The broader market was mixed. The S&P BSE Mid-Cap index advanced 0.29% while the S&P BSE Small-Cap index rose 0.69%.
The market breadth was almost even. On the BSE, 1126 shares rose and 1034 shares fell. A total of 188 shares were unchanged. In Nifty 50 index, the breadth was even with 30 stocks advancing while 20 stocks declining.
The gains were supported by expectations that India will ease the lockdown following similar lifting of restrictions in Italy, New Zealand and some US states. Prime Minister Modi on Monday (27 April) held talks with the chief ministers of the country's 28 states to decide on a graded exit from the ongoing lockdown which is in place till 3 May.
Stocks in spotlight :
HDFC (up 4.95%), GAIL (India) (up 4.10%), Bajaj Finance (up 3.89%), BPCL (up 3.74%) and Tech Mahindra (up 2.95) were the top gainers.
NTPC (down 3.19%), Bajaj Auto (down 2.25%), Nestle India (down 2.20%), Cipla (down 2.17%) and Sun Pharmaceutical Industries (down 2.06%) were the top losers.
IndusInd Bank jumped 11.73% to Rs 455.15. The bank's net profit fell 16.17% to Rs 301.84 crore on 21.29% rise in total income to Rs 9158.57 crore in Q4 March 2020 over Q4 March 2019. The bank's provisions and contingencies jumped 56.36% to Rs 2440.32 crore in Q4 March 2020 over Q4 March 2019. The bank's gross non-performing assets (NPAs) stood at Rs 5146.74 crore as on 31 March 2020 as against Rs 4578.43 crore as on 31 December 2019 and Rs 3947.41 crore as on 31 March 2019. The ratio of gross NPAs to gross advances stood at 2.45% as on 31 March 2020 as against 2.18% as on 31 December 2019 and 2.10% as on 31 March 2019. The ratio of net NPAs to net advances stood at 0.91% as on 31 March 2020 as against 1.05% as on 31 December 2019 and 1.21% as on 31 March 2019.
The private lender's net profit rose 33.83% to Rs 4417.91 crore on 28.04% rise in total income to Rs 35734.14 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19).
More From This Section
Axis Bank jumped 4.29% to Rs 445.65 after the private sector bank in an exchange filing announced that it has acquired 30% stake in Max Life Insurance from Max Financial Services for Rs 1600 crore. The bank said Max Financial Services presently holds a 72.5% stake in Max Life and Mitsui Sumitomo Insurance (MSI) owns 25.5% stake. Axis Bank also has a minor stake in the life insurer. The bank will announce its Q4 March 2020 result today.
Reliance Industries (RIL) added 0.59% to Rs 1438.70. RIL said that the meeting of the board of directors of the company is scheduled on 30 April 2020 to consider a proposal to issue equity shares to existing shareholders on rights basis, as may be permitted under applicable law, subject to such regulatory/statutory approvals, as may be required.
UPL rose 3.13% to Rs 360.60 after it confirmed the completion of acquisition of Yoloo (Laoting) Bio-technology Co., that was announced on 14 November 2019, post all customary and regulatory approvals and the transaction is closed.
Global Markets:
European shares edged higher while most Asian markets advanced on Tuesday as investors react to a host of corporate earnings. HSBC on Tuesday posted a 48% year-over-year plunge in pre-tax profit for the first quarter of 2020.
Investors are focused on oil prices that continue to fall as the coronavirus has demand global demand for oil, sending prices tumbling. Oil prices slid 12% during overnight trading, extending Monday's nearly 25% decline amid ongoing fears that storage around the world is rapidly filling.
The coronavirus pandemic continued to weigh on the investor sentiment. More than 3 million people are now reported to have been infected by the coronavirus around the world and over 210,800 have died, according to Johns Hopkins University.
In US, stocks rose on Monday as investors cheered news that more countries and US states were looking to ease lockdowns and the Bank of Japan expanded its stimulus program, while the price of oil continued to crumble as storage runs out.
The outcome of the US Federal Reserve meeting which concludes today would also be on investors' radar.
Powered by Capital Market - Live News