Monday 22 October 2018

Sensex, Nifty Pare Gains Tech Mahindra Drops 3%

Posted by suhani varma on Monday, October 22, 2018 with No comments



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Benchmark indices sharply pared gains and were trading off today's high in morning trade. The market opened higher and hit a fresh intraday high in early trade.

BSE Sensex was at 34,344, up 29 points, while NSE Nifty was at 10,298, down five points at the time of writing this article.

BSE MidCap index was trading down 0.42% at 13,998, while BSE SmallCap index was trading lower by 0.96% at 13,943.

Indiabulls HF (+4.5%), Adani Ports (+2.3%), Bajaj Fin (+1.7%), Eicher (+1.6%), and HDFC Bank (+1.6%) were the top gainers, while Yes Bank (-3.1%), Tech Mahindra (-2.6%), IOC (-2.5%), BPCL (-2.4%), and Bharti Airtel (-2.3%) were the top losers on NSE.

Some buying activity was witnessed in banking, pharma, financial services, and FMCG sectors, while IT, realty, media, and metal showed weakness on the NSE.

India VIX was up 3.32% at 20.44.

Out of 2,047 stocks traded on the NSE, 732 declined, 826 advanced, and 489 remained unchanged today.

Two stocks registered a fresh 52-week high in trade today, while 44 stocks touched a new 52-week low on the NSE.

Shares of HDFC Bank are trading higher on the NSE after the bank announced its Q2FY19 result on October 20. The bank's NII for Q2FY19 improved 20.6% yoy to Rs1,1763.5cr against Rs9,752cr in Q2FY19.

Persistent Systems was down ~15% on its less-than-stellar performance in Q2FY19. The USD revenue disappointed with a decline of 4.3% qoq. Despite Q2 being a weak quarter in terms of IP-led revenues was factored in by the markets, what came as a negative surprise was Digital revenues, which declined 1.7% qoq.

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