Sensex, Nifty End Little Changed; Small Caps Outperform
Closing Bell: Sensex, Nifty End Flat; Small Caps Outperform
Indian equity benchmarks were little changed in a highly volatile session as gains in ICICI Bank, Axis Bank and State Bank of India were offset by losses in HDFC twins, Reliance Industries and Kotak Mahindra Bank.
The S&P BSE Sensex was unchanged 35,591.25 and NSE Nifty 50 Index was flat at 10,652.
Eleven of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Metal Index’s 1.9 percent gain. On the flipside, S&P BSE Telecom Index was top loser down 1.3 percent.
Mid- and small-cap shares outperformed their larger peers as the S&P BSE MidCap Index rose 0.2 percent while the S&P BSE SmallCap Index climbed 0.8 percent.
Coal India Rises As Board To Consider Share Buyback Proposal
Shares of the country's largest mining company rose as much as 2.45 percent to Rs 228 as its board will meet on Feb. 4 to discuss and approve shares buyback proposal, Coal India said in an exchange filing.
HEG Rallies On Fixing Record Date For Purpose Of Share Buyback
Shares of the Madhya Pradesh-based graphite electrodes maker rose as much as 10 percent to Rs 2,172 after it fixed Feb. 9 as the record date for the purpose of share buyback.
Bajaj Auto Falls After Profit Declines In December Quarter
Shares of the country's second largest two-wheeler maker fell 1.51 percent to Rs 2,582 after its profit declined in December quarter.
Key earnings highlights:
- Revenues up 16 percent at Rs 7,409 crore versus Rs 6,387 crore (YoY); Estimate of Rs 7,467 crore.
- Net profit up 16 percent at Rs 1,102 crore versus Rs 952 crore (YoY); Estimate of Rs 1,047 crore.
- Ebitda down 7 percent at Rs 1,156 crore versus Rs 1,250 crore (YoY); Estimate of Rs 1,203 crore.
- Margin at 15.6 percent versus 19.5 percent (YoY); Estimate of 16.1 percent.
Indian Oil Off Day's Low On Reporting Surprise Profit In Q3
Shares of the country's largest state-run oil refiner came off intraday low levels after it reported surprise profit in December quarter against expectations of a loss.
Key earnings highlights:
- Revenue at Rs 1.60 lakh crore versus Rs 1.51 lakh crore (QoQ)
- Net profit down 78 percent at Rs 717 crore versus Rs 3,247 crore (QoQ); Estimate of loss of Rs 680 crore
- Ebitda down 47 percent at Rs 3,609 crore versus Rs 6,762 crore (QoQ)
- Margin at 2.58 percent versus 5.12 percent (QoQ)
- Average gross refining margin for April-December 2018 at $5.83 per barrel