Sensex, Nifty Clock Longest Weekly Losing Streak In Six Months
Closing Bell: Sensex, Nifty Clock Longest Weekly Losing Streak In Six Months
Indian equity benchmarks extended declines for the third consecutive week, their longest weekly losing since the end of January.
The S&P BSE Sensex ended 1 percent lower this week to close at 37,882.79 and the NSE Nifty 50 ended at 11,284.30, down 1.1 percent. The broader market represented by the NSE Nifty 500 Index ended 1.2 percent lower.
The benchmark indices halted their six-day losing streak. The 31-share index and the 50-stock index closed 0.14 percent and 0.29 percent higher respectively today. The 500-share index closed 0.37 percent higher.
The market breadth was tilted in favour of buyers. About 974 stocks advanced and 776 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Private Bank Index’s 1.24 percent gain. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 0.82 percent.
JSW Steel Q1 Profit Falls 56%
Shares of JSW Steel fluctuated between gains and losses to trade little changed at Rs 248.60 after the company announced its quarterly results.
Key Earnings Highlights (Q1, YoY)
- Revenue down 3 percent to Rs 19,812 crore.
- Net profit down 56 percent to Rs 1,028 crore.
- Ebitda down 27 percent to Rs 3,716 crore.
- Margin at 18.7 percent versus 24.9 percent.
- Board approved raising upto $1 billion via bonds in overseas market.
- Board approved raising upto Rs 10,000 crore via NCDs in domestic market.
Fab Four Stocks Of The Day
- Stock hits upper circuit of 20 percent at Rs 183.10.
- The company received EIR for two facilities in Goa by the U.S. FDA
Punjab National Bank
- Stock rose as much as 5.5 percent to Rs 69.65.
- The bank reported a surprise profit in June quarter.
- Stock rose as much as 6.3 percent to Rs 17,476.90.
- Trading volume was double its 20-day average.
- Stock hits upper circuit of 20 percent at Rs 4.80.
- This after speculation that it may have found a new investor, according to a Bloomberg report.
Market Check: Sensex, Nifty Set For Longest Weekly Losing Streak In Six Months
Indian equity benchmarks extended declines for the third consecutive week, the losing streak since the end of January.
The S&P BSE Sensex and the NSE Nifty 50 are currently trading little changed at 37,850 and 11,275.
Block Deal Alert: UPL
About 17.2 lakh shares of UPL changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Europe Market Check: Equities Gain
European equities opened little changed Friday as investors continued to analyse earnings.