Top sectoral gainers and losers on BSE BSE Sensex: Top gainers & losers Market at close The S&P BSE Sensex climbed 187 points or 0.55 per cent to settle at 34,034 while NSE's Nifty50 index gained 78 points or 0.77 per cent to settle at 10,225. Bharti Airtel up 15% as investors to pump $1.25 billion in African unit Shares of Bharti Airtel have moved higher by 15% to Rs 329 per share on the BSE in intra-day trade on Wednesday after the telecom services company said that the global investors comprising Warburg Pincus, Temasek, Singtel, SoftBank Group International and others will invest $1.25 billion in company’s subsidiary Airtel Africa. READ MORE Trust, confidence severely impacted by IL&FS default, says Sebi chairman The default by Infrastructure Leasing & Financial Services (IL&FS) has "severely” impacted the trust and confidence of investors, said Ajay Tyagi, chairman, Securities and Exchange Board of India (Sebi). Speaking at the conference organised by rating agency Crisil, he said “Let me briefly touch upon the issue of ‘trust’ and how this “trust" and consequently investors’ confidence has been severely impacted due to developments in the recent months, particularly as a result of default by a large entity.” READ MORE Bajaj Auto, Hero MotoCorp, Tata Motors hit 52-week low Bajaj Auto, Hero MotoCorp, Tata Motors, Shree Cement and Grasim Industries were among 10 stocks from the S&P BSE 200 index that hit their respective 52-week lows on the BSE. Container Corporation, Indian Bank, Motilal Oswal Financial Services, Edelweiss Financial Services and Oracle Financial Services Software, too, hit 52-week lows today. READ MORE
The S&P BSE Sensex ended at 34,034, up 187 points, while the broader Nifty50 index settled at 10,225, up 78 points.
Among the sectoral indices, Nifty Financial Service index settled 1.4 per cent higher led by Bajaj Finance and IIFL.
Bajaj Auto fell 4.3 per cent to settle at Rs 2,475 on the BSE after the company’s ebitda (earnings before interest, tax, depreciation and amortization) margin declined by 280 basis points at 18% in September quarter (Q2FY19), owing to higher input costs, adverse product mix and increase in incentives. The company had ebitda margin at 20.8% in the same quarter last fiscal. Bajaj Auto reported a single digit 4% year-on-year (Y-o-Y) growth in its net profit at Rs 11.52 billion in Q2FY19 against Rs 11.12 billion in the corresponding quarter of last fiscal. Net sales grew 22% at Rs 80.71 billion on Y-o-Y basis.
Earlier in the day, the rupee hit a three-week high of 73.14 per dollar in intra-day trade, up from its previous close of 73.57 per dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.2 per cent following a decline of more than 2 per cent in the previous session.