An employee walks along a pathway at the National Stock Exchange (NSE) in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)

Nifty Snaps Five-Day Record Breaking Spree

Latest First
  • Oldest First

Closing Bell: Nifty Snaps Five-Day Record-Breaking Spree

India's NSE Nifty 50 index snapped its five-day record-breaking spree dragged by the country's largest lender, State Bank of India, after it reported third consecutive quarterly loss.

The S&P BSE Sensex fell 0.4 percent or 155 points to 37,869 and the NSE Nifty 50 index declined 0.4 percent or 41 points to 11,429.

On a weekly basis, the benchmarks rose for a third week in a row with the Sensex advancing 0.8 percent and Nifty climbing 0.6 percent.

In intraday deals, eight out of 11 sector gauges compiled by National Stock Exchange ended lower dragged by Nifty PSU Bank index's 3.8 percent drop. On the flipside, the Nifty IT index was top gainer, up 0.5 percent.

The mid- and small-cap shares underperformed their larger peers as the Nifty Midcap 100 and Nifty Smallcap 100 indexes fell over 0.5 percent each.

Hindalco Struggles After Reporting June Quarter Earnings

Shares of the Aditya Birla Group aluminium and copper producer fell as much as 3.23 percent to Rs 220.10.

Key earnings highlights:

  • Net profit at Rs 414 crore versus Bloomberg estimate of Rs 440 crore
  • Revenue at Rs 10,593 crore versus Bloomberg estimate of Rs 11,010 crore
  • Other income at Rs 105 crore

Indraprastha Gas Falls As Profit Miss Estimates In Q1

Shares of the Delhi-based city gas distribution company fell as much as 4.6 percent to Rs 289.35 after its profit missed Bloomberg consensus estimates in June quarter.

Key earnings highlights:

  • Net profit at Rs 175.8 crore versus estimate of Rs 186 crore
  • Revenue up 6 percent at Rs 1,287 crore versus Rs 1,214 crore (QoQ)
  • Ebitda up 1.2 percent at Rs 295.06 crore versus Rs 291 crore (QoQ)
  • Margin at 22.9 percent versus 24 percent (QoQ)

GAIL India Falls Despite Beating Estimates In June Quarter

Shares of the Delhi-based distributor and processor of natural gas fell as much as 5.2 percent to Rs 354.80 despite beating Bloomberg estimates in June quarter.

Key earnings highlights:

  • Net Profit up 23.3 percent at Rs 1,259 crore versus Rs 1,021 crore (QoQ) Estimate of Rs 1,164 crore
  • Revenue up 12 percent at Rs 17,298.6 crore versus Rs 15,430.7 crore (QoQ); Estimate of Rs 15,864 crore
  • Ebitda up 32.4 percent at Rs 2243.6 crore versus Rs 1695.2 crore (QoQ)
  • Margin at 13 percent versus 11 percent (QoQ)

SBI Rebounds As Gross NPA Addition Halves In June Quarter

State Bank of India shares recovered from intraday low levels and rose as much as 2.84 percent to Rs 326.40 after it added lesser amount of non-performing assets in June quarter.

The country’s largest lender added Rs 14,349 crore of gross bad loans in June quarter compared with Rs 32,821 crore in the previous quarter.

Nifty Snaps Five-Day Record Breaking Spree