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MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

The Nifty Financial Services index settled 1.1 per cent higher led by a rise in the shares of Max Financial Services, Power Finance Corporation and Mahindra & Mahindra Financial Services

SI Reporter  |  New Delhi 

Firms

The benchmark indices ended marginally higher on Thursday led by a rise in the banking and financial stocks. 

The S&P BSE ended at 35,261, up 119 points, while the broader Nifty50 index settled at 10,617, up 40 points.

Among the sectoral indices, the Financial Services index settled 1.1 per cent higher led by a rise in the share prices of Max Financial Services, Power Finance Corporation and Mahindra & Mahindra Financial Services. The Bank index, too, ended 0.9 per cent higher led by IDFC Bank and Axis Bank.

YES Bank fell 7.3 per cent to Rs 206.30 on the BSE after Ashok Chawla, the bank's non-executive chairman, stepped down with immediate effect, following his name appearing in Aircel-Maxis controversy. Independent Director Vasant Gujarathi has also quit, citing personal commitments. The bank's board has appointed Uttam Prakash Agarwal as additional director (Independent) for five years, subject to shareholder’s approval.

Vodafone Idea ended 10.6 per cent lower at Rs 37.05 on the BSE after the company reported a net loss of Rs 49.7 billion on a revenue of Rs 120.2 billion. For the July-September quarter, earnings before interest, tax, depreciation and amortisation (Ebitda) declined 28.7 per cent to Rs 9.8 billion.

The is traded on a firm note on Thursday having risen to a near two-month high of 71.86 against the dollar in intra-day trade, up from its previous close of 72.31 against the greenback.

GLOBAL MARKETS

Asian stocks rose on Thursday, cheered by a bounce in Chinese equities on signs China and the United States may be taking steps to de-escalate their bitter trade dispute, while oil prices resumed their retreat on fears of oversupply.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.7 per cent. The index had fallen the previous day as the sharp slide in oil prices heightened anxiety about the outlook for broad demand and global growth. Shanghai Composite Index gained 0.9 per cent, while Hong Kong's Hang Seng rose 0.8 per cent.

Elsewhere, Australian stocks inched up 0.05 per cent and Japan's Nikkei shed 0.2 per cent.
 
(with Reuters input)

MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

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MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

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MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

Market at close   The S&P BSE Sensex ended at 35,261, up 119 points while the broader Nifty50 index settled at 10,617, up 40 points.

MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

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MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

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MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

S&P BSE Sensex top gainers and losers

MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

Page Industries extends fall after disappointing Q2 results   Shares of Page Industries have slipped 7% to Rs 25,867 per share on Thursday, extending their 4% decline on Wednesday on the BSE in an otherwise firm market after the company reported a disappointing set of numbers for the quarter ended September (Q2FY19). With past two day’s decline, Page Industries fallen 29% from its all-time high level of Rs 36,336 touched on August 28, 2018, against a 10% decline in the S&P BSE Sensex. Read more  

MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

Devangshu Datta Turnaround in bad loans not in sight yet for PSU banks   CARE Ratings has tabulated results of 30 banks, which have declared Q2, 2018-19 results. The focus was on trends in gross NPAs (non-performing assets) as a per cent of advances. There seems to be an improvement over the last two quarters. Tighter NPA recognition norms led to a surge in bad loans over the last two years. But overall NPAs have reduced and provisioning has also reduced in the last two quarters. Read more

MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

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MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

Top gainers in BSE 500 COMPANY PRICE() CHG() CHG(%) MAX FINANCIAL 427.40 34.30 8.73 ADANI TRANSMISSI 206.80 16.25 8.53 UJJIVAN FIN.SER. 235.95 18.45 8.48 JET AIRWAYS 276.00 18.25 7.08 JUST DIAL 508.95 29.35 6.12 » More on Top Gainers

MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

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First Published: Thu, November 15 2018. 08:12 IST
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MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

The Nifty Financial Services index settled 1.1 per cent higher led by a rise in the shares of Max Financial Services, Power Finance Corporation and Mahindra & Mahindra Financial Services

The benchmark indices ended marginally higher on Thursday led by a rise in the banking and financial stocks. 

The S&P BSE ended at 35,261, up 119 points, while the broader Nifty50 index settled at 10,617, up 40 points.

Among the sectoral indices, the Financial Services index settled 1.1 per cent higher led by a rise in the share prices of Max Financial Services, Power Finance Corporation and Mahindra & Mahindra Financial Services. The Bank index, too, ended 0.9 per cent higher led by IDFC Bank and Axis Bank.

YES Bank fell 7.3 per cent to Rs 206.30 on the BSE after Ashok Chawla, the bank's non-executive chairman, stepped down with immediate effect, following his name appearing in Aircel-Maxis controversy. Independent Director Vasant Gujarathi has also quit, citing personal commitments. The bank's board has appointed Uttam Prakash Agarwal as additional director (Independent) for five years, subject to shareholder’s approval.

Vodafone Idea ended 10.6 per cent lower at Rs 37.05 on the BSE after the company reported a net loss of Rs 49.7 billion on a revenue of Rs 120.2 billion. For the July-September quarter, earnings before interest, tax, depreciation and amortisation (Ebitda) declined 28.7 per cent to Rs 9.8 billion.

The is traded on a firm note on Thursday having risen to a near two-month high of 71.86 against the dollar in intra-day trade, up from its previous close of 72.31 against the greenback.

GLOBAL MARKETS

Asian stocks rose on Thursday, cheered by a bounce in Chinese equities on signs China and the United States may be taking steps to de-escalate their bitter trade dispute, while oil prices resumed their retreat on fears of oversupply.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.7 per cent. The index had fallen the previous day as the sharp slide in oil prices heightened anxiety about the outlook for broad demand and global growth. Shanghai Composite Index gained 0.9 per cent, while Hong Kong's Hang Seng rose 0.8 per cent.

Elsewhere, Australian stocks inched up 0.05 per cent and Japan's Nikkei shed 0.2 per cent.
 
(with Reuters input)

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