Sunday, 21 January, 2018

Sensex gains 64 pts in early trade on Asian cues

BSE Sensex pti Sensex gains 64 pts in early trade on Asian cues
Nellie Chapman | 21 April, 2017, 03:19

The BSE Information Technology index fared worse than the broader market, declining 0.3% to its lowest levels since February. "Banking stocks are now witnessing recovery from day's lows".

Foreign investors net sold shares worth Rs 930.67 crore while domestic institutional investors bought shares worth 878.08 crore on Tuesday, provisional data showed.

Net NPAs rose to 0.81 percent of net loans disbursed from 0.29 percent earlier.

TCS, the country's largest software exporter, on Wednesday fell 0.30 per cent after the company's March quarter profit came in below expectations.

Financial stocks, with the biggest weight on benchmark indices, ended mixed on Wednesday.

Meanwhile, Yes Bank, was the top loser in Nifty, down 3.76 per cent as the private sector lender reported almost doubling of stressed assets in the March quarter.

Minutes into trading, it was quoting at 29,369.55 points, up by 32.98 points, or 0.11 per cent.

Among other Asian markets, Japan's Nikkei was up 0.31 per cent while Hong Kong's Hang Seng index rose 0.33 per cent in morning trade.

In the day's trade, the barometer 30-scrip sensitive index had touched a high of 29,388.25 points and a low of 29,241.48 points.

The S&P 500 and Dow closed lower and the Nasdaq advanced on Wednesday as investors digested the latest round of earnings, while a drop in oil prices weighed on the energy sector.

On the sectoral front, Metal fell by 1.08 per cent, Pharma 0.79 per cent, IT 0.63 per cent, PSU Bank 0.38 per cent, FMCG 0.20 per cent, and Auto 0.18 per cent.

Major Sensex gainers on Tuesday were: NTPC, up 1.60 per cent at Rs 161.70; Wipro, up 0.93 per cent at Rs 496.35; HDFC Bank, up 0.68 per cent at Rs 1,445.75; ICICI Bank, up 0.46 per cent at Rs 283; and Power Grid, up 0.32 per cent at Rs 202.35.

The stock declined by 3.76 percent to end at Rs 1,545.10 on BSE. "According to average of estimates of analysts polled by CNBC-TV18, profit during the quarter is seen rising 17.6 percent year-on-year to Rs 3,966.6 crore and net interest income may increase 16.5 percent to 8,684.4 crore compared with year-ago period".