News End-Session

Sensex, Nifty end higher in volatile session
23-Apr-18   16:15 Hrs IST

The market ended the volatile session with small gains. The barometer index, the S&P BSE Sensex, rose 35.19 points or 0.10% to 34,450.77. The Nifty 50 index rose 20.65 points or 0.20% to 10,584.70. Trading was volatile due to negative global cues and derivatives expiry later this week.

Overseas, European shares declined as results from Switzerland's biggest bank, UBS, disappointed investors. Asian stocks settled lower as investors kept an eye on rising US Treasury yields. US stocks ended lower on Friday, as weakness in technology and consumer staples shares offset the latest batch of corporate earnings, which largely continued to beat expectations. While earnings were the primary driver of sentiment last week, investors lately grew concerned about a jump in bond yields that reflect rising inflation expectations.

Back home, the domestic market opened lower, but recovered as the session progressed. Indices hit fresh intraday high in mid-afternoon trade. Profit selling emerged at higher levels and indices managed to settle with small gains.

The Sensex rose 35.19 points or 0.10% to settle at 34,450.77, its highest closing level since 5 February 2018. The index rose 248.37 points, or 0.72% at the day's high of 34,663.95. The index fell 156.31 points, or 0.45% at the day's low of 34,259.27.

The Nifty 50 index rose 20.65 points or 0.20% to settle at 10,584.70, its highest closing level since 5 February 2018. The index rose 74.30 points, or 0.70% at the day's high of 10,638.35. The index fell 49.10 points, or 0.46% at the day's low of 10,514.95.

Among secondary barometers, the BSE Mid-Cap index rose 0.49%. The BSE Small-Cap index rose 0.53%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,399 shares rose and 1,284 shares fell. A total of 164 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Realty index (up 1.78%), the S&P BSE Healthcare index (up 1.29%), the S&P BSE Consumer Durables index (up 0.68%), the S&P BSE IT index (up 0.67%), the S&P BSE Telecom index (up 0.64%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.6%), the S&P BSE Teck index (up 0.55%), the S&P BSE Energy index (up 0.51%), the S&P BSE Oil & Gas index (up 0.49%), the S&P BSE Auto index (up 0.33%) and the S&P BSE Bankex (up 0.24%), outperformed the Sensex. The S&P BSE Industrials index (up 0.09%), the S&P BSE Finance index (up 0.06%), the S&P BSE Capital Goods index (up 0.03%), the S&P BSE Power index (up 0.02%), the S&P BSE Utilities index (down 0.01%), the S&P BSE Basic Materials index (down 0.23%), the S&P BSE FMCG index (down 0.43%) and the S&P BSE Metal index (down 0.9%), underperformed the Sensex.

Index heavyweight Reliance Industries rose 0.77% to Rs 935.15.

IT major TCS was the top Sensex gainer. The stock rose 0.26% at Rs 3,415.20. TCS pared gains after becoming the first Indian company to achieve the $100 billion in market capitalisation, the first ever in the history of Indian capital markets.

Among other IT shares, MphasiS (up 3.59%), MindTree (up 2.21%), Persistent Systems (up 1.93%), HCL Technologies (up 1.85%), Infosys (up 0.43%) and Tech Mahindra (up 0.19%), edged higher. Hexaware Technologies (down 0.32%), Oracle Financial Services Software (down 0.41%) and Wipro (down 0.5%), edged lower.

Most banks shares rose. Among private sector banks, IndusInd Bank (up 3.63%), Yes Bank (up 1.49%), Kotak Mahindra Bank (up 1.03%), City Union Bank (up 0.39%), Federal Bank (up 0.21%) and Axis Bank (up 0.12%), RBL Bank (down 0.72%) and ICICI Bank (down 0.85%), edged lower.

HDFC Bank fell 1.42%. The bank reported 20.3% rise in net profit to Rs 4799.28 crore on 18.5% increase in total income to Rs 25549.66 crore in Q4 March 2018 over Q4 March 2017. The result was announced on Saturday, 21 April 2018.

Total capital adequacy ratio (CAR) as per Basel III guidelines was at 14.8% as on 31 March 2018 (14.6% as on 31 March 2017) as against a regulatory requirement of 10.875% including Capital Conservation Buffer of 1.875%. Tier 1 CAR was at 13.2% as of 31 March 2018 compared to 12.8% as of 31 March 2017. Risk-weighted Assets were at Rs 800,126 crore (as against Rs 640,030 crore as at 31 March 2017). The bank's board of directors has recommended a dividend of Rs 13 per share for the year ended 31 March 2018.

Among state-run banks, IDBI Bank (up 2.97%), Allahabad Bank (up 2.26%), Union Bank of India (up 2.07%), Indian Bank (up 1.96%), United Bank of India (up 1.79%), Canara Bank (up 1.53%), Punjab National Bank (up 0.59%), State Bank of India (up 0.54%), Bank of Baroda (up 0.49%), Central Bank of India (up 0.43%), Andhra Bank (up 0.38%), Bank of Maharashtra (up 0.36%) and Bank of India (up 0.20%), edged higher. Vijaya Bank (down 0.09%), Corporation Bank (down 0.17%), Syndicate Bank (down 0.45%), Punjab & Sind Bank (down 0.54%) and Dena Bank (down 0.81%), edged lower.

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