Sensex Today: Sensex ends 99 points higher, Nifty at 10,997 mark; HDFC rises 2% post result

In the pre open session Friday, Sensex trades 136 points lower at 36,879 level and Nifty50 is trading at 10,980 mark, with a loss of 138 points.  

Bharti Airtel Q1 Results 2019: The country's third largest telecom operator slipped into red, incurring net losses of Rs 2,866 crore for the first quarter of 2019-20, impacted by a continuing tariff war with Mukesh Ambani's Reliance Jio.

"The company had reported consolidated net profit of Rs 97.30 crore in the corresponding period of fiscal 2018-19 and Rs 107.2 crore in the previous quarter," Bharti Airtel said in a filing to the Bombay Stock Exchange.

Consolidated revenue from operations rose by 5 per cent to Rs 20,737.90 crore in Q1FY20 as against Rs 19,799.20 crore in Q1FY19.

SBI, ITC, HDFC, Power Grid Corporation of India, GATI, BSE Limited, Alphageo (India), Xpro India, Gujarat State Petronet, Andhra Bank, VLS Finance, Exide Industries, Birla Corporation, Ujjivan Financial Services, Equitas Holdings, Filatex India, Aditya Birla Capital, Vinyl Chemicals (India), D-Link (India), IRB Infrastructure Developers, Astral Poly Technik, Sterling Tools, Bata India, Capri Global Capital, Insecticides (India), National Fertilizers, Camlin Fine Sciences, Birla Corporation, Somany Ceramics, Godrej Agrovet, eClerx Services, Lumax Industries, Dhampur Sugar Mills, Parag Milk Foods, Elgi Equipments, Tata Communications, Dhampur Sugar Mills, Surya Roshni, INOX Leisure, V-Mart Retail, Kaya, McDowell Holdings, MM Forgings, BEML, Deepak Nitrite, Sical Logistics, Firstsource Solutions, Union Bank of India, Raj Oil Mills, Laurus Labs, TCPL Packaging, HUDCO, Summit Securities, Rico Auto Industries Limited are among the listed companies due to post their quarterly results on August 2.

Asian markets declined after Trump’s new tariff threat. Nikkei and Hong Kong Index declined 2% each. Hong Kong Index fell over 2% on news that the China may impose Martial Law in Hong Kong. On the sigapore Exchange, SGX Nifty was trading down 69 pts. On the Wall Street, US Futures is down 65 pts or 0.24%. US stocks fell after Trump put concerns about the U.S.-China trade war back in the spotlight, tweeting that he would impose an additional 10% tariff on $300bn in Chinese imports.   

In the opening session Friday, Sensex opened over 100 points below at 36,920.11 level and Nifty50 at 10,930.30 mark, with a loss of 50 points.

 

The rupee opened 26 paise lower compared to its previous close amid continued foreign fund outflows. The Indian currency opened at 69.26, then fell to 69.32 compared to the previous close of 69.06 against the US dollar.

Traders said strengthening of the greenback vis-a-vis other currencies overseas, a weak opening in domestic equities also weighed on the local unit. The dollar index inched up 0.05 per cent to 98.41.

Coffee Day Enterprises share price was locked in lower circuit for the fourth straight day since the death of the company's MD and Chairman VG Siddhartha. His body was recovered from Netravathi river on Wednesday morning. He was missing since Monday evening. Cafe Coffee Day share plunged lost another 10% to hit all-time low of Rs 99.90 on BSE, against yesterday's closing value of Rs 110.95. There are only sellers in the stock with pending sell orders worth 22,42,449 shares on BSE and 77,22,894 shares on NSE and no buyers standing. Volume-wise, 77,840 shares (including BSE and NSE) trade on the bourses. The share has lost 92.65 points or 48.08% since Monday's closing.

Mindtree Ltd has announced in a regulatory sttement about the appointment of Debashis Chatterjee as CEO and Managing Director. The filing added that the company has appointed SN Subrahmayan as Non-executive Vice-chairman effective from August 2.  

Allahabad Bank has informed the exchange on RBI imposing penalty of Rs 2 crore on Allahabad Bank for non compliance of directions/ circulars issued by RBI on "Code of Conduct for Opening and Operating Current Accounts", "Discounting/Rediscounting  of  Bills  by Banks",  "Reserve  Bank  of India (Frauds classification and reporting by commercial Banks and select Fis)  directions 2016" in the matter pertaining to Rotomac Group Companies. The regulatory filing added that " The Bank has taken necessary measures for ensuring compliance of said RBI directions. Considering the size of the  Bank, the amount of penalty will not have material impact."

Sensex Today: Domestic equity market indices Sensex and Nifty pared early losses on Friday, to trade on a bullish note by the afternoon session, backed by buying interest generated from Auto and PSU Bank stocks. Earlier the market was bearish amidst weak global stocks.  

SBI on Friday posted a standalone net profit of Rs 2,312.02 crore for the first quarter of current fiscal, mainly driven by higher income and reduction in bad loans.The bank had reported a loss of Rs 4,875.85 crore in the April-June quarter of 2018-19. SBI's standalone total income increased to Rs 70,653.23 crore in the first quarter of 2019-20 as against Rs 65,492.67 crore in the same period a year ago, as per the financial results posted by the bank on stock exchanges. Its gross non-performing assets (NPA) compared to assets declined to 7.53 per cent at June-end, over 10.69 per cent at June-end last year. Similarly, there was decline in net NPAs to 3.07 per cent in June 2019, compared to 5.29 per cent a year ago. Shares of the public sector bank was trading at Rs 319.45 apiece on the BSE, up 0.71 per cent at around 1400 hours. (PTI)

Sensex Today: Domestic equity market indices Sensex and Nifty pared early losses on Friday and closed on a bullish note by the afternoon session, backed by buying interest generated from Auto and PSU Bank stocks. S&P Sensex ended the day's trade at 37,118, with a rise of 99 points and Nifty 50 has closed 55 points up at 10,997 mark.