Sensex, Nifty Resume Declines After One-Day Rally
The Bombay Stock Exchange (BSE) logo sits on a cordon at the exchange building in Mumbai, India,. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Resume Declines After One-Day Rally

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Sensex, Nifty Resume Declines After One-Day Rally

Indian equity benchmarks resumed declines after rallying yesterday, led by the fall in private lenders—HDFC Bank ltd. ICICI Bank Ltd. and IndusInd Bank Ltd.

The S&P BSE Sensex fell 0.78 percent to close at 37,880 and the NSE Nifty 50 declined 0.7 percent to end at 11,234.55. The broader markets represented by the NSE Nifty 500 Index fell 0.71 percent.

The market breadth was tilted in favour of sellers. About 1,141 stocks declined and 639 shares advanced on National Stock Exchange.

All the 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty PSU Bank Index’s 3 percent fall.

Sensex, Nifty Resume Declines After One-Day Rally

Fab Four Stocks Of The Day

Dr. Lal Pathlabs

  • Stock rose as much as 7.8 percent to Rs 1,423.
  • UBS hiked price target to 1,660.
  • Transformers & Rectifiers
  • Stock rose as much as 21.3 percent to Rs 8.37.
  • Received orders worth Rs 126 crore from Power Grid Corporation.
  • Order book as on date stands at Rs 1,001 crore.

Indoco Remedies

  • Stock rose as much as 5 percent to Rs 146.10.
  • About 12.8 lakh shares exchanged in a large trade.

Wockhardt

  • Shares halt nine-day losing streak.
  • Trading volume was three times its 20 average.

Market Check: Sensex, Nifty Set To Resume Declines After One-Day Rally

Indian equity indices are set to resume declines after rallying in yesterday’s trade.

The S&P BSE Sensex fell 0.8 percent to 37,845 as of 3 p.m. and the NSE Nifty 50 fell 08 percent to 11,222. The broader markets represented by the NSE Nifty 500 Index fell 0.79 percent.

Stocks Moving On Heavy Volumes

Cochin Shipyard

  • Stock rose as much as 1.6 percent to Rs 330.15.
  • Trading volume was almost 11 times its 20-day average.

Gulf Oil Lubricants

  • Stock fell as much as 0.9 percent to Rs 849.
  • Trading volume was more than 13 times its 20-day average.

Torrent Pharma

  • Stock fell as much as 6.7 percent to Rs 1,705.
  • Trading volume was almost 11 times its 20-day average.

Large Trade Alert: SBI Life

About 42 lakh shares of SBI Life Insurance changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

IndusInd Bank Q2 Profit Meets Estimates; Shares Fall

Shares of IndusInd Bank fell as much as 3.9 percent to Rs 1,321 after the company announced its September quarter results.

Key Earnings Highlights (Q2, YoY)

  • Net profit at Rs 1,383 crore (Bloomberg estimate at Rs 1,417 crore).
  • Net interest income at Rs 2910 crore (Bloomberg estimate at Rs 3,003 crore).
  • Provision up 71.3 percent to Rs 737.71 crore. (QoQ).
  • Gross NPA at 2.19 percent versus 2.15 percent (QoQ).
  • Net NPA at 1.12 percent versus 1.23 percent (QoQ).

Also read: Q2 Results: IndusInd Bank’s Profit Misses Estimate On Higher Provisions

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