img

Get In Touch

img

NIFTY 9904.15 img 6.85

SENSEX 31795.46 img 24.57

GOLD 28989.00

SILVER 38973.00

1 USD / INR 64.16

Attention Investors! "Prevent Unauthorised Transactions in your account --> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day. Issued in the interest of Investors."           Attention Investors! "Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL/CDSL on the same day. Issued in the interest of investors."           "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."           "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."           "As per SEBI guidelines, old DIS cannot be accepted for execution of instruction with effect from 07-01-2016. Kindly submit requisition slip / letter for issuance of new DIS booklet at our corporate office address to avoid rejection of your instruction(s) on or after 07-01-2016.”            "In accordance with the Union Budget 2017-18 announcement, SEBI has advised to link Aadhar with individual demat accounts. Kindly submit details of Aadhar number along with copy of Aadhar Card.”          

Market News

  • 11

    Aug
    2017

    Sensex settles at over 5-1/2-week low

    Key benchmark indices registered strong losses on last trading day of the week on weak global cues amid escalating tensions between the US and North Korea. The barometer index, the S&P BSE Sensex, lost 317.74 points or 1.01% to settle at 31,213.59. The Nifty index lost 109.45 points or 1.11% to settle at 9,710.80. Key indices logged declines for the fifth straight trading session. The Sensex settled at its lowest level in over 5-1/2 weeks. The Nifty settled at 5-week low.

    Metal and mining stocks dropped. PSU bank stocks dropped sharply. Shares of Cochin Shipyard saw strong debut on the bourses today, 11 August 2017.

    Sentiment was also affected adversely after the finance ministry said in its mid-year economic survey today, 11 August 2017, that there are downside risks to the Indian government`s growth forecast of 6.75-7.5% for the fiscal year to March 2018.

    Domestic stocks saw a gap-down opening on weak global cues as geopolitical tensions prompted investors to adopt a risk off approach. Stocks cut losses in morning trade. Stocks languished in the red later during the session. Key indices extended losses since afternoon trade and hit fresh intraday low in late trade.

    The Sensex lost 317.74 points or 1.01% to settle at 31,213.59, its lowest closing level since 4 July 2017. The Sensex fell 152.13 points or 0.48% at the day`s high of 31,379.20. The index lost 403.31 points or 1.28% at the day`s low of 31,128.02.

    The Nifty index lost 109.45 points or 1.11% to settle at 9,710.80, its lowest closing level since 7 July 2017. The Nifty fell 48.60 points or 0.49% at the day`s high of 9,771.65. The index lost 134.70 points or 1.37% at the day`s low of 9,685.55.

    The S&P BSE Mid-Cap index fell 0.2%. The S&P BSE Small-Cap index fell 0.04%. The fall in both these indices was lower than the Sensex`s decline in percentage terms.

    The market breadth, indicating the overall health of the market, was weak. On the BSE, 1,558 shares fell and 980 shares rose. A total of 129 shares were unchanged.

    The total turnover on BSE amounted to Rs 4363.57 crore, lower than the turnover of Rs 4589.35 crore registered during the previous trading session.

    Among the sectoral indices on BSE, the BSE Auto index (down 1.51%), the BSE Capital Goods index (down 1.2%), the BSE Metal index (down 3.63%) and the BSE Realty index (down 1.32%) underperformed the Sensex. The BSE Healthcare index (up 0.22%), the BSE IT index (down 0.21%) and the BSE Bankex index (down 0.88%) outperformed the Sensex.

    Tata Motors dropped 1.71%. The company and Skoda ceased discussions around potential partnership. The announcement was made after market hours yesterday, 10 August 2017. Tata Motors and Skoda Auto have performed a joint technical feasibility and commercial evaluation of a potential collaboration. Based on intense and constructive discussions, both the companies have jointly concluded that the envisioned areas of partnership may not yield the desired synergies as originally assessed. Nevertheless, the two companies have decided to keep in touch for future areas of collaborations.

    Tata Motors will continue to pursue its standalone product strategy to bring exciting and world-class products to its customers.

    Metal and mining stocks dropped. Vedanta (down 6.74%), Tata Steel (down 1.39%), Steel Authority of India (Sail) (down 3.99%), NMDC (down 3.29%), National Aluminium Company (down 3.4%), Hindustan Zinc (down 3.5%) and Hindustan Copper (down 2.29%) edged lower. JSW Steel (up 0.58%) and Jindal Steel & Power (up 3.45%) rose.

    Hindalco Industries slumped 7.15% after net profit fell 1.36% to Rs 290 crore on 27.55% growth in revenue from operations to Rs 10407 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 11 August 2017.

    Hindalco`s net profit in Q1 June 2017 factors the exceptional provisioning of Rs 104 crore which is on the basis of recent Supreme Court judgement in a matter relating to mining regulation (to which the company was not a party). Hindalco anticipates that the judgement may have an implication on its existing litigation which is sub-judice. The provision has been made as a matter of abundant caution.

    The company`s earnings before interest, taxation, depreciation and amortization (EBITDA) rose 3.92% to Rs 1404 crore in Q1 June 2017 over Q1 June 2016, on account of higher aluminium and copper volumes, supportive macros partly offset by higher input cost.

    MOIL rose 3.57% after the company said its board recommended 1:1 bonus issue of shares. MOIL announced that its net profit surged 107.3% to Rs 97.73 crore on 82.7% increase in net sales to Rs 339.40 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 10 August 2017.

    Banks stocks declined. PSU bank stocks dropped sharply. Punjab National Bank (down 2.27%), Bank of Baroda (down 3.91%), Canara Bank (down 1.52%), IDBI Bank (down 2.23%) and Bank of India (down 3.48%) dropped.

    State Bank of India (SBI) lost 5.36% after the bank`s net profit fell 20.44% to Rs 2005.53 crore on 28.57% rise in total income to Rs 62911.08 crore in Q1 June 2017 over Q1 June 2016. The first quarter results are not comparable with year ago period due to merger of its subsidiaries with self, SBI said. The announcement was made during market hours today, 11 August 2017.

    The bank`s gross non-performing assets (NPAs) stood at Rs 188068.49 crore as on 30 June 2017 as against Rs 112342.99 crore as on 31 March 2017 and Rs 101541.18 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 9.97% as on 30 June 2017 as against 6.90% as on 31 March 2017 and 6.94% as on 30 June 2016.

    The ratio of net NPAs to net advances stood at 5.97% as on 30 June 2017 as against 3.71% as on 31 March 2017 and 4.05% as on 30 June 2016. The bank`s provisions and contingencies rose 20.46% to Rs 8929.48 crore in Q1 June 2017 over Q1 June 2016. Of this, provisions for NPAs rose 91.26% to Rs 12125.26 crore in Q1 June 2017 over Q1 June 2016. Provision coverage ratio of the bank was at 60.79% as on 30 June 2017.

    Union Bank of India lost 5.24% after net profit fell 29.9% to Rs 116.58 crore on 7.3% growth in total income to Rs 9567.69 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hour yesterday, 10 August 2017.

    The bank`s gross non-performig assets (NPAs) stood at Rs 37286.33 crore as on 30 June 2017 as against Rs 33712.28 crore as on 31 March 2017 and Rs 27280.90 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 12.63% as on 30 June 2017 as against 11.17% as on 31 March 2017 and 10.16% as on 30 June 2016.

    The ratio of net NPAs to net advances stood at 7.47% as on 30 June 2017 as against 6.57% as on 31 March 2017 and 6.16% as on 30 June 2016. The bank`s provisions and contingencies rose 25.9% to Rs 1703.71 crore in Q1 June 2017 over Q1 June 2016.

    Bank of Maharashtra fell 0.57%. The Government of India raised its stake in the bank to 82.91% from 81.61% earlier. The announcement was made during trading hours today, 11 August 2017. Bank of Maharashtra said that its board allotted 8.88 crore equity shares at Rs 33.75 each to the Government of India (GoI) on preferential basis. Consequently, shareholding of GoI in Bank of Maharashtra has increased from 81.61% to 82.91%.

    Indian Overseas Bank lost 2.16% after the bank reported net loss of Rs 499.09 crore in Q1 June 2017 compared with net loss of Rs 1450.50 crore in Q1 June 2016. The result was announced after market hour yesterday, 10 August 2017.

    Indian Overseas Bank`s total income declined 11.8% to Rs 5174.50 crore in Q1 June 2017 over Q1 June 2016. The bank`s gross non-performing assets (NPAs) stood at Rs 35453.12 crore as on 30 June 2017 as against Rs 35098.25 crore as on 31 March 2017 and Rs 33913.15 crore as on 30 June 2016.

    The ratio of gross NPAs to gross advances stood at 23.6% as on 30 June 2017 as against 22.39% as on 31 March 2017 and 20.48% as on 30 June 2016. The ratio of net NPAs to net advances stood at 14.97% as on 30 June 2017 as against 13.99% as on 31 March 2017 and 13.97% as on 30 June 2016. The bank`s provisions and contingencies fell 24.8% to Rs 1607.88 crore in Q1 June 2017 over Q1 June 2016.

    Among private bank stocks, HDFC Bank (down 0.47%), Kotak Mahindra Bank (down 0.13%), RBL Bank (down 0.02%), ICICI Bank (down 0.55%) and IndusInd Bank (down 0.08%) declined. Axis Bank (up 0.63%) and Yes Bank (up 0.62%) rose.

    Cipla lost 1.13%. The company`s consolidated net profit rose 23.63% to Rs 424.92 crore on 0.03% growth in total income to Rs 3676.43 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 11 August 2017.

    Bosch slipped 3.72% after net profit fell 20.09% to Rs 302.61 crore on 1.93% growth in total income to Rs 2959.97 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 11 August 2017.

    GAIL (India) rose 1.54%. The company`s net profit declined 23.2% to Rs 1025.64 crore on 6.7% growth in net sales to Rs 11406.47 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 10 August 2017.

    Cochin Shipyard settled at Rs 522 on BSE, a premium of 20.83% over initial public offer (IPO) price of Rs 432 per share on its debut today, 11 August 2017. The stock opened at Rs 435, a premium of 0.69% over issue price. The stock settled at the intraday high level. It had a hit a low of Rs 435 in intraday trade. On the BSE, 32.45 lakh shares were traded on the counter.

    The IPO of Cochin Shipyard had received a stellar response from investors. It was oversubscribed 76.19 times. The IPO price band was fixed at Rs 424-432 per share. Cochin Shipyard is one of the leading ship building and ship repairing companies in India.

    Meanwhile, the finance ministry said in its mid-year economic survey today, 11 August 2017, that there are downside risks to the Indian government`s growth forecast of 6.75-7.5% for the fiscal year to March 2018. The survey, authored by Chief Economic Adviser Arvind Subramanian, also said inflation was expected to remain below the central bank`s 4% target through to the end of the fiscal year and described scope for monetary easing as considerable.

    Overseas, European and Asian stocks dropped as investors continued to pare their riskier positions following escalating geopolitical tensions between the US and North Korea. Japan`s markets were shut for a public holiday. US stocks finished sharply lower yesterday, 10 August 2017 amid a persistent war of words between the US and North Korea and a clutch of disappointing earnings reports.

    Geopolitical tension gained momentum yesterday, 10 August 2017 after a North Korean army commander reportedly said that sound dialogue isn`t possible with US President Donald Trump and only absolute force can work on him. North Korea also laid out detailed plans of how it would launch a missile strike on US military bases in Guam. Reports in media indicated that China would intervene if there is a first strike against North Korea.

    Powered by Capital Market - Live News

Copyright © 2017. All Rights Reserved. Indiabulls Ventures Limited. | Privacy Policy | Sitemap

Indiabulls Ventures Limited. [Corporate Identification Number for IVL: L74999DL1995PLC069631]
SEBI Reg No: INZ000007534 | NSE Membership No: 08756 [CM, FNO, CDS] | BSE Membership No: 907 [CM, FNO]
Indiabulls Commodities Ltd. - [Corporate Identification Number for ICL: U74999DL2003PLC122874]
SEBI Reg No: INZ000036136 | MCX: MEMBER CODE: 12835 | NCDEX: MEMBER CODE: 10

Site best viewed in IExplorer 10+ | Chrome | Firefox