Sensex, Nifty End 3% Higher As Banking Stocks Outperform
An employee walks past electronic ticker boards that indicate the latest stock figures inside the atrium at the National Stock Exchange (NSE) in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty End 3% Higher As Banking Stocks Outperform

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Markets At Close

  • Benchmark indices end near the day's high
  • Nifty ends 3.17% higher at 9,314
  • Sensex ends 3.25% higher at 31,605
  • Nifty Bank ends 7.3% higher at 18,710
  • Nifty Midcap index ends 0.34% higher
  • Nifty Smallcap index ends 0.7% higher
  • India Volatility Index ends 1% lower at 31.16
  • Nifty I.T. (up 2.8%), Nifty PSU Bank (up 3.4%) and Nifty Realty (up 1.75%) among the sectoral gainers
  • Axis Bank ends as the top Nifty gainer; up 14.2%
  • Sun Pharma ends as the top Nifty laggard; down 2%
  • 1,070 stocks on the NSE end with gains while 700 decline

Contributors To Nifty's Upside

Closing Bell: Banks All The Way

The penultimate day of the May series F&O expiry turned out to be a strong one for the Indian equity markets.

Cues from Europe are positive while futures on the Dow Jones have extended gains to trade higher by over 350 points.

The S&P BSE Sensex ended 3.25 percent higher at 31,605 while the NSE Nifty 50 index managed to close above the 9,300 mark at 9,314, up 3.2 percent. Both the benchmark indices snapped a two-day losing streak.

Among sectoral indices, the Nifty Bank was the star performer, ending with gains of over 7%. Other sectoral gainers included Nifty I.T. (up 3%), Nifty Metal (up 2.6%) and the Nifty PSU Bank index (up 3.4%)

Market breadth remained in favour of the advances. 1,070 stocks on the NSE ended with gains while 700 declined.

Stock Update: Aditya Birla Fashion & Retail

The Board of Directors of the company have approved raising funds to the tune of Rs 1,000 crore through a rights issue.

The record date for eligibility for the rights issue will be determined in due course, as per the exchange filing.

Promoter and the promoter group will also participate in the rights issue, the company said.

Shares currently trade 0.7% lower at Rs 108, down for the third straight day.

Earnings Fineprint & Stock Reaction: Dabur India Q4FY20

  • Revenue down 12.3% to Rs 1,865.4 crore
  • Net profit down 24.1% to Rs 281.2 crore
  • Ebitda down 22.9% to Rs 352.3 crore
  • Ebitda margin narrows to 18.9% from 21.5%
  • Consumer care business revenue down 11% to Rs 1,590 crore
  • Food business revenue down 21.5% to Rs 219 crore
  • Retail business revenue down 9.7% to Rs 28.2 crore
  • Recommends final dividend of Rs 1.6 per share
  • Exceptional item of Rs 20 crore for provision for impairment in value of treasury investment due to rating downgrade and default in repayment
  • India business reports a volume de-growth of 14.6% this quarter

Shares fell as much as 2.1% to Rs 424 post the announcement.

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