MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

The S&P BSE Sensex gained 332 points or 1 per cent to settle at 35,144 while NSE's Nifty50 index gained 100 points or 1 per cent to close at 10,583.

SI Reporter  |  New Delhi 

Representative image
Representative image

The domestic benchmark indices ended with sharp gains on Tuesday, amid recovery in Asian markets, dip in oil prices and buying in energy and banking stocks.

The S&P BSE Sensex gained 332 points or 1 per cent to settle at 35,144 while NSE's Nifty50 index gained 100 points or 1 per cent to close at 10,583. 

Among sectoral indices, Nifty Pharma index ended 1 per cent lower, weighed by Sun Pharma and Aurobindo Pharma. Realty stocks, too, lost ground in the trade with the Nifty Realty index ending at 221.40, down 0.61 per cent. 

TODAY'S GAINERS

Among individual stocks, Radico Khaitan rallied 8 per cent to Rs 441, extending their last four weeks' gain on the BSE, after the company reported a strong 73 per cent year-on-year (Y-o-Y) jump in net profit at Rs 495 million in September quarter (Q2FY19). The liquor firm had reported a profit of Rs 286 million in the year-ago quarter.
 

Operational revenue grew 28 per cent to Rs 19.06 billion on Y-o-Y basis. EBITDA margin expanded 300 basis points (bps) Y-o-Y to 17.71 per cent in Q2FY19 from 14.65 per cent in Q2FY18. READ MORE HERE

On the contrary, shares of Allahabad Bank tumbled 10 per cent to Rs 37.45 on BSE after reporting a net loss of Rs 18.23 billion in September quarter (Q2FY19), due to higher provisioning for bad loans and lower interest income. The state-owned bank posted net profit of Rs 702 million in the year-ago quarter. It reported a net loss of Rs 19.44 billion in June quarter.

GLOBAL MARKETS
 
Asian shares pared losses as hopes for a de-escalation in the Sino-U.S. tariff war rose on a report that China’s top trade negotiator was preparing to visit the United States ahead of a meeting between the two countries’ leaders.

Spreadbetters pointed to a positive start for Europe and US with E-minis for the S&P 500 and the Dow up 0.5 per cent each. FTSE futures were up 0.2 per cent.

Chinese shares reversed earlier losses with the blue-chip index climbing about 1 per cent.
(with Reuters input)
MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

Top sectoral gainers & losers on NSE

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

S&P BSE Sensex: Top gainers & losers

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

Market at close   The S&P BSE Sensex gained 332 points or 1 per cent to settle at 35,144 while NSE's Nifty50 index gained 100 points or 1 per cent to close at 10,583.

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

Allahabad Bank tumbles 15% on weak Q2 results   Shares of Allahabad Bank tanked 15 per cent to Rs 35.40 on BSE after reporting a net loss of Rs 18.23 billion in September quarter (Q2FY19), due to higher provisioning for bad loans and lower interest income. The state-owned bank posted net profit of Rs 702 million in the year-ago quarter. It reported a net loss of Rs 19.44 billion in June quarter. Read more

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

NEWS ALERT According to TV reports, Fortis Health board has approved issuing 235 mn equity shares at Rs 170 per share to Northern TK

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

Market check Index Current Pt. Change % Change   S&P BSE SENSEX 35,054.32 +241.33 +0.69   S&P BSE SENSEX 50 11,035.37 +82.27 +0.75   S&P BSE SENSEX Next 50 31,968.61 +97.41 +0.31   S&P BSE 100 10,831.90 +73.63 +0.68   S&P BSE Bharat 22 Index 3,446.45 +21.18 +0.62

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

EARNINGS IMPACT

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

NEWS ALERT Apollo Tyres Q2: Cons net profit up 4.1% at Rs 1.46 bn Vs Rs 1.40 bn (YoY)

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

Eicher Motors trading over 5% higher

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

Results impact: Allahabad Bank tanks over 12% as it reports a net loss of Rs 18.22 billion for September quarter Vs profit of Rs 702 million (YoY). 

MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

Anand Rathi Financial Services on KEC International   Modest order inflows are expected due to lower domestic T&D capex. International T&D orders are expected to continue at a robust pace. With the sharp focus on execution, sales are expected to register a 17 per cent CAGR over the next two years. After the recent price drop, the stock looks attractive at present valuations. Cash-flows are expected to improve from current levels. Risks: Keener competition; slowdown in ordering.
First Published: Tue, November 13 2018. 08:15 IST