MARKETS ON THURSDAY: Indices end higher; Sensex up 211 pts, YES Bank up 10%

Benchmark indices were higher on Thursday as investors cheered YES Bank results

Nifty ended Spril F&O Expiry on a higher note on Thursday,  as investors cheered March-quarter results from private sector lendersYes Bank.

The S&P BSE Sensex ended at 34,714, up 212 points while the broader Nifty50 index settled at 10,618, up 47 points.

Software services exporter Wipro was among the biggest drags on the NSE index after its fourth-quarter profit missed estimates and guidance for the first quarter failed to please investors. Shares fell as much as 4.6%, their biggest fall since September 14. The stock ended 2% lower.

Yes Bank was gained 10% on robust Q4 results.Private sector lender Yes Bank’s net profit for the March quarter rose 29% year-on-year to Rs 11.79 billion beating estimates, because of a healthy net interest income growth and stable asset quality.

The quarterly net profit for the same quarter in the previous fiscal was Rs 9.14 billion.

The 10-year US Treasury yield set a fresh four-year high of 3.035% on Wednesday, driven by worries about the growing supply of government debt and inflationary pressures from rising oil prices. But, robust corporate earnings helped quell concerns and Asian shares gained.

(with Reuters inputs)

3:56 PM

Market rundown by Vinod Nair, Head of Research, Geojit Financial Services 

 

"Market remain range bound during most part of the day due to F&O expiry but better results from banks and improving sentiment on IT stocks lifted the index. Continued outflow of foreign money and surging oil prices added pressure on rupee and inflation trajectory. Earnings and election will be the main triggers and until then, investors are likely to take a wait and watch approach."

 

3:44 PM

Nifty Pvt Bank index ends 1.14% up. Top gainers:

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)
YES BANK	352.40	325.25	27.15	8.35
INDUSIND BANK	1881.90	1847.75	34.15	1.85
KOTAK MAH. BANK	1185.70	1167.85	17.85	1.53
FEDERAL BANK	97.10	95.95	1.15	1.20
HDFC BANK	1930.25	1920.75	9.50	0.49

3:40 PM

Sectoral performers

3:37 PM

BSE Sensex: Yes Bank surges 10% to end as the top gainer

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 34,714, up 212 points while the broader Nifty50 index settled at 10,618, up 47 points.

3:26 PM

YES Bank rallies 9% as asset quality improves in Q4FY18

Shares of YES Bank have moved higher by 9% to Rs 353 per share on the BSE in noon deal trade after the private sector lender’s asset quality improved in March quarter (Q4FY18) sequentially.
 

The bank’s Gross non-performing asset (NPA) fell to 1.28% in Q4FY18 from 1.72% per cent in the December 2017 quarter. Net NPA improved to 0.64% from 0.93% previous quarter. READ MORE

3:16 PM

Gold hovers near 5-week low as stronger dollar, bond yields weigh

Gold prices stuck to a narrow range on Thursday, hovering near five-week lows hit in the previous session, pressured by a stronger dollar and a rise in US Treasury yields. Spot gold was up 0.1 per cent at $1,324.61 per ounce, a day after it fell to $1,318.51, its lowest since March 21. READ MORE

3:00 PM

Pioneer Distilleries zooms 20% post Q4 results

 

Shares of Pioneer Distilleries were locked in upper circuit of 20% at Rs 264 per share, also their 52-week high on the BSE, after the company reported a net profit of Rs 208 million, on back of government grant of Rs 481 million for the quarter ended March 2018 (Q4F718). The company, a subsidiary of United Spirits, had a net loss of Rs 112 million in the same quarter year ago. READ MORE

2:47 PM

Bharti Infratel, Indus merger to create Rs 965 bn co, 2nd largest after ATC

 

Bharti Infratel and Indus Towers will merge to create the second-largest telecommunications tower company in the world, valued at Rs 965 billion. The merged entity will have a presence in all the 22 circles of the country and have 163,000 towers.

 

China Tower, a joint venture of three telecom operators, is the largest tower company in the world by volume of towers. It is estimated to have more than a million towers. American Tower Corporation (ATC) is possibly larger in valuation but not in terms of the number of towers it has. READ MORE

2:30 PM

Volume Toppers

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
REL. COMM.	16.90	-0.80	-4.52	6695511
PC JEWELLER	237.80	-6.45	-2.64	4326146
RELIANCE NAV.ENG	19.25	-3.50	-15.38	4317845
INDBULL.REALEST.	206.95	2.05	1.00	3333634
H D I L	37.45	-1.75	-4.46	2150415

2:17 PM

FPIs, MFs lap up blue-chips; stake in RIL, IndusInd Bank at record high

Foreign portfolio investors and mutual funds have been lapping of stocks of blue-chip companies in the January – March 2018 (Q4FY18) quarter with their stakes in select companies hitting an all-time high.

 

FPIs ownership in 13 companies from the S&P BSE200 index, such as Reliance Industries (RIL), IndusInd Bank, UltraTech Cement, Ashok Leyland and ICICI Prudential Life Insurance hit record high at the end of Q4FY18, CapitalinePlus data shows. READ MORE

2:01 PM

Market Check

 

S&P BSE Sensex	34,581.03		0.23%
Nifty 50	10,580.05		0.09%
S&P BSE 200	4,652.45		0.14%
Nifty 500	9,357.55		0.08%
S&P BSE Mid-Cap	16,755.58		-0.20%
S&P BSE Small-Cap	18,157.63		0.22%

1:47 PM

PNB, HPCL, Idea, Bharti Infratel, HDIL, Reliance Naval hit 52-week lows

Punjab National Bank, Hindustan Petroleum Corporation Limited (HPCL), Idea Cellular, Housing Development & Infrastructures (HDIL), Reliance Naval and Engineering and Bharti Infratel were among 14 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the BSE on Thursday.
 

Sugar stocks such as Bajaj Hindustan, Balrampur Chini Mills and EID Parry, Lakshmi Vilas Bank, Power Finance Corporation, S H Kelkar & Co, Somany Ceramics and Vakrangee too hit 52-week lows today. READ MORE

1:31 PM

From ReNew Power to TPG, platforms gaining ground among PE investors

ReNew Power Ventures roped in Canadian pension fund CPPIB to buy the solar energy platform of Ostro Energy, backed by PE firm Actis. Investors, including Canadian pension fund CDPQ, in race to pick up a stake in TPG Growth’s single-speciality hospital platform in India. READ MORE
 

1:15 PM

Top BSE500 gainers

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
JM FINANCIAL	133.50	8.15	6.50	135652
I D F C	55.90	3.40	6.48	1508665
CYIENT	776.60	42.25	5.75	72830
NESTLE INDIA	9159.40	424.75	4.86	2634
L&T TECHNOLOGY	1351.50	61.70	4.78	47282