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MARKET WRAP: Sensex ends 155 pts lower; SBI down 4% post Q1 results

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SI Reporter  |  New Delhi 

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MARKET COMMENT Jayant Manglik, President, Religare Broking The Indian benchmark indices ended Friday’s session with losses tracking weak global cues. The Nifty Index ended lower by 0.4% to close at 11,430 levels. The broader markets underperformed the benchmark with BSE Midcap and BSE Smallcap ending the day with losses of 0.9% each. On the sectoral front, Consumer Durables, Autos and IT were the outperformers ending in green, whereas Metals, Capital Goods and Banking were the top losers. Amongst the global markets, both Asian and European Indices traded on a weak note. With headline index trading at record highs, some consolidation cannot be ruled out. Key macro data (WPI & CPI) scheduled next week would be keenly watched by the investors. We expect stock specific volatility to continue with more corporate earnings scheduled in the next 1-2 weeks. Further, market participants would keep an eye on global developments especially the US-China trade war, progress of monsoon, currency and crude oil price movement PSU Banks slip over 3% as SBI falls post Q1 results Sectoral Trend Top Sensex gainers and losers Markets at close The S&P BSE Sensex ended the day at 37,869 down 155 while the Nifty50 index settled at 11,429 down 41 points Top 52-week losers COMPANY PRICE() 52 WK LOW CHG() CHG(%) CAN FIN HOMES 320.65 318.45 -5.60 -1.72 JET AIRWAYS 276.50 261.60 -25.20 -8.35 REDINGTON INDIA 102.00 101.80 -1.55 -1.50 S H KELKAR & CO. 195.00 193.05 -6.85 -3.39 » More on 52 Week Low

Benchmark indices ended lower on Friday, after touching record highs for four straight sessions, following global market trends. Metals, pharma and PSU banks were the top draggers during the day.

The S&P BSE ended the day at 37,869 down 155 while the Nifty50 index settled at 11,429 down 41 points

SBI Q1 Results

SBI slipped 4% after it reported a bigger-than-expected quarterly loss on Friday, as the country's biggest lender by assets made higher provisions for treasury losses. SBI's third consecutive quarterly net loss came in at Rs 48.76 billion ($707.28 million) for the three months to June 30, compared with a profit of Rs 20.06 billion a year ago, and a record loss of Rs 77.18 billion in the March quarter. Gross NPA stood at 10.69% vs 10.91% QoQ while provisions were at Rs 192.28 billion vs Rs 280.96 billion QoQ

Jet Airways slips

Shares of Jet Airways hit a three-year low of Rs 262, down 10% on the BSE on Friday in early morning trade after the company deferred announcing their June quarter numbers to an unspecified date. On the National Stock Exchange (NSE), the stock hit a low of Rs 258, and is trading at its lowest level since June 16, 2015 READ MORE

Global Markets

Asian stock fell on Friday while currency were whipsawed by a searing selloff in Russia’s after the United States slapped on new sanctions.

Washington said it would impose fresh sanctions because it had determined that Moscow had used a nerve agent against a former Russian agent and his daughter in Britain, which the Kremlin denies.

MSCI’s broadest index of Asia-Pacific shares outside was down 0.3 per cent. Japan’s Nikkei stock index fell 0.5 per cent despite data showing that the country’s economy expanded at a faster-than-expected annualized rate of 1.9 per cent in the second quarter in a sign of improving momentum.

(With Reuters inputs)


First Published: Fri, August 10 2018. 08:15 IST
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MARKET WRAP: Sensex ends 155 pts lower; SBI down 4% post Q1 results

Catch all live market action here

Benchmark indices ended lower on Friday, after touching record highs for four straight sessions, following global market trends. Metals, pharma and PSU banks were the top draggers during the day.

The S&P BSE ended the day at 37,869 down 155 while the Nifty50 index settled at 11,429 down 41 points

SBI Q1 Results

SBI slipped 4% after it reported a bigger-than-expected quarterly loss on Friday, as the country's biggest lender by assets made higher provisions for treasury losses. SBI's third consecutive quarterly net loss came in at Rs 48.76 billion ($707.28 million) for the three months to June 30, compared with a profit of Rs 20.06 billion a year ago, and a record loss of Rs 77.18 billion in the March quarter. Gross NPA stood at 10.69% vs 10.91% QoQ while provisions were at Rs 192.28 billion vs Rs 280.96 billion QoQ

Jet Airways slips

Shares of Jet Airways hit a three-year low of Rs 262, down 10% on the BSE on Friday in early morning trade after the company deferred announcing their June quarter numbers to an unspecified date. On the National Stock Exchange (NSE), the stock hit a low of Rs 258, and is trading at its lowest level since June 16, 2015 READ MORE

Global Markets

Asian stock fell on Friday while currency were whipsawed by a searing selloff in Russia’s after the United States slapped on new sanctions.

Washington said it would impose fresh sanctions because it had determined that Moscow had used a nerve agent against a former Russian agent and his daughter in Britain, which the Kremlin denies.

MSCI’s broadest index of Asia-Pacific shares outside was down 0.3 per cent. Japan’s Nikkei stock index fell 0.5 per cent despite data showing that the country’s economy expanded at a faster-than-expected annualized rate of 1.9 per cent in the second quarter in a sign of improving momentum.

(With Reuters inputs)


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