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MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddy's up 6% post Q4 nos

Markets pared their morning gains to end flat on Tuesday amid weakness in their Asian counterparts

SI Reporter  |  New Delhi 

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 ...

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MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

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

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

Nifty sectoral performers

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

BSE Sensex: Dr Reddy's top gainer of the day, Asian Paints top loser

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

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.

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

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:

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

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  

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

SBI Q4 loss widens to Rs 77.18 bn as higher NPAs worsen asset quality State Bank of India (SBI) reported whopping Rs 77.18 billion loss in its fourth quarter, against Rs 28.14 billion profit in the same quarter an year ago, as asset quality worsened significantly and the lender provided huge money as provision against its stressed loans READ MORE Rajnish Kumar. (Photo: Reuters)

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

Sugar stocks rise up to 20% Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) RAJSHREE SUGARS 33.10 27.65 5.45 19.71 SIR SHADI LAL 37.95 34.45 3.50 10.16 BALRAMPUR CHINI 71.85 66.00 5.85 8.86 DWARIKESH SUGAR 25.55 23.50 2.05 8.72 DHAMPUR SUGAR 100.90 93.15 7.75 8.32

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

Q4 results: Amara Raja trails Exide for third straight quarter   The Amara Raja stock corrected over 8 per cent intraday on its weak March quarter performance, and downward revision of margin estimates by brokerages for FY19. While the stock recovered from its intraday lows, a weak industrial segment as well as any upward movement of lead prices will be overhangs.   A major headwind is margin pressure because of the lead prices, which have hit their highest levels in at least five years in the March quarter. READ MORE

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

NEWS ALERT SBI reports loss of Rs 77.18 billion vs PAT of Rs 28.14 billion Earnings Impact

MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddys up 6% post Q4 nos

Political overhang on fuel pricing amid elections to keep OMC stks in check   A rise in crude oil prices, especially in an election year, has seen oil marketing companies – Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) – underperform the markets thus far in calendar year 2018 (CY18).   Analysts attribute this underperformance to the fear government intervention to keep prices of auto fuels – petrol and diesel – under check amid rising crude oil price (up 16 per cent YTD and around 45 per cent y-o-y) since it is a politically sensitive issue. READ MORE Daily fuel revision

First Published: Tue, May 22 2018. 15:30 IST
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MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddy's up 6% post Q4 nos

Markets pared their morning gains to end flat on Tuesday amid weakness in their Asian counterparts

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 ...

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