Staff from the Motilal Oswal group celebrates on the trading room floor. (Photographer: Santosh Verma/Bloomberg News)

Sensex, Nifty Rally For Second Straight Day As Oil Prices Drop

Latest First
  • Oldest First

Closing Bell

Indian equity benchmarks rallied along with rupee after crude oil prices fell in international markets. The rally in today's session was led by private sector lenders.

The S&P BSE Sensex rose 0.76 percent or 262 points to 34,925 and the NSE Nifty 50 index climbed 0.87 percent or 91 points to 10,605.

For the week, benchmarks rebounded from worst week in two months. Sensex rose 0.2 percent and the Nifty advanced 0.08 percent.

All sector gauges barring the S&P BSE Consumer Durables index ended higher led by the S&P BSE Oil & Gas index's 3 percent gain.

The mid- and small-cap shares outperformed their larger peers as the Nifty Midcap 100 index surged 1.95 percent and the Nifty Smallcap 100 index jumped 1.5 percent.

Sensex, Nifty Rally For Second Straight Day As Oil Prices Drop

Page Industries Surges After March Quarter Earnings

Shares of the Bengaluru-based innerwear maker rose as much as 6.60 percent to Rs 24,930 after its profit beat Bloomberg consensus estimates in March quarter.

Key earnings highlights:

  • Revenue up 22.4 percent at Rs 608.4 crore versus estimate of Rs 596 crore
  • Net Profit up 41 percent at Rs 94.22 crore versus estimate of Rs 79.90 crore
  • Margin at 24.1 percent versus 19.6 percent (YoY)
  • EBITDA up 51 percent at Rs 146.9 crore versus Rs 97.3 crore (YoY)

Future Enterprises Pares Gains After Losses Widen In Q4

Shares of the Mumbai-based department store chain operator pared gains after it reported loss in March quarter.

Key earnings highlights:

  • Net loss widens to Rs 46.7 crore versus loss of Rs 39.3 crore (YoY)
  • Revenues at Rs 941 crore versus Rs 981 crore (YoY)

IDBI Bank Falls After Posting Loss Of Rs 5,660 Crore

Shares of the Mumbai-based government-owned bank fell as much as 4.84 percent to Rs 63.85 after its losses widened in March quarter.

Key earnings highlights:

  • Net loss at Rs 5,662.76 crore versus loss of Rs 3,199.70 crore
  • Net interest income down 44 percent at Rs 915 crore versus Rs 1,634 crore (YoY)
  • Gross non-performing assets as a percentage of total advances at 27.95 percent versus 24.72 percent (QoQ)
  • Net non-performing assets as a percentage of total advances at 16.69 percent versus 16.02 percent (QoQ)
  • FY17 divergence in provisioning at Rs 4,464 crore
  • Provisions for NPAs at Rs 10,773 crore versus Rs 3,637.5 crore (QoQ); Rs 6,054.4 crore (YoY)

Cadila Healthcare Surges On Profit Beat In March Quarter

Shares of the Ahmedabad-based drugmaker rose as much as 9 percent, the most in over 11 months, to Rs 389.90 after its profit beat Bloomberg consensus estimates in March quarter.

Key earnings highlights:

  • Net profit up 53 percent at Rs 591 crore versus estimate of Rs 547 crore
  • Revenues up 29 percent at Rs 3,250 crore versus Rs 3,208 crore
  • EBITDA up 87 percent at Rs 870.4 crore versus Rs 464.9 crore (YoY)
  • Margins at 26.8 percent versus 18.8 percent (YoY)