Nifty PSU bank index ends 3.25% higher. Top gainer: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) PUNJAB NATL.BANK 81.55 78.15 3.40 4.35 SYNDICATE BANK 46.35 44.55 1.80 4.04 ST BK OF INDIA 253.90 244.45 9.45 3.87 BANK OF BARODA 132.90 129.90 3.00 2.31 UNION BANK (I) 88.40 86.95 1.45 1.67 Nifty sectoral performers BSE Sensex: Dr Reddy's top gainer of the day, Asian Paints top loser Market at close The S&P BSE Sensex ended at 34,651, up 35 points while the broader Nifty50 index settled at 10,537, up 20 points. Dr Reddy's Q4 profit falls 19 % on US headwinds, revenue drops to Rs 14 bn Indian generic drugmaker Dr. Reddy's Laboratories Ltd posted a 19 percent drop in quarterly net profit on Tuesday, missing analysts' estimates, pulled down by headwinds in the US market. The company's net profit, for the quarter ended March 31, came in at 2.72 billion rupees ($39.98 million), compared with 3.38 billion rupees a year earlier, the company said. READ MORE Stock Quote: RCom gains as company files appeal before NCLAT against NCLT order Reliance Communications (RCom) has moved higher by upto 19% to Rs 15.95 in noon deal, bouncing back 24% from its early morning low on the BSE after the company filed appeal before the Hon’ble National Company Law Appellate Tribunal (NCLAT) against the Hon’ble National Company Law Tribunal (NCLT) order. The stock hit an intra-day low of Rs 12.90 on the BSE. READ MORE
Markets pared morning gains to end flat on Tuesday amid weakness in their Asian counterparts.
The S&P BSE Sensex ended at 34,651, up 35 points while the broader Nifty50 index settled at 10,537, up 20 points.
Among sectoral indices, the Nifty Metal index is nearly 1% up led by a rise in shares of JSW Steel, Hindustan Copper and Coal India.
Among individual stocks, State Bank of India (SBI) gained 3% even after it posted net loss of Rs 77.18 bn in January - March 2018 quarter, as against a net profit of Rs 28.15 billion in the previous corresponding period.
Dr Reddy's Labs gained over 6% even after it posted an about 3% fall in quarterly profit, hurt by headwinds in the US market.
Asian shares skidded on Tuesday as a strong dollar sapped demand for emerging market assets while surging oil prices stoked concerns about a flare-up in inflation and faster U.S. interest rate increases.
Oil prices rose on Tuesday, with Brent edging closer to $80 per barrel, on concerns that Venezuela's crude output could drop further following a disputed presidential election and potential U.S. sanctions on the OPEC-member.
(with Reuters inputs)