A dealer looks at financial data on computer screens on the trading floor. (Photographer: Simon Dawson/Bloomberg)

Sensex, Nifty Rally In Afternoon Trade To Erase Most Of Yesterday’s Loss

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Sensex, Nifty Rally In Afternoon Trade To Erase Most Of Yesterday’s Loss

Indian equity benchmarks rallied in the afternoon after a topsy-turvy trade, erasing most of yesterday’s loss.

The S&P BSE Sensex index ended 0.95 percent higher at 35,144 and the NSE Nifty 50 Index ended at 10,582.50, up 0.96 percent.

The market breadth was tilted in favour of buyers. About 875 stocks advanced and 848 shares declined on National Stock Exchange. Seven out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Private Bank index's 1.2 percent gain. On the flipside, the NSE Nifty Pharma index was the top sectoral loser, down 1.4 percent.

Sensex, Nifty Rally In Afternoon Trade To Erase Most Of Yesterday’s Loss

United Bank Of India Q2 Loss Widens

United Bank of India's net loss widens during the three months ended September, according to its stock exchange notification.

Key earnings highlights (Q2, YoY)

  • Net loss at Rs 883 crore versus net loss of Rs 345 crore.
  • NII up 18 percent at Rs 442.6 crore.
  • Provisions at Rs 1,097 crore versus Rs 698 crore (QoQ).
  • Gross NPA at 22.69 percent versus 15.17 percent (QoQ).
  • Net NPA at 14.36 versus 15.17 percent (QoQ).

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Sensex, Nifty Rally In Afternoon Trade To Erase Most Of Yesterday’s Loss

Stocks Moving On Heavy Volumes

Ashoka Buildcon

  • Stock rose as much as 12.2 percent to Rs 138.
  • Trading volume was 8 times its 20-day average.

Godrej Industries

  • Stock rose as much as 9.4 percent to Rs 504.70.
  • Trading volume was 10.7 times its 20-day average.

Radico Khaitan

  • Stock rose as much as 8.4 percent to Rs 444.40.
  • Trading volume was 3.6 times its 20-day average.

Himadri Speciality Chemical

  • Stock fell as much as 8.5 percent to Rs 129.05.
  • Trading volume was 2.1 times its 20-day average.

Wockhardt

  • Stock fell as much as 8.6 percent to Rs 519.
  • Trading volume was 3.5 times its 20-day average.

Sun Pharma Declines Ahead Of Earnings Announcement

Shares of the countries largest pharmaceutical company fell as much as 5.7 percent to Rs 556.05 ahead of its results announcement.

Sun Pharma (Q2 Preview. YoY)

  • Revenue seen 14 percent higher at Rs 7,600 crore.
  • Net profit seen 14 percent higher at Rs 1,045 crore.
  • Ebitda seen 22 percent higher at Rs 1,672 crore.
  • Margin seen at 22.0 percent versus 20.7 percent.