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Sensex settles below 38,000 ahead of IIP data

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Key benchmark indices logged modest losses on last trading day of the week led by index pivotals of (SBI), (RIL) and ICICI The barometer index, the Sensex, fell 155.14 points or 0.41% to settle at 37,869.23. The index fell 41.20 points or 0.36% to settle at 11,429.50. The Sensex settled below the psychological 38,000 level after falling below that level in early trade.

On the macro front, the government will declare industrial production (IIP) data for June at 17:30 IST today, 10 August 2018.

Intraday volatility was high. Stocks edged lower in early trade, with the Sensex falling below the psychological 38,000 level tracking mostly negative Asian stocks. Key benchmark indices continued to trade lower in morning trade. Stocks staged a mild recovery in early afternoon trade after hitting intraday low in mid-morning trade. Indices turned range bound in afternoon trade. Volatility ruled the roost in mid-afternoon trade as stocks drifted lower soon after staging an intraday recovery. Stocks extended losses and hit intraday low in late trade.

The Sensex fell 155.14 points or 0.41% to settle at 37,869.23. The index hit high of 38,051.45 and low of 37,815.75 during the day.

The index fell 41.20 points or 0.36% to settle at 11,429.50. The index hit high of 11,478.75 and low of 11,419.65 during the day.

The Mid-Cap index fell 0.8%. The Small-Cap index fell 0.78%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 1051 shares rose and 1677 shares fell. A total of 132 shares were unchanged.

Among the sectoral indices on BSE, the index (down 2.01%), the index (down 1.58%), the index (down 1.41%), the index (down 1.18%), the index (down 1.13%), the index (down 1.04%), the index (down 0.99%), the index (down 0.83%), the S&P BSE Bankex (down 0.8%), the index (down 0.65%) and the index (down 0.64%) underperformed the Sensex.

The S&P index (down 0.25%), the index (down 0.15%), the index (up 0.09%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.17%), the index (up 0.26%), the index (up 0.34%), the S&P index (up 0.5%) and the index (up 0.79%), outperformed the Sensex.

(down 1.15%), ICICI (down 1.44%), (down 3%) edged lower from the Sensex pack.

(SBI) lost 3.79% after the bank reported net loss of Rs 4875.85 crore in Q1 June 2018 as compared with net profit of Rs 2005.53 crore in Q1 June 2017. Total income rose 4.1% to Rs 65492.67 crore in Q1 June 2018 over Q1 June 2017. The result was announced during market hours today, 10 August 2018.

The bank's gross non-performing assets (NPAs) stood at Rs 212839.92 crore as on 30 June 2018 as against Rs 223427.46 crore as on 31 March 2018 and Rs 188068.49 crore as on 30 June 2017.

The ratio of gross NPAs to gross advances stood at 10.69% as on 30 June 2018 as against 10.91% as on 31 March 2018 and 9.97% as on 30 June 2017. The ratio of net NPAs to net advances stood at 5.29% as on 30 June 2018 as against 5.73% as on 31 March 2018 and 5.97% as on 30 June 2017.

(SBI) said that (ECCB) accorded approval to explore and initiate the process of divestment upto 4% of stake of SBI in SBI Insurance Company to a non-promoter entity through small parcel share sale (SPSS). The announcement was made after market hours yesterday, 9 August 2018.

Metal and stocks fell. Vedanta (down 2.97%), (down 0.93%), (down 1.63%), (Sail) (down 2.74%), (down 3.18%), NMDC (down 0.75%), (down 0.59%) and (down 6.24%) edged lower. (up 1.25%) rose.

fell 2.22%. The company's PAT rose 102% to Rs 734 crore in Q1 June 2018 over Q1 June 2017 driven by higher EBITDA and The company's revenue (India operations) stood at Rs 10670 crore for Q1 June 2018. The result was announced during market hours today, 10 August 2018.

State-run lost 3.4%. The company net profit rose 23% to Rs 1259 crore in Q1 June 2018 over Q1 June 2017. Gross sales rose 50% to Rs 17262 crore in Q1 June 2018 over Q1 June 2017. The increase in net profit in Q1 on year on year basis was supported by better physical performance in every segment, & transmission volumes were up by 24% and 7% respectively, petrochemical sales was up by 27%, liquid hydrocarbon sales was up by 7% and LPG transmission was up by 1%. The result was announced during market hours today, 10 August 2018.

lost 2.82%. Jaguar during market hours today reported total of 36,144 vehicles in July 2018, down 21.6% year on year, primarily reflecting transitional issues in certain markets. For July Jaguar were 10,992 and were 25,152 vehicles, down 15.2% and 24% respectively on the same month last year.

Retails for July were down in (46.9%), reflecting continued market volatility in the first month of the duty change as well as trade tensions. Sales were also down in (26.5%) and the UK (18.3%), impacted by the industry-wide issue of delays in WLTP certification of 2019 model year vehicles.

Retail sales were also down in (9.5%), resulting from softer industry volumes (down more than 3%) combined with foregoing some higher discounted business and later timing for new model year launches this year compared to a year ago.

advanced 5.55%. On a consolidated basis, net profit of rose 25.36% to Rs 576.18 crore on 27.24% rise in net sales to Rs 2534.29 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours yesterday, 9 August 2018.

In the quarter ended June 2018, Royal Enfield posted its best ever performance. Royal Enfield sold 225,286 motorcycles in Q1 June 2018, registering a growth of 23% over 183,731 motorcycles sold in the same period last year.

(TCS) rose 0.98%. TCS during market hours today announced that Bahrain-based SNIC Insurance (formerly known as Saudi National Insurance Company) has selected TCS BaNCS for Insurance to support its in order to establish a unique leadership position in the market.

TCS BaNCS will power SNIC's strategy and enable competitive advantage by supporting and Medical Insurance, By leveraging this core platform, the company will be able to harmonize several existing product lines as well as roll out new products faster.

(India) lost 8.39%. The company said that its board of directors deferred the matter of consideration of the unaudited financial results for the quarter ended 30 June 2018. The audit committee did not recommend the financial results to the board for its approval, pending closure of certain matters. The announcement was made after market hours yesterday, 9 August 2018.

rose 2.91% to Rs 1,230.25 after consolidated net profit rose 13.32% to Rs 83.91 crore on 11.04% increase in net sales to Rs 904.66 crore in Q1 June 2018 over Q4 March 2018. Separately, said that its board has September 2018 as record date for ascertaining entitlement to sub-divided shares. The announcement was made after market hours yesterday, 9 August 2018. At its meeting in April 2018, the company's board had approved a stock split in the ratio of five shares for every one share held.

Overseas, European shares were trading lower as investors reacted to corporate earnings, fresh turmoil for and continued fears of a trade war between the US and Most Asian stock markets dropped as trade and broader geopolitical concerns continue to weigh on over investor sentiment.

Japan's economy expanded in the April-June period after a mild contraction in the previous three months. The world's third-largest economy expanded at an annualized pace of 1.9% in the second quarter of 2018 after a revised 0.9% contraction in the first quarter.

The US stock market ended mostly lower on Thursday, as investors weighed the continuing trade dispute between the US and against the backdrop of strong corporate earnings and a healthy economic performance.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 10 2018. 16:35 IST
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