Indian Market Closed: Sensex, Nifty consolidate on day one of expiry week

Press Release (ePRNews.com) - INDORE, India - May 22, 2017 - The Indian Share market begins the expiry week on the optimistic surface, with consolidation seen throughout the session, although the opening ticks. The Sensex closed gain 106.05 points at 30570.97, while the Nifty closed up 10.35 points at 9438.25. The market width was downbeat as 903 stocks sophisticated against a fall of 1,852 stocks, while 161 stocks were unmoved.ITC, Bharti Infratel and Larsen & Toubro picked the most on both indices, while State Bank of India and Lupin were a pull.

Midcaps continued their fall from the last sessions, along with PSU Banks, and energy, while FMCG shares picked the most.

Buzzing Stock: Shares of Bank of India fall more than 9% day Monday as it has listed net fall in March quarter (Q4FY17) compare to earnings noted in the quarter closed Dec. 2016. The bank lessened its net loss in the Q4 results closing March 2017 at Rs 1045 crore driven by interest income and lesser provisions. The net loss a year ago was at Rs 3587 crore.However, the loss comes against a earnings of Rs 102 crore in the Dec. quarter.

Among the sectoral indices on BSE, the S&P BSE FMCG index (gain 3.09 Percent), the S&P BSE Consumer Durables index (gain 0.61 Percent), and the S&P BSE Capital Goods index (gain 0.5 Percent) outperformed the Sensex. The S&P BSE Realty index (fall 1.29 Percent), the S&P BSE Power index (fall 1.23 Percent), and the S&P BSE Healthcare index (fall 1.64 Percent) underperformed gainers the Sensex.

Most FMCG stocks edged upper. Marico (gain 1.79 Percent), Procter and Gamble Hygiene and Health Care (gain 0.15 Percent), Nestle India (gain 0.68 Percent), Britannia Industries (gain 1.31 Percent), Dabur India (gain 0.54 Percent), Hindustan Unilever (gain 1.07 Percent), Jyothy Laboratories (gain 0.13 Percent) edged upper. Bajaj Corp (fall 0.14 Percent), Godrej Consumer Products (fall 0.87 Percent), Colgate Palmolive (India) (fall 0.92 Percent) and Tata Global Beverages (fall 1.37 Percent) edged fall.

Cigarette major ITC bounced 6.21 Percent to Rs 303.65 in the midst of expectation that the share could soon observe a re-rating as the tax policy under Goods and Services Tax overhang closed. The share had strike a high of Rs 304.90 in day trade, which is additionally a record high. The share had strike a low of Rs 291 in day trade.

Most private division bank shares drop. RBL Bank (fall 1.99 Percent), City Union Bank (fall 2.68 Percent), Federal Bank (fall 1.73 Percent), ICICI Bank (fall 0.72 Percent), Yes Bank (fall 1.64 Percent) and IndusInd Bank (fall 0.92 Percent) edged fall. Axis Bank (gain 0.24 Percent), Kotak Mahindra Bank (gain 0.19 Percent) edged upper.

HDFC Bank increase 1.02 Percent to Rs 1,575.80. The share strike a high of Rs 1,580 and low of Rs 1,562.80 in day trade.

Public division bank shares fall sharply. Bank of India (fall 11.23 Percent), State Bank of India (fall 4.46 Percent), Corporation Bank (fall 5.66 Percent), Bank of Maharashtra (fall 3.63 Percent), Syndicate Bank (fall 4.95 Percent), Andhra Bank (fall 4.07 Percent), IDBI Bank (fall 3.99 Percent), Vijaya Bank (fall 5.84 Percent), Union Bank of India (fall 3.67 Percent), Punjab National Bank (fall 2.8 Percent), Bank of Baroda (fall 3.13 Percent), UCO Bank (fall 1.07 Percent) and Canara Bank (fall 1.39 Percent) edged fall.

Corporation Bank fall 5.66 Percent after the company announced upper poor loans in fourth quarter (Q4). The result was declared on Saturday, 20 May 2017.

Corporation Bank’s gross non-performing assets (NPAs) stood at Rs 17045.22 crore as on 31 Mar 2017 as against Rs 15827.99 crore as on 30 Dec.r 2016 and Rs 14544.24 crore as on 31 March 2016. The ratio of gross NPAs to gross advances stood at 11.7 Percent as on 31 March 2017 as against 11.26 Percent as on 31 Dec. 2016 and 9.98 Percent as on 31 March 2016. The ratio of net NPAs to net advances stood at 8.33 Percent as on 31 March 2017 as against 7.64 Percent as on 31 Dec 2016 and 6.53 Percent as on 31 March 2016.

The bank’s provisions and contingencies drop 51.63 Percent to Rs 948.01 crore in fourth quarter(Q4) March 2017 over fourth quarter (Q4) March 2016 of which provisions for NPAs fall 56.62 Percent to Rs 852.97 crore in fourth quarter (Q4) March 2017 over fourth quarter (Q4) March 2016. Corporation Bank noted net earnings of Rs 159.98 crore in fourth quarter (Q4) March 2017 compared with net loss of Rs 510.96 crore in fourth quarter (Q4) March 2016. Entire income increase 9.8 Percent to Rs 5730.48 crore in fourth quarter (Q4) March 2017 over fourth quarter (Q4) March 2016.

Grasim Industries was fall 1.01 Percent. Grasim has exposure to cement division through its holding in UltraTech Cement.

Just Dial lost 3.1 Percent after net earnings drop 37.1 Percent to Rs 25.35 crore on 5.9 Percent increase in net deals to Rs 181.72 crore in fourth quarter(Q4) March 2017 over fourth quarter (Q4) March 2016. The result was reported later exchange hours on Friday, 19 May 2017.

Sunil Hitech Engineers fall 7.65 Percent after net earnings fall 98 Percent to Rs 0.27 crore on 22.3 Percent expansion in net deals to Rs 618.18 crore in fourth quarter (Q4) March 2017 over fourth quarter (Q4) March 2016. The organization’s entire unexecuted order book remained at Rs 5188.25 crore as on 31 March 2017. The result was reported later exchange hours on Friday, 19 May 2017.

APL Apollo Tubes rose 1.32% after united net benefit rose 49.96% to Rs 41.24 crore on 11.2% ascent in all out income to Rs 1317.57 crore in Q4 March 2017 over Q4 March 2016. The outcome was declared on Saturday, 20 May 2017. Reported by https://www.swastika.co.in

Source : Swastika Investmart
Business Info :
swastika Investmart Ltd

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