Key benchmark indices settled with modest losses after a volatile session of trade. The barometer index, the S&P BSE Sensex, fell 176.27 points or 0.52% to settle at 33,891.13. The Nifty 50 index fell 52.45 points or 0.51% to settle at 10,198.40. The Sensex settled below psychological 34,000 mark after moving above and below that level in intraday trade.
The Sensex fell 176.27 points or 0.52% to settle at 33,891.13. The index hit high of 34,176.36 and low of 33,799.79 in intraday trade.
The Nifty 50 index fell 52.45 points or 0.51% to settle at 10,198.40. The index hit high of 10,285.10 and low of 10,175.35 in intraday trade.
Among secondary barometers, the BSE Mid-Cap index rose 0.91%. The BSE Small-Cap index rose 0.94%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1479 shares rose and 1080 shares fell. A total of 150 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE IT index (up 1.71%), the S&P BSE Teck index (up 1.66%), the S&P BSE Capital Goods index (up 0.95%) outperformed the Sensex. The S&P BSE Oil & Gas index (down 1.7%), the S&P BSE Metal index (down 1.21%), the S&P BSE Bankex (down 0.54%) underperformed the Sensex.
Oil sector stocks declined. Among public sector oil marketing companies, HPCL (down 4.07%) and Indian Oil Corporation (down 3.33%), edged lower.
More From This Section
BPCL lost 3.72% after net profit dropped 48.3% to Rs 1218.71 crore on 34.56% rise in total income to Rs 72829.83 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 29 October 2018. BPCL's average gross refining margin (GRM) was $5.57 per barrel in Q2 September 2018, compared with $5.57 per barrel in Q2 September 2017.
Among oil exploration and production companies, ONGC (down 1.32%), Oil India (down 2%) and Reliance Industries (down 2.84%), edged lower.
IT stocks rose. Infosys (up 2.48%), TCS (up 1.37%) and Tech Mahindra (up 2.91%) edged higher. Wipro fell 0.11%.
Union Bank of India gained 8.53% after the bank reported net profit of Rs 139.03 crore in Q2 September 2018 as compared with net loss of Rs 1530.72 crore in Q2 September 2017. Total income fell 0.02% to Rs 9438.26 crore in Q2 September 2018 over Q2 September 2017. Net Interest Income increased by 7.5% to Rs 2494 crore. The result was announced after market hours yesterday, 29 October 2018.
Global business grew by 3.1% to Rs 717656 crore as on 30 September 2018 from Rs 695978 crore as on 30 September 2017. Domestic business grew by 6.5% to Rs 698892 crore as on 30 September 2018 from Rs 656046 crore as on 30 September 2017.
Gross NPA stood at 15.74% as on 30 September 2018 as against 16% as on 30 June 2018. Net NPA ratio stood at 8.42% as on 30 September 2018 as against 8.7% as on 30 June 2018. Provision Coverage Ratio stood at 57.66% as on 30 September 2018 as against 56.49% as on 30 June 2018.
Just Dial advanced 11.34% after net profit rose 29.15% to Rs 48.38 crore on 11.62% rise in total income to Rs 239.44 crore in Q2 September 2018 over in Q2 September 2017. The result was announced after market hours yesterday, 29 October 2018.
Total operating revenue rose 13.7% to Rs 221 crore in Q2 September 2018 over in Q2 September 2017. Operating EBITDA rose 45% to Rs 57.5 crore. Adjusted operating EBITDA margin, excluding ESOP expenses, stood at 28.6%, up 650 bps YoY. Traffic (Unique Visitors) for the quarter stood at 131.3 million, up 25% YoY. 76.6% traffic originated on mobile platforms, 16.6% on desktop/ PC and 6.8% on our voice platform. Total Active Listings stood at 23.8 million as on 30 September 2018, an increase of 20% YoY. Cash and investments stood at Rs 1358.5 crore as on 30 September 2018 compared to Rs 1045.3 crore as on 30 September 2017 and Rs 1288.8 crore as on 30 June 2018.
LIC Housing Finance fell 2.61%. The company reported 11.54% rise in net profit to Rs 573.16 crore on 11.79% rise in total income to Rs 4202.59 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 29 October 2018.
Bhel rose 1.54% to Rs 69.05. The company's board approved buyback of 18.93 crore shares at Rs 86 per share, aggregating to Rs 1628.3 crore on a proportionate basis through the tender offer route. The record date for buyback is 6 November 2018. The announcement was made after market hours yesterday, 29 October 2018.
HSIL lost 4.7% after net profit dropped 80.13% to Rs 4.67 crore on 17.22% growth in net sales to Rs 622.65 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 29 October 2018.
India's finance minister Arun Jaitley reportedly criticised the Reserve Bank of India (RBI) for failing to prevent lending excess in a speech on Tuesday. The central bank looked the other way when banks gave loans indiscriminately during 2008 to 2014, Jaitley reportedly said while speaking at an event in New Delhi. According to media reports, tensions between the finance ministry and the RBI have risen since the bank's deputy governor said in a speech on Friday that undermining a central bank's independence could be "potentially catastrophic", in an indication that it is pushing back hard against government pressure to relax its policies and reduce its powers.
On the economic front, India and Japan signed a bilateral currency swap agreement on Monday, 29 October 2018, for up to $75 billion during Prime Minister Narendra Modi's visit to Tokyo. Under the arrangement, India can acquire dollars from Japan in exchange for rupees. The agreement would help bring greater stability to foreign exchange and capital markets in India. This arrangement would also further help India tap foreign capital for the country's development needs. This facility will enable the agreed amount of foreign capital being available to India for use as and when the need arises.
Overseas, most European stocks were trading lower on Tuesday, as investors monitored earnings. Fears of a sharp escalation in the trade war between the world's two largest economies spooked investors.
Most Asian shares ended higher. US stocks closed lower Monday in a volatile session as concerns about global growth resurfaced following a news report that suggested that the US is about to intensify its trade war with China.
President Donald Trump's administration is prepared to announce tariffs on remaining Chinese imports if talks next month between Trump and Xi Jinping do not yield results, the media reported. Such a move is expected to hurt the global economy.
On the US data front, consumer spending rose 0.4% in September. Incomes rose a smaller 0.2%, the smallest rise in 13 months, while inflationary pressures appeared to slacken. The personal-consumption expenditures inflation index, the Federal Reserve's favorite price gauge, rose 0.1% in September, while the 12-month rate slipped to 2% from 2.2%.
Powered by Capital Market - Live News