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Sensex snaps 6-session falling streak; Yes Bank soars 10 pc
Posted on 27th July 2019
Snapping its six-session falling streak, equity benchmark BSE Sensex ended 51.81 points higher on Friday, led by select finance and private bank stocks.

While subdued corporate earnings, foreign fund outflows and weak global cues continue to weigh on the markets, hopes of above-average rainfall in the next two weeks buoyed investor sentiment to some extent, traders said.

After a choppy session, the 30-share Sensex ended 51.81 points or 0.14 per cent higher at 37,882.79. Similarly, the broader NSE Nifty rose 32.15 points or 0.29 per cent to settle at 11,284.30.

During the week, the Sensex lost 454.22 points or 1.18 per cent, while the Nifty fell 134.95 points or 1.18 per cent.

Yes Bank was the top gainer in the Sensex pack on Friday, rallying 9.64 per cent. Bajaj Finance soared 7.20 per cent after the company posted its highest-ever quarterly consolidated net profit at Rs 1,195 crore for the June quarter. Other gainers included Hero MotoCorp, M&M, Bajaj Auto, Tata Motors, Asian Paints and Kotak Bank, rising up to 3.21 per cent.

Maruti Suzuki inched up 0.78 per cent after the company reported a 31.67 per cent decline in consolidated net profit at Rs 1,376.8 crore for the June quarter.

Vedanta, RIL, Bharti Airtel, ONGC, HDFC, Tech Mahindra, HCL Tech and Infosys were among the top losers, falling up to 4.26 per cent.

“Market recovered after six consecutive days of fall while the recovery was not solid due to concern on Q1 earnings. Expectation of above average rainfall in coming weeks provided some respite to broad indices.

“A decisive up-move will require liquidity from FIIs which is now in doldrums while any signs of stability and development in economic activity can change the situation,” said Vinod Nair, head of research at Geojit Financial Services.

Sectorally, the BSE auto, bankex, capital goods, healthcare, industrials, finance and consumer durables indices ended up to 1.98 per cent higher. However, energy, IT, teck, oil and gas, utilities and power lost up to 1.01 per cent.

The broader BSE midcap and smallcap indices outperformed the benchmarks, rising up to 0.53 per cent.

On a net basis, foreign institutional investors sold equities worth Rs 126.65 crore on Thursday, while domestic institutional investors purchased shares to the tune of Rs 398.53 crore, provisional data available with stock exchanges showed.

Elsewhere in Asia, most bourses ended on a negative note. Hang Seng, Nikkei and Kospi ended in the red, while Shanghai Composite Index settled in the green. Bourses in Europe were also trading in the positive terrain in their early sessions.

On the currency front, the Indian rupee appreciated 7 paise to 68.97 against the US dollar (intra-day).

Meanwhile, the global oil benchmark Brent crude futures rose 0.50 per cent to USD 63.71 per barrel.

Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019

Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.

Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade.


Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point.

On a weekly basis, the local unit slumped by 32 paise.


LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19.

Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai).


Apollo Hospitals rules out further stake sale
Posted on 13th September 2019
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here.

World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted.

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