News End-Session

Sensex, Nifty settle with modest gains
26-Apr-18   16:45 Hrs IST

Key benchmark indices logged modest gains in volatile session of trade. The barometer index, the S&P BSE Sensex, gained 212.33 points or 0.62% to settle at 34,713.60. The Nifty 50 index rose 47.25 points or 0.45% to settle at 10,617.80. IT stocks saw mixed trend. Wipro dropped after poor Q4 result. Yes Bank surged after strong Q4 result.

Trading was volatile as traders rolled over positions in the F&O segment from the near month April 2018 series to May 2018 series. The March 2018 F&O contracts expired today, 26 April 2018.

Domestic stocks drifted higher in early trade. Stocks with modest gains till mid-morning trade. Indices trimmed gains in early afternoon trade. Equities traded with small gains in afternoon trade. Indices extended gains and hit fresh intraday high in late trade.

The barometer index, the S&P BSE Sensex, gained 212.33 points or 0.62% to settle at 34,713.60. The Sensex hit high of 34,747.97 and low of 34,505.62 in intraday trade.

The Nifty 50 index rose 47.25 points or 0.45% to settle at 10,617.80. The Nifty hit high of 10,628.40 and low of 10,559.65 in intraday trade.

The S&P BSE Mid-Cap index fell 0.02%. The S&P BSE Small-Cap index rose 0.25%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,507 shares fell and 1,105 shares rose. A total of 158 shares were unchanged.

Hindustan Unilever (up 2.17%), ITC (up 1.61%), Kotak Mahindra Bank (up 1.41%) edged higher from the Sensex pack.

Bharti Airtel (down 2.61%), Dr Reddy's Laboratories (down 2.09%) and SBI (down 1.71%) edged lower from the Sensex pack.

Yes Bank jumped 8.26% after the bank reported 29.02% rise in net profit to Rs 1179.44 crore on 27.78% rise in total income to Rs 7163.95 crore in Q4 March 2018 over Q4 March 2017. The result was announced during market hours today, 26 April 2018.

Axis Bank fell 0.77% ahead of its Q4 result today, 26 April 2018.

IT stocks saw mixed trend. TCS (up 2.09%), Infosys (up 1.27%), HCL Technologies (up 0.9%) and MindTree (up 3.42%) rose. Oracle Financial Services Software (down 1.1%), Tech Mahindra (down 0.67%), Hexaware Technologies (down 0.01%) and Mphasis (down 1.1%) fell.

Wipro lost 2% after consolidated net profit fell 6.69% to Rs 1800.80 crore on 0.04% rise in total income to Rs 14304.60 crore in Q4 March 2018 over Q3 December 2017. The result was announced after market hours yesterday, 25 April 2018.

Wipro's board of directors considered and approved a scheme of amalgamation (Scheme) providing for the merger of its wholly owned subsidiaries, Wipro Technologies Austria GmbH, Wipro Information Technology Austria GmbH, Newlogic Technologies SARL and Appirio India Cloud Solutions (Transferor Companies) with Wipro (Transferee Company).

Emami gained 0.45% after the company scheduled a board meeting on 3 May 2018 to recommend issue of bonus shares to the equity shareholders. The announcement was made after market hours yesterday, 25 April 2018.

ICICI Lombard General Insurance Company lost 2.98%. The company's net profit rose 17.93% to Rs 211.87 crore on 14.91% rise in total income to Rs 2148.81 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 25 April 2018.

Cadila Healthcare rose 1.78%. Zydus Cadila has received the final approval from the USFDA to market Methylprednisolone Tablets USP in the strengths of 4 mg, 8 mg, 16 mg and 32 mg. It is used to treat conditions suchasarthritis, blood disorders, severe allergic reactions, certain cancers, eye conditions, skin/kidney/intestinal/lung diseases and immune system disorders. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. The announcement was made after market hours yesterday, 25 April 2018.

Overseas, European stocks notched small gains, as a fresh batch of earnings reports rolled in. Later, the European Central Bank (ECB) is scheduled to release its latest update on monetary policy, and investors will watch for any comments from the ECB's president, Mario Draghi, on eurozone economic growth. The ECB in March surprised markets by signaling it's on track to end its stimulus program before year's end.

Asian stocks were mostly higher on optimism over earnings after Samsung Electronics posted a record quarterly profit. Meanwhile, the Bank of Japan is reportedly likely to keep its policy unchanged when it ends a two-day rate review tomorrow, 27 April 2018.

US stocks fluctuated yesterday, 25 April 2018 before closing mixed as strong earnings from the likes of Boeing and Texas Instruments helped investors shrug off worries about higher interest rates.

The Dow Jones Industrial Average rose 0.3% to snap a five-day losing streak and the S&P 500 inched up 0.2% while the tech-heavy Nasdaq Composite slid 0.1%.

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