Brokers watch their screens during trading hours inside a dealing room at a bank in Mumbai, India. (Photographer: Abhijit Bhatlekar/Bloomberg News)

Sensex, Nifty Decline After Clocking Best Week In Two Years

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Closing Bell: Sensex, Nifty Decline Led By Losses In HDFC, ICICI Bank

Indian equity benchmarks declined after clocking best weekly gains in over two years led by losses in HDFC, ICICI Bank, IndusInd Bank, ITC and TCS.

The S&P BSE Sensex declined 0.17 percent or 61 points to 34,951 and the NSE Nifty 50 Index fell 0.27 percent or 29 points to 10,524.

Thirteen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Power Index's 1.6 percent drop. Oil & Gas and Utilities Indices on the BSE also fell over 1 percent each. On the flipside, the S&P BSE Realty Index was top gainer, up 1.5 percent.

The mid- and small-cap shares edged lower as the S&P BSE MidCap Index fell 0.47 percent and the S&P BSE SmallCap Index slipped 0.28 percent.

State Bank Of India Surges After Asset Quality Improves In Q2

Shares of the country's largest lender pared gains after rising as much as 5.13 percent to Rs 300 after its asset quality improved in September quarter.

Key earnings highlights:

  • Net profit down 40 percent at Rs 945 crore versus Rs 1,582 crore (YoY)
  • Net interest income up 12.5 percent at Rs 20,906 crore versus Rs 18,586 crore (YoY)
  • Exceptional gain of Rs 1,561 crore on sale of partial investments in SBI General Insurance and transfering bank's merchant acquiring business to wholly owned arm SBI Payment Services.
  • Gross non performing assets as a percentage of total advances at 9.95 percent versus 10.69 percent (QoQ)
  • Net non performing assets as a percentage of total advances at 4.84 percent versus 5.29 percent (QoQ)
  • Fresh slippages at Rs 10,888 crore versus Rs 14,350 crore (QoQ)

GAIL India Extends Gains On Profit Beat In Q2

Shares of the Delhi-based government-owned gas distribution company extended gains and rose as much as 2 percent to Rs 377.35 after its profit beat Bloomberg consensus estimates in September quarter.

Key earnings highlights:

  • Net profit rose 56 percent to Rs 1,963 crore versus Rs 1,259 crore (QoQ); Estimate of Rs 1,518 crore
  • Revenue rose 11.42 percent to Rs 19,275 crore versus Rs 17,298 crore (QoQ)
  • Ebitda up 30 percent at Rs 2,928 crore versus Rs 2,244 crore (QoQ)
  • Margin at 15.2 percent versus 13 percent (QoQ)

Jet Airways Surges On Report Tata's In Second Round Talks To Buy Stake

Shares of the Mumbai-based airline operator rose as much as 7.81 percent to Rs 247 on report that Tata's are in second round talks to buy stake in Jet Airways, CNBC TV18 reported citing sources.

Wabco India Surges On Profit Beat In Q2

Shares of the Chennai-based auto parts maker rose as much as 5 percent to Rs 6,980 after its net profit surpassed Bloomberg consensus estimates in September quarter.

Key earnings highlights:

  • Net profit rose 23 percent to Rs 95.52 crore versus Rs 77.59 crore; Estimate of Rs 74.5 crore
  • Revenue rose 15 percent to Rs 663.64 crore versus Rs 578.24 crore
Sensex, Nifty Decline After Clocking Best Week In Two Years