Sensex ends 157 pts; Nifty below 28 pts; Adani Ports ahead of result
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Asian markets finished mixed as of the most recent closing prices. The Hang Seng led the Shanghai Composite lower, both fell 1.28% and 0.50% respectively. It was Nikkei 225 that gained by 0.56%.
Friday trading session was not much of a excitement as Domestic equity indices ended in red on global cues. The sensex shrugged off its previous gain, slumping by 156.76 points or 0.56% to Rs 28051.86, while Nifty dipped 27.80 points or 0.32% to 8638.50.
Corporate Announcement
Sun Pharma Advanced Research Company (SPARC) is below 14.60 points or 4.30% to Rs 359.55 on reporting loss in Q1FY17. The company's net loss widened to Rs 36.4 crore in June quarter ended 2016, compared to net loss of Rs 1.6 crore in the corresponding period of the previous year.
RBI imposed Rs 27000 crore penalty on 13 banks of India for violating foreign exchange management act (FEMA). Know how these banks were trading on exchange. Bank of Baroda at Rs 152.40 (1.30%), Punjab Nationa Bank at Rs 123.80 (4.03%), HDFC Bank at Rs 1244.10 (0.30%), Syndicate Bank at Rs 76.30 (0.46%), Canara Bank at Rs 251.15 (2.75%) and Allahabad Bank at Rs 76.90 (1.79%). While the penalty effect was not reflected in other banks that were charged such as IndusInd Bank at Rs 1175 up by 0.61% and Uco Bank at Rs 43.80 rising by 1.51%.
Nifty hovers around 8650, buying interest seen in Midcap.
European markets are mixed. Shares in London are lower with the FTSE 100 off by 0.60%. The DAX and CAC 40 surging by 0.40% and 0.21% respectively.
Axis bank surged 3.20 points or 0.59% to Rs. 546.50 after announcing its tie-up with Life Insurance Corporation (LIC).
Commodity Round Up
ICICI Bank was trading below 2.66% to Rs. 264.85 ahead of June quarter announcement today. The share price of the company opened at Rs. 271 slightly lower from its previous closing of Rs. 272.10.
Adlabs Entertainment slumped by 4.10 points or 4.48% to Rs. 87.35 on reports of disappointing Q1FY17. The company reported a standalone net loss of 19.23 crore for the June quarter ended of the current fiscal.
Sensex and Nifty followed the sentiments of mixed global cues, The 30-stock index opened below 40.26 points or 0.14% to 28,168.36, however positive with 17 advances and 13 declines. While 50-stock index was around 8660.40 down by 6 points or 0.07%, positive with 30 advances and 21 declines.
SGX Nifty down amid mixed global cues
Indian rupee was trading above 0.022 paise or 0.03% to 67.040 against US dollar. This would third consecutive trading session where rupee depreciates, however this level is positive compared to 67.412 which was reported on July 25 trading session.
Asian markets were trading lower on Friday early tradings as all indices opened negative. The Hang Seng were top loser, slumping by 131.65 points or 0.59% to 22,042.69, while Nikkei 225 was below 65.45 points or 0.40% to 16,411.39. The Shanghai Composite was off 0.25% to 2,986.95.