Sensex Ends 227 Points Higher; Nifty Halts Longest Losing Streak In Over Eight Years
Closing Bell: Sensex, Nifty Halt Nine-Day Losing Streak
Indian equity benchmarks halted their nine-day losing streak, led by the gains in Reliance Industries Ltd. and ITC Ltd.
The S&P BSE Sensex closed 227 points or 0.6 percent higher at 37,318.53 and the NSE Nifty 50 ended at 11,222.05, up 0.66 percent. The 50-share index halted its longest losing streak in over eight years. The broader market index represented by the NSE Nifty 500 Index closed 0.57 percent higher.
The market breadth was tilted in favour of buyers. About 897 stocks advanced and 875 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU Bank Index’s 2.85 percent advance. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 1.2 percent.
Delta Corp Halts Six-Day Fall, Shares Jump Over 13%
Shares of Delta Corp halted a six-day decline and rose as much as 13.3 percent, the most in a year, to Rs 210.90.
Trading volume was almost 11 times its 20-day average, Bloomberg data showed. The stock traded at 22 times its estimated earnings per share for the coming year.
Stocks Reacting To Earnings Announcement
Siemens (Q4, YoY)
- Stock rose as much as 4.7 percent to Rs 1,100.
- Net profit up 27.6 percent to Rs 280.30 crore.
- Revenue up 8.1 percent to Rs 3,550 crore.
- Ebitda up 27 percent to Rs 410 crore.
- Margin at 11.55 percent versus 9.83 percent.
Polycab India (Q4, YoY)
- Stock fell as much as 3.8 percent to Rs 630.05.
- Revenue up 15.8 percent to Rs 2,448 crore.
- Net profit down 27.2 percent to Rs 137.3 crore.
- Ebitda down 34.9 percent to Rs 224.7 crore.
- Margin at 9.2 percent versus 16.4 percent.
- Project costs up 2.8 times to Rs 128.4 crore.
Westlife Development (Q4, YoY)
- Stock fell as much as 4.4 percent to Rs 349.95.
- Net profit up 4.7 percent to Rs 29.77 crore.
- Revenue up 12 percent to Rs 333.64 crore.
Cera Sanitaryware (Q4, YoY)
- Stock rose as much as 4.1 percent to Rs 2,885.
- Net profit up 23 percent to Rs 38 crore.
- Revenue up 14 percent to Rs 413 crore.
- Ebitda up 24 percent to Rs 64 crore.
- Margin at 15.5 percent versus 14.3 percent.
Sharda Cropchem (Q4, YoY)
- Stock fell as much as 2.6 percent to Rs 365.20.
- Net profit at Rs 105.62 crore versus Rs 113.23 crore.
- Revenue at Rs 764.35 crore versus Rs 765.88 crore.
PSU Banks Rally; Bank Of Baroda Gains Over 4%
The NSE Nifty PSU Bank Index rallied over 2 percent, led by the gains in Bank of Baroda, Punjab National Bank and Oriental Bank of Commerce.
Market Check: Sensex, Nifty At Day’s High
Indian equity benchmarks were trading at day’s high. Sensex rose nearly 200 points and Nifty traded above 11,200.