Market registered modest gains on positive global cues. The barometer index, the S&P BSE Sensex rose 154.19 points or 0.48% at 32,382.46, as per the provisional closing data. The Nifty 50 advanced 59.55 points or 0.6% at 10,024.10, as per the provisional closing data. The Nifty ended above the psychologically important 10,000 mark. Both the Sensex, and the Nifty, hit record high.
The Sensex rose 185.36 points or 0.57% at the day's high of 32,413.63 in afternoon trade, a record high. It fell 2.19 points at 32,226.08 in early trade. The Nifty rose 61.40 points or 0.61% at the day's high of 10,025.95 in late trade, a record high. It rose 1.40 points or 0.01% at the day's low of 9,965.95 in early trade.
Key indices opened the session with small gains amid initial volatility. Later, indices hovered in green with small to modest gains. Key indices extended intraday gains towards the late trade to hit fresh record highs.
Globally, investors await the outcome of a two-day US Federal Reserve's policy meeting scheduled later today, 26 July 2017. Markets will be watching for any signals about another possible rise in the benchmark lending rate in 2017, and on when the Fed will begin winding down its multi-trillion-dollar investment holdings.
Among secondary barometers, the S&P BSE Mid-Cap index provisionally rose 0.18%. The S&P BSE Small-Cap index provisionally advanced 0.28%. Both these indices underperformed the Sensex.
The breadth, indicating the overall health of the market, was positive. On the BSE, 1,359 shares rose and 1,327 shares declined. A total of 175 shares were unchanged.
More From This Section
The total turnover on BSE amounted to Rs 4040.29 crore, lower than turnover of Rs 4090.47 crore registered during the previous trading session.
Index heavyweight and housing finance major HDFC was up 0.04%. The company's consolidated net profit fell 2.25% to Rs 2733.87 crore on 6.88% rise in total income to Rs 14463.01 crore in Q1 June 2017 over Q1 June 2016. The company announced its Q1 results during market hours today, 26 July 2017.
HDFC's board of directors approved issue of secured, redeemable, non convertible debentures aggregating Rs 35000 crore on private placement basis.
Axis Bank lost 3.07% after net profit fell 16.07% to Rs 1305.60 crore on 1.44% growth in total income to Rs 14052.30 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.
Axis Bank's gross non-performing assets (NPAs) stood at Rs 22030.87 crore as on 30 June 2017 as against Rs 21280.48 crore as on 31 March 2017 and Rs 9553.17 crore as on 30 June 2016.
The ratio of gross NPAs to gross advances stood at 5.03% as on 30 June 2017 as against 5.04% as on 31 March 2017 and 2.54% as on 30 June 2016. The ratio of net NPAs to net advances stood at 2.3% as on 30 June 2017 as against 2.11% as on 31 March 2017 and 1.08% as on 30 June 2016.
The bank's Net Interest Income (NII) grew by 2% to Rs 4616 crore in Q1 June 2017 over Q1 June 2016. Net interest margin stood at 3.63% in Q1 June 2017.
Axis Bank said that the bank during Q1 June 2017 raised Rs 8500 crores through issuance of Tier I and Tier II Bonds, of which Tier I was Rs 3500 crore and Tier II was Rs 5000 crore.
As on 30 June 2017, Axis Bank's provision coverage, as a proportion of gross NPAs including prudential write-offs, was at 65%.
Yes Bank advanced 6.68% after net profit rose 31.93% to Rs 965.52 crore on 21.48% growth in total income to Rs 5785.96 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 26 July 2017. Yes Bank's board approved 5-for-1 stock split.
Bharti Airtel rose 0.56%. The company's consolidated net profit fell 58.4% to Rs 617.70 crore on 14% decline in net sales to Rs 21958.10 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.
Bharti Airtel's revenue in Q1 June 2017 dropped primarily due to decline of mobile revenues in India. In addition, currency devaluation in Nigeria had an impact on revenue growth of 2.6%.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin for Q1 June 2017 dropped to 35.6% as compared to 37.5% in Q1 June 2016.
Hero MotoCorp rose 0.21% after net profit rose 3.49% to Rs 914 crore on 7.51% increase in gross turnover to Rs 8612.90 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.
Hero MotoCorp's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 5.35% to Rs 1295.90 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin remained steady at 16.3% in Q1 June 2017.
Pawan Munjal, Chairman, Managing Director and Chief Executive Officer of Hero MotoCorp said that in Q1 June 2017, the company further consolidated domestic motorcycle market share by clocking all time high sales. The growth in the domestic market was aided by an improvement in overall market sentiment and robust demand for company's range of two-wheelers.
With several new products planned for launch over the next few quarters from world class Centre of Innovation and Technology (CIT), the company remains committed to consolidating its domestic leadership and expanding global footprint into new markets, he added.
Overseas, European stocks edged higher helped by gains in the energy sector due to a rally in oil prices, while investors awaited the Federal Reserve's policy decision due later in the day.
Most Asian stocks edged higher tracking gains on Wall Street overnight.
US equities closed higher yesterday, 25 July 2017, after a slew of major companies reported better-than-expected quarterly results. Wall Street had also set its sights on the Federal Reserve, as the central bank kicked off a two-day monetary policy meeting yesterday, 25 July 2017.
The Federal Reserve will announce its interest rate decision later today, 26 July 2017. The Fed had raised the target range for its federal funds rate by 25 basis points to 1% to 1.25% during its June 2017 meeting.
Powered by Capital Market - Live News