Business Standard

Markets end lower dragged by banks

SBI top Sensex loser

SI Reporter  |  Mumbai 

ended nearly 1% lower on Friday weighed down by selling pressure in banking major SBI on concerns of rising non-performing assets and profit taking in index heavyweights.

The provisionally ended down 168 points or  0.9%  at 18,678 and the 50-share ended down 52 points or  0.9% at 5,686.

____________________________________

(Updated at 14:51Hrs)

Markets slipped sharply in late trades on Friday post the SBI results with benchmark indices down 0.8% each. At 14:30 hrs, the Sensex was down 155 points at 18,691 and the Nifty lost 49 points at 5,690.

In the broader markets, the midcap index fell in line with the Sensex while the smallcap index was down 0.5%.

All the sectoral indices were in the red in the noon deals with PSU, Oil & Gas, Consumer Durables, Banks and Capital Goods indices down 1% each. FMCG, Health Care and Auto indices down 0.4% each managed to hold on to some of the early gains.

Asian markets languished in trades on worries over fiscal problems in the US. Nikkei shed 1% to 8,758. Hang Seng, Kospi and Shanghai Composite dropped around half a% each.

Maruti Suzuki, Bajaj Auto, Cipla, Jindal Steel and Tata Power up 0.1-0.4% were the only gainers among the Sensex-30.

ONGC and SBI down 3.4% each were the top losers.

ONGC slipped after reporting a sharpest year-on-year fall in net profit since December 2008 quarter. The net profit of the state-owned oil exploration company has declined by 32% in September quarter to Rs 5,897 crore against Rs 8,642 crore in previous year quarter due to higher subsidy outgo.

SBI lost ground after announcing the quarterly numbers. India's largest PSU bank has reported at net profit of Rs 5,628 crore for the quarter ended September 30, 2012.

The other notable losers included BHEL, Sterlite, Tata Steel, ICICI Bank, Tata Motors, NTPC, Hero MotoCorp, Infosys and Hindustan Unilever down 1-2%.

Stocks of Jet Airways, Dabur India and Reliance Industries cracked as a knee-jerk reaction post Arvind Kejriwal, an India Against Corruption Activist continued his string of revelations and pointed out that people associated with these companies hold accounts in the Geneva branch of HSBC.

Jet Airways (down 5.6%), RIL (down 1%), Dabur (down 4.5%), RCom (down 2.6%) and Reliance Power (down 3.04%) cracked in the intra-day deals on the Bombay Stock Exchange before staging a partial recovery.

The market breadth was negative. 1672 stocks declined while 1078 stocks advanced on the BSE.

RECOMMENDED FOR YOU

Markets end lower dragged by banks

SBI top Sensex loser

Markets ended nearly 1% lower on Friday weighed down by selling pressure in banking major SBI on concerns of rising non-performing assets and profit taking in index heavyweights.

ended nearly 1% lower on Friday weighed down by selling pressure in banking major SBI on concerns of rising non-performing assets and profit taking in index heavyweights.

The provisionally ended down 168 points or  0.9%  at 18,678 and the 50-share ended down 52 points or  0.9% at 5,686.

____________________________________

(Updated at 14:51Hrs)

Markets slipped sharply in late trades on Friday post the SBI results with benchmark indices down 0.8% each. At 14:30 hrs, the Sensex was down 155 points at 18,691 and the Nifty lost 49 points at 5,690.

In the broader markets, the midcap index fell in line with the Sensex while the smallcap index was down 0.5%.

All the sectoral indices were in the red in the noon deals with PSU, Oil & Gas, Consumer Durables, Banks and Capital Goods indices down 1% each. FMCG, Health Care and Auto indices down 0.4% each managed to hold on to some of the early gains.

Asian markets languished in trades on worries over fiscal problems in the US. Nikkei shed 1% to 8,758. Hang Seng, Kospi and Shanghai Composite dropped around half a% each.

Maruti Suzuki, Bajaj Auto, Cipla, Jindal Steel and Tata Power up 0.1-0.4% were the only gainers among the Sensex-30.

ONGC and SBI down 3.4% each were the top losers.

ONGC slipped after reporting a sharpest year-on-year fall in net profit since December 2008 quarter. The net profit of the state-owned oil exploration company has declined by 32% in September quarter to Rs 5,897 crore against Rs 8,642 crore in previous year quarter due to higher subsidy outgo.

SBI lost ground after announcing the quarterly numbers. India's largest PSU bank has reported at net profit of Rs 5,628 crore for the quarter ended September 30, 2012.

The other notable losers included BHEL, Sterlite, Tata Steel, ICICI Bank, Tata Motors, NTPC, Hero MotoCorp, Infosys and Hindustan Unilever down 1-2%.

Stocks of Jet Airways, Dabur India and Reliance Industries cracked as a knee-jerk reaction post Arvind Kejriwal, an India Against Corruption Activist continued his string of revelations and pointed out that people associated with these companies hold accounts in the Geneva branch of HSBC.

Jet Airways (down 5.6%), RIL (down 1%), Dabur (down 4.5%), RCom (down 2.6%) and Reliance Power (down 3.04%) cracked in the intra-day deals on the Bombay Stock Exchange before staging a partial recovery.

The market breadth was negative. 1672 stocks declined while 1078 stocks advanced on the BSE.

image

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

Widgets Magazine

More News

STOCK WATCH

Company Price() Chg(%)
Indbull.RealEst. 67.55 6.46
Bata India 586.05 5.75
Suzlon Energy 14.99 5.27
Castex Tech 7.19 4.96
GMR Infra. 12.61 4.91
> More on BSE Gainers
Company Price() Chg(%)
Indbull.RealEst. 67.65 6.54
Suzlon Energy 14.95 5.28
Bombay Rayon 144.95 5.04
Bata India 584.20 5.02
GMR Infra. 12.60 5.00
> More on NSE Gainers
Company Price() Chg(%)
Titagarh Wagons 91.60 -7.33
Idea Cellular 118.30 -6.52
Jindal Steel 69.90 -6.49
HCL Technologies 750.45 -6.19
CEAT 1097.70 -5.88
> More on BSE Gainers
Company Price() Chg(%)
Jindal Steel 69.80 -6.56
CEAT 1098.60 -6.39
Idea Cellular 118.55 -6.28
HCL Technologies 750.30 -6.20
JMT Auto 53.25 -5.67
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard