Stock price information is reflected in a glass panel as a trader monitors financial data during the official opening of the stock trading floor. (Photographer: Andrey Rudakov/Bloomberg)

Sensex, Nifty Rise On Expiry Day; Yes Bank Surges 8% On Q4 Beat

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Closing Bell

Indian equity benchmarks rose led by Yes Bank after it beat Bloomberg consensus estimates in March quarter on expiry day of April F&O contracts.

The S&P BSE Sensex rose 0.62 percent or 212 points to 34,713.60 and the NSE Nifty 50 index gained 0.45 percent or 47 points to 10,617.80.

For most part of the day, the Sensex and Nifty traded in a narrow range amid pressure of F&O expiry. However, they staged a sharp upmove after Yes Bank rose the most in two years on beating estimates in March quarter.

In the April series, Nifty rose 4.98 percent and Sensex advanced 5.29 percent, posting best their derivative series in three months.

Seven out of 11 sector gauges compiled by National Stock Exchange ended higher led by the Nifty FMCG index's 1.18 percent gain. On the flipside, Nifty PSU Bank index was the top sectoral loser, down 1.17 percent.

Sensex, Nifty Rise On Expiry Day; Yes Bank Surges 8% On Q4 Beat

IDFC, Hathway Cable Among Fab Four Stocks Of The Day

IDFC: The Mumbai-based commercial finance company staged a sharp upmove and rose as much as 7.15 percent, the most in over six months, to intraday high of Rs 56.29. IDFC is in talks to sell its asset management and stock broking units, The Economic Times reported citing unidentified people familiar with the discussions.

Shaily Engineering: The Gujarat-based plastic products maker rose as much as 8 percent to record high of Rs 1,510 after HDFC Mutual Fund bought stake in the company.

Hathway Cable and Datacom: The Mumbai-based digital cable TV service provider snapped its 5-day losing streak, rising 8.3 percent to Rs 35.20.

Shah Alloys: The Ahmedabad-based steel products maker rose as much as 6 percent to Rs 41.55 after it signed settlement pact with ARCIL.

Market Check: Sensex, Nifty Stage Sharp Upmove Amid F&O Expiry

  • Indian equity benchmarks staged a sharp up move led by Yes Bank, ITC, TCS and Infosys amid expiry of derivative contracts for the month of April.
  • The S&P BSE Sensex rose 0.65 percent or 225 points to 34,725 and the NSE Nifty 50 index gained 0.48 percent or 51 points to 10,3622.
  • The overall market breadth was negative as 1,082 shares were advancing while 1,492 were declining.

RCom Falls After Top Court Orders It To Pay Spectrum Dues

Shares of the Anil Ambani-led telecom company fell 4.5 percent to Rs 16.85.

The Supreme Court has ordered Reliance Communications to pay spectrum dues of Rs 774 crore to the telecom department by May 2 after the company moved the top court seeking more time to clear dues, The Economic Times reported.

Yes Bank Rises After Asset Quality Improves In Q4

Shares of the Mumbai-based private sector lender rose as much as 4.53 percent to Rs 340 after its asset quality improved and net profit beat Bloomberg consensus estimates in March quarter.

Key earning highlights:

  • Net profit at Rs 1,179.44 crore versus Rs 914.12 crore (YoY); Bloomberg estimate of Rs 1,090 crore.
  • Net interest income up 31.3 percent at Rs 2,154.24 crore versus Rs 1,639.70 crore (YoY)
  • Net interest margin at 3.4 percent versus 3.5 percent (QoQ)
  • Gross non-performing assets (NPA) as a percentage of total advances at 1.28 percent versus 1.72 percent (QoQ)
  • Net NPA as a percentage of total advances at 0.64 percent versus 0.93 percent (QoQ)
  • Entire mark to market loss recognized in respective quarters
  • Yes Bank did not avail option to spread bond losses to different quarters
  • Board approves re-appointment of Rana Kapoor as MD & CEO for 3 years starting Sep. 1, 2018
  • Board approves raising $1 billion in capital
  • Total capital adequacy at 18.4 percent with total capital funds at Rs 46,975.7 crore
  • Retail banking advances grew by 99.1 percent (YoY) to 12.2 percent of total advances
  • Advances up 53.9 percent at Rs 2.03 lakh crore (YoY)