We had mentioned in Tuesday’s closing report that Nifty, Sensex were continuing to be under pressure. The major indices of the Indian stock markets suffered a correction on Wednesday and closed with losses over Tuesday’s close. On the NSE, there were 440 advances, 1369 declines and 100 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
Benchmark indices finished near day's low on Wednesday amid weak global cues. The Sensex has closed below 38,000, while Nifty was breaking below 11,350 during intraday. At close, the Sensex was down 487.50 points at 37789.13, while Nifty was down 138.45 points at 11,359.50. About 634 shares have advanced, 1857 shares declined, and 145 shares are unchanged.
All sectoral indices ended in red led by energy, pharma, auto, bank, infra, FMCG (fast moving consumer goods), metal and IT (information technology). Midcap and Smallcap index shed 1% each.
Nifty Media had crashed about 5% intraday. The fall was led by Zee Entertainment (-10.05%), Sun TV (-4.48%) and Network 18 (-3.61%). Nifty Media closed at 2,133.65, down 4.53% on the NSE.
Dhanlaxmi Bank has reported net profit of Rs27.6 crore in in the fourth quarter ended March 2019 (Q4FY19). It had reported a loss of Rs17.2 crore in a year ago period. Dhanlaxmi Bank shares closed at Rs19.80, up 0.51% on the NSE.
Alembic Pharma Q4 results have been declared. Consolidated net profit was up 32.2% at Rs124 crore against Rs94 crore, revenue up 8.6% at Rs927 crore against Rs853.3 crore, year-on-year. Alembic Pharmaceuticals shares closed at Rs551.45, down 0.84% on the NSE.
Chennai Petroleum Corporation Q4 results have been declared. Consolidated net losses were at Rs25 crore versus loss of Rs363 crore, revenues were up at Rs9,957 crore versus Rs9,866 crore, quarter-on-quarter. Chennai Petroleum Corporation shares closed at Rs242.60, down 1.24% on the NSE.
MAS Financial Q4 results were declared. Net profit was up 27.7% at Rs41.6 crore against Rs32.6 crore, revenue was up 30.9% at Rs165 crore against Rs126 crore, year-on-year. MAS Financial Services shares closed at Rs559.55, down 1.55% on the NSE.
Srikalahasthi Pipes Q4 results were declared. Net profit was up 4.4% at Rs35.8 crore against Rs34.3 crore, revenue was up 12.7% at Rs408.7 crore versus Rs362.5 crore, year-on-year. Srikalahasthi Pipes shares closed at Rs193.05, down 7.55% on the NSE.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: