Nifty sectoral gainers and losers BSE Sensex: Top gainers and losers of the day Market at close The S&P BSE Sensex ended at 34,848, down 301 points while the broader Nifty50 index settled at 10,605, down 78 points. Strides Shasun tanks 25% on weak Q4 results Shares of Strides Shasun have tanked 25% to Rs 378 per share, also their 52-week low on the BSE after the company reported a consolidated net loss of Rs 44 million in March 2018 quarter (Q4FY18). The pharmaceutical company reported its first quarterly loss since September 2014 quarter. It had posted a net profit of Rs 916 million in Q4FY17. Revenue from operations during the quarter under review declined 1.9% to Rs 6.64 billion from Rs 6.77 billion in the corresponding quarter of previous fiscal. READ MORE EARNINGS IMPACT Bajaj Auto share price gained more than a percent after reporting better-than-expected earnings for the March quarter. Profit for the quarter grew by 34.7% year-on-year to Rs 10.80 billion and revenue rose by 38.3% to Rs 67.73 billion.Operating profit jumped 45.2% to Rs 13.15 billion for the quarter and margin expanded 90 basis points to 19.4% compared to year-ago. BUZZING STOCK Biocon gained 1% after the company sold close to 2% stake in its research arm Syngene International for an estimated Rs 230 crore. "Biocon, the promoter of Syngene International, on May 16, 2018 has sold 37,65,574 equity shares amounting to 1.88% of the equity share capital of Syngene through open market sale," Biocon said in a regulatory filing.
The S&P BSE Sensex ended at 34,848, down 301 points while the broader Nifty50 index settled at 10,605, down 78 points
In the global markets, Asian stocks were steady on Friday amid caution over developments in US-China trade negotiations, while the dollar perched near a five-month peak after the benchmark US Treasury yield hit its highest in seven years.
(with Reuters inputs)