Banking, metal, telecom sector stocks and index heavyweight HDFC led modest gains for key benchmark indices. The barometer index, the S&P BSE Sensex, rose 145.47 points or 0.52% to settle at 28,129.84. The Nifty 50 index rose 40.30 points or 0.47% to settle at 8,699.40. The Sensex settled above the psychologically important 28,000 level. It had closed below that level during previous trading session.

In overseas stock markets, European shares were mixed as investors were cautious ahead of a European Central Bank (ECB) meeting later in the day. Asian stocks witnessed a mixed trend. US stocks registered small gains yesterday, 19 October 2016, helped by better-than-expected earnings and rising oil prices. The Federal Reserve released the latest iteration of its Beige Book, which summarizes economic conditions in the US. In it, the Fed said economic activity increased at a modest pace in most regions.

Back home, the Sensex rose 145.47 points or 0.52% to settle at 28,129.84, its highest closing level since 5 October 2016. The index rose 228.13 points, or 0.82% at the day's high of 28,212.50. The index rose 47.20 points, or 0.17% at the day's low of 28,031.57.

The Nifty 50 index rose 40.30 points or 0.47% to settle at 8,699.40, its highest closing level since 10 October 2016. The index rose 67.90 points, or 0.78% at the day's high of 8,727. The index rose 19.20 points, or 0.22% at the day's low of 8,678.30.

The market breadth indicating the overall health of the market was positive. On BSE, 1,600 shares rose and 1,223 shares declined. A total of 225 shares were unchanged. The BSE Mid-Cap index rose 0.06%, underperforming the Sensex. The BSE Small-Cap index rose 0.50%, outperforming the Sensex.

The total turnover on BSE amounted to Rs 3383.22 crore, lower than turnover of Rs 3956.73 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE Bankex (up 1.42%), the S&P BSE Metal index (up 1.36%), the S&P BSE Finance index (up 1.05%), the S&P BSE Telecom index (up 1%), the S&P BSE Realty index (up 0.98%), the S&P BSE Consumer Durables index (up 0.65%), the S&P BSE Industrials index (up 0.65%), the S&P BSE Capital Goods index (up 0.61%) and the S&P BSE Basic Materials index (up 0.57%), outperformed the Sensex. The S&P BSE Utilities index (up 0.35%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.24%), the S&P BSE Power index (up 0.23%), the S&P BSE Energy index (up 0.21%), the S&P BSE Oil & Gas index (up 0.09%), the S&P BSE Teck index (up 0.03%), the S&P BSE Auto index (down 0.04%), the S&P BSE FMCG index (down 0.1%), the S&P BSE IT index (down 0.25%) and the S&P BSE Healthcare index (down 0.35%), underperformed the Sensex.

Metal and mining stocks edged higher. Vedanta (up 4.36%), Hindalco Industries (up 2.85%), NMDC (up 2.58%), Steel Authority of India (up 1.86%), Jindal Steel & Power (up 1.05%), Tata Steel (up 0.71%), Bhushan Steel (up 0.34%) and Hindustan Copper (up 0.17%), edged higher. JSW Steel (down 0.26%) and National Aluminium Company (down 0.48%), edged lower.

Meanwhile, copper prices edged lower in global commodities markets. High Grade Copper for December 2016 delivery was currently down 0.52% at $2.0925 per pound on the COMEX.

Hindustan Zinc rose 0.68% to Rs 249.90. The company's net profit fell 15.41% to Rs 1901.87 crore on 10.51% decline in total income to Rs 4647.62 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 6% to Rs 2077 crore in Q2 September 2016 over Q2 September 2015.

The company said its revenues decreased during the quarter on account of lower volumes, partly offset by higher zinc & silver prices and rupee depreciation. Net profit decreased during the quarter due to higher depreciation and lower investment income on account of smaller corpus despite higher mark to market gains. The result was announced after market hours yesterday, 19 October 2016.

Index heavyweight and housing finance major HDFC rose 1.26% at Rs 1,359.05. The stock hit a high of Rs 1,367 and a low of Rs 1,346.25 in intraday trade.

Public sector banks edged higher. Syndicate Bank (up 6.06%), Corporation Bank (up 5.60%), United Bank of India (up 4.27%), Dena Bank (up 3.90%), Union Bank of India (up 3.79%), Allahabad Bank (up 3.25%), Punjab National Bank (up 3.23%), Andhra Bank (up 2.52%), Canara Bank (up 2.50%), Indian Bank (up 2.20%), UCO Bank (up 2.12%), State Bank of India (up 2.02%), Punjab & Sind Bank (up 1.71%), Bank of Baroda (up 1.58%), Vijaya Bank (up 1.50%), IDBI Bank (up 1.24%), Bank of India (up 1.15%), Bank of Maharashtra (up 0.65%) and Central Bank of India (up 0.22%), edged higher.

Private sector banks were mixed. ICICI Bank (up 4.72%), City Union Bank (up 3.49%) and Federal Bank (up 3.39%), edged higher. IndusInd Bank (down 0.12%), HDFC Bank (down 0.25%) and Kotak Mahindra Bank (down 0.32%), edged lower.

Axis Bank rose 0.64% to Rs 538.80 after the bank said it proposes to raise funds by issuing senior unsecured redeemable non-convertible debentures of Rs 10 lakh each for cash at par aggregating to Rs 5000 crore. The board of directors of the bank will consider the proposal to issue and allot the securities through circular resolution. The announcement was made after market hours yesterday, 19 October 2016.

RBL Bank rose 4.72% to Rs 327.50 after net profit rose 34.3% to Rs 89.89 crore on 37.91% rise in total income to Rs 1071.04 crore in Q2 September 2016 over Q2 September 2015. The bank's gross non-performing assets (NPAs) stood at Rs 274.65 crore as on 30 September 2016 as against Rs 252.61 crore as on 30 June 2016 and Rs 161.61 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 1.1% as on 30 September 2016 as against 1.13% as on 30 June 2016 and 0.93% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 0.55% as on 30 September 2016 as against 0.65% as on 30 June 2016 and 0.48% as on 30 September 2015. The bank's provisions and contingencies (excluding tax provisions) rose 122.33% to Rs 49.58 crore in Q2 September 2016 over Q2 September 2015.

Net Interest Income (NII) rose 59.5% to Rs 302.94 crore in Q2 September 2016 over Q2 September 2015. Net interest margin (NIM) rose to 3.41% in Q2 September 2016, from 2.99% in Q2 September 2015. The result was announced after market hours yesterday, 19 October 2016.

Yes Bank rose 1.31% at Rs 1,308.80 after the bank reported 31.31% rise in net profit to Rs 801.54 crore on 24.7% rise in total income to Rs 4982.23 crore in Q2 September 2016 over Q2 September 2015. Yes Bank's gross non-performing assets (NPAs) stood at Rs 916.68 crore as on 30 September 2016 as against Rs 844.56 crore as on 30 June 2016 and Rs 491.35 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 0.83% as on 30 September 2016 as against 0.79% as on 30 June 2016 and 0.61% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 0.29% as on 30 September 2016 as against 0.29% as on 30 June 2016 and 0.2% as on 30 September 2015. The bank's provisions and contingencies (excluding tax provisions) rose 55.54% to Rs 161.67 crore in Q2 September 2016 over Q2 September 2015.

Net interest income (NII) rose 30.5% to Rs 1446.20 crore in Q2 September 2016 over Q2 September 2015, on account of strong growth in advances and current account-saving account (CASA) deposits. Net interest margin (NIM) rose to 3.4% in Q2 September 2016 up from 3.3% in Q2 September 2015. The result was announced during market hours today, 20 October 2016.

The Sensex has risen 263.88 points or 0.95% in this month so far (till 20 October 2016). The Sensex has risen 2,012.30 points or 7.70% in calendar year 2016 so far (till 20 October 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 5,635.23 points or 25.05%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 947.44 points or 3.26%. The Sensex is off 1,894.90 points or 6.31% from a record high of 30,024.74 hit on 4 March 2015.

Powered by Capital Market - Live News