Sensex, Nifty Extend Losses For Third Straight Day
Indian equity benchmarks extended losses for the third day after Brent Crude rose above $80 per barrel for first time since Nov. 2014 raising concerns about the country’s deteriorating macros.
The S&P BSE Sensex fell 0.67 percent or 238.76 points to 35,149.12 and the NSE Nifty 50 index declined 0.54 percent or 58.40 points to 10,682.70.
Ten out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Fast Moving Consumer Goods index's 0.9 percent drop. On the flipside, the S&P BSE Consumer Durables index was the top gainer, up 1.4 percent gain.
The mid- and small-cap shares outperformed their larger peers as the S&P BSE MidCap index rose 0.7 percent and the S&P BSE SmallCap index advanced 0.4 percent.
Brent Crude Rises To $80 For First Time In Nearly 4 Years
Brent Crude rose to $80 per barrel, its highest level since Nov. 2014.
Bajaj Finance Surges Most In Nearly 18 Months On Strong Q4
Shares of the Pune-based consumer finance company rose as much as 8.79 percent to record high of Rs 2,088.80 after it best quarterly profit in over six years.
Reliance Naval And Engineering Surges 30% On Heavy Volumes
Shares of the Anil Ambani-led defence equipment maker surged 30 percent to Rs 16.60 on the back of heavy volumes.
Trading volume was 6.6 times its 20-day average.
Meanwhile, the BSE has sought clarification from the company regarding sudden surge in its share price for which the reply is awaited.
Shares of other Reliance Group companies were also trading higher:
- Reliance Communications up 50 percent
- Reliance Power up 6.31 percent
- Reliance Infrastructure up 2.95 percent
- Reliance Capital up 4.56 percent
Alembic March Quarter Profit Rises 10%; Shares Gain
Shares of the Gujarat-based drugmaker rose 4 percent to Rs 52.90 after it reported March quarter earnings.
Key earnings highlights:
- Profit up 10 percent at Rs 33.1 crore versus Rs 30.24 crore (YoY)
- Revenue down 7 percent at Rs 33.21 crore versus Rs 35.83 crore (YoY)