Sensex, Nifty Log Second Worst Week In Over A Month
A monitor displays stock chart on the floor of the New York Stock Exchange. (Photographer: Michael Nagle/Bloomberg)

Sensex, Nifty Log Second Worst Week In Over A Month

Latest First
  • Oldest First

BQ Live

Closing Bell: Sensex Drops 170 Points, Nifty Settles Below 10,800

India's NSE Nifty 50 Index edged lower paced by Zee Entertainment's biggest single day decline in nearly 20 years.

The S&P BSE Sensex fell 0.47 percent or 170 points to 36,025 and the NSE Nifty 50 Index dropped 0.64 percent or 69 points to 10,781.

For most part of the day, benchmarks traded firmly higher but wiped out gains in afternoon deals as Zee Entertainment dropped as much as 33.55 percent after a report said that its controlling shareholder Essel Group’s name had emerged in a probe linked to large deposits made after demonetisation.

Maruti Suzuki added to the selling pressure after its profit missed Bloomberg consensus estimates in December quarter.

All sector gauges compiled by National Stock Exchange, barring the Nifty IT Index ended lower led by the Nifty Media Index's 16 percent decline.

Mid- and small-cap shares also witnessed selling pressure as Nifty Midcap 100 and Nifty Smallcap 100 Indices declined over 1.5 percent each.

Indian Bank Drops After Asset Quality Deteriorates In Q3

Shares of the Chennai-based bank fell as much as 10 percent to Rs 231 after its asset quality worsened in December quarter.

Key earnings highlights:

  • Net interest income up 5.8 percent at Rs 1716.7 crore versus Rs 1622.7 crore
  • Net profit down 49.8 percent at Rs 152.3 crore versus Rs 303.1 crore
  • Provisions at Rs 973.9 crore versus Rs 385.5 crore (Rs 752.5crore QoQ)
  • GNPA at 7.46 percent versus 7.16 percent (QoQ)
  • NNPA at 4.42 percent versus 4.23 percent (QoQ)

DLF Drops On Report CBI Visits Its Offices

Shares of the Delhi-based real estate developer fell as much as 19.5 percent, the most in over two years, to Rs 143.10 after CNBC TV18 reported that Central Bureau of Investigation visited the real estate major’s offices in Delhi-NCR in connection to a land acquisition matter.

Maruti Suzuki Drops Most In 18 Months After Profit Misses Estimates In Q3

Shares of the country's largest car maker fell as much as 9 percent, the most in over 18 months, to Rs 6,411 after its profit missed Bloomberg consensus estimates in December quarter.

Key earnings highlights:

  • Revenue up 2 percent at Rs 19,668 crore versus Rs 19,283 crore (YoY); Estimate of Rs 19,600 crore
  • Profit down 17 percent at Rs 1,489.30 crore versus Rs 1,799 crore (YoY); Estimate of Rs 1,695 crore
  • Ebitda down 36 percent Rs 1,930 crore versus Rs 3,038 crore (YoY); Estimate of Rs 2,620 crore
  • Margin at 9.8 percent versus 15.7 percent (YoY); Estimate of 13.4 percent

Zee Entertainment Extends Drop Falls Most In Over 11 Years

Shares of the Mumbai-based media company extended decline and dropped as much as 24 percent, its biggest intraday fall since 2008, to Rs 330, according to data compiled by Bloomberg.

Serious Fraud Investigation Office (SFIO) is currently probing a company called Nityank Infrapower (formerly Dreamline Manpower), for deposits of over Rs 3,000 crore made just after demonetization. Publicly available documents show Nityank and a group of shell firms carried out financial transactions that involved a few firms associated with the Essel Group of Subhash Chandra between 2015 and 2017, news website The Wire reported.

Sensex, Nifty Log Second Worst Week In Over A Month
BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.