An employee walks past a signage for the CNX Nifty Index displayed on the National Stock Exchange of India Ltd. (NSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Clock Weekly Losses As Yes Bank Slumps 26%

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Closing Bell: Sensex, Nifty Clock Weekly Losses

Indian equity benchmarks registered their weekly losses, dragged by Yes Bank Ltd., as the Mumbai-based lender fell 26 percent during the period after reporting a surprise loss in March quarter.

The S&P BSE Sensex closed 0.27 percent lower this week to end at 38,963.26 and the NSE Nifty 50 ended at 11,712.25, down 0.36 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.67 percent during the period.

The markets were closed on April 29 as India’s financial capital went to the polls and on May 1 on account of Maharashtra Day.

Today, the benchmark indices ended the session with minor losses. The 31-share index closed 18.17 points or 0.05 percent lower and the 50-stock index ended 0.11 percent lower. The 500-share gauge fell 0.13 percent.

The market breadth was tilted in favour of sellers. About 1,031 stocks fell and 702 shares advanced on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 1.57 percent gain. On the flipside, the NSE Nifty It Index was the top sectoral loser, down 1.89 percent.

Sensex, Nifty Clock Weekly Losses As Yes Bank Slumps 26%

Stocks Moving On Heavy Volumes

Gujarat Alkalies & Chemicals

  • Stock rose as much as 7.9 percent to Rs 535.40.
  • Trading volume was nine times its 20-day average.

Blue Star

  • Stock rose as much as 4.2 percent to Rs 711.25.
  • Trading volume was more than 13 times its 20-day average.

Minda Corp

  • Stock fell as much as 4.4 percent to Rs 120.
  • Trading volume was more than 12 times its 20-day average.

JM Financial

  • Stock fell as much as 5.7 percent to Rs 83.10.
  • Trading volume was nine times its 20-day average.

HSIL Swings After Q4 Results

Shares of HSIL fluctuated between gains and losses to trade 1.6 percent lower at Rs 260.30 after announcing March quarter results.

Key Earnings Highlights (Q4, YoY)

  • Revenue up 22 percent to Rs 809 crore.
  • Net profit up 58 percent to Rs 38 crore.
  • Ebitda up 52 percent to Rs 113 crore.
  • Margin at 14 percent versus 11.3 percent.

Godrej Consumer Q4 Profit Jumps On Tax Write-Back

Godrej Consumer’s profit during January March period rose on account of tax write-back.

The company reported a net profit of Rs 935 crore, a jump of 51 percent from the year-ago period, according to its stock exchange filing. That compared with Rs 419-crore analysts consensus estimate tracked by Bloomberg. The profit rose on account of tax write-back of Rs 533 crore. Besides, the company had reported an exceptional income of Rs 533 crore during the base quarter.

Key Earnings Highlights (Q4, YoY)

  • Revenue down 3.1 percent to Rs 2,452 crore.
  • Ebitda down 3.4 percent to Rs 577 crore.
  • Margin at 23.5 percent versus 23.6 percent.
  • Branded volumes growth at 1 percent.

Shares of Godrej Consumer fell as much as 3.6 percent to Rs 631.10 after the results announcement.

JM Financial Recovers After Block Deal

Shares of JM Financial pared losses and rose as much as 0.1 to Rs 88.20. The stock fell 5.7 percent intraday.

About 40 lakh shares of the company changed hands in block deal, Bloomberg data showed. Buyers and sellers were not known immediately.