Key benchmark indices extended losses and hit fresh intraday low in morning trade. Losses were small. At 10:20 IST, the barometer index, the S&P BSE Sensex fell 88.06 points or 0.27% at 32,954.44. The Nifty 50 index dropped 13.90 points or 0.11% at 10,284.20. The Sensex fell below the psychological 33,000 level after closing above that mark for the first time in history yesterday, 25 October 2017. Indices dropped on profit booking after a sharp jump yesterday, 25 October 2017, propelled indices to their record closing highs.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.16%. The S&P BSE Small-Cap index gained 0.31%. Both the indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was positive. On the BSE, 1,068 shares rose and 982 shares declined. A total of 98 shares were unchanged.
Telecom stocks were mixed. Reliance Communications (down 3.04%) and Tata Teleservices (Maharashtra) (down 0.28%) declined. Bharti Airtel (up 0.54%) and Idea Cellular (up 0.35%) gained.
Shares of Bharti Infratel fell 0.67%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.
Capital goods stocks gained for the third straight day. Bharat Heavy Electricals (Bhel) (up 1.21%), BEML (up 2.24%), Havells India (up 1.19%), ABB India (up 1.12%), and Thermax (up 0.39%) gained. Siemens fell 0.67%.
L&T gained 1.47% after its construction division won orders worth Rs 3551 crore across various business segments. The announcement was made before market hours today, 26 October 2017.
RBL Bank rose 1.06% after net profit rose 67.56% to Rs 150.62 crore on 24.39% growth in total income to Rs 1332.36 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 25 October 2017.
RBL Bank's gross non-performing assets (NPAs) stood at Rs 487.24 crore as on 30 September 2017 as against Rs 457.81 crore as on 30 June 2017 and Rs 274.65 crore as on 30 September 2016.
The ratio of gross NPAs to gross advances stood at 1.44% as on 30 September 2017 as against 1.46% as on 30 June 2017 and 1.1% as on 30 September 2016. The ratio of net NPAs to net advances stood at 0.78% as on 30 September 2017 as against 0.81% as on 30 June 2017 and 0.55% as on 30 September 2016. The bank's provisions and contingencies rose 51.04% to Rs 74.89 crore in Q2 September 2017 over Q2 September 2016.
Engineers India jumped 6.68% after net profit rose 27.11% to Rs 119.17 crore on 26.62% rise in net sales to Rs 429.09 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 25 October 2017.
Overseas, Asian stocks were mixed after Wall Street shares pulled back from record highs overnight. US stocks fell yesterday, 25 October 2017, on a batch of soft quarterly earnings, with the Dow Jones Industrial Average suffering its worst day in seven weeks after rising to a record peak the previous session.
Among macro data, durable-goods orders in US rose 2.2% in September. Excluding transportation, orders increased 0.7%. New-home sales ran at a 667,000 annual pace in September, an 18.9% increase compared with August, and a 17% increase compared with a year ago.
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