We had mentioned in Tuesday’s closing report that Nifty, Sensex might log in gains. The major indices of the Indian stock markets were flat after an initial rally. On the NSE, there were 737 advances, 979 declines and 341 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
The key equity indices traded flat on Wednesday as higher wholesale inflation and caution during the ongoing assembly polls in five states weighed on the domestic investor sentiments. Although, crude oil prices eased and rupee appreciated during the day but positive sentiments eroded as the day progressed, analysts said. India's annual rate of inflation based on wholesale prices rose to 5.28% in October from 5.13% in September, the Commerce Ministry data said. Selling pressure was witnessed in export-oriented stocks like IT (information technology) and healthcare as the domestic currency appreciated to Rs72.16 to a US dollar from its previous close of 72.67. In addition the benchmark Brent Crude registered a steep decline to $65.42 a barrel. However, the index pivotals -- finance and banking stocks -- traded in the green.
India's annual rate of inflation based on wholesale prices rose to 5.28% in October from 5.13% in September, official data showed here on Wednesday. Even, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry was higher than 3.68% reported for the corresponding period of 2017. "The annual rate of inflation, based on monthly WPI, stood at 5.28% (provisional) for the month of October (over October, 2017) as compared to 5.13% (provisional) for the previous month and 3.68% during the corresponding month of the previous year," the data showed. "Build up inflation rate in the financial year so far was 4.64% compared to a build-up rate of 2.12% in the corresponding period of the previous year," the Commerce Ministry official statement said.
IDBI Bank reported Q2FY19 results with net interest income (NII) at Rs1,300.86 crore (Rs1,657.45 crore), down 21.5% year-on-year. Losses were at Rs3,602.49 crore (Rs197.84 crore). Provisions were at Rs5,481.64 crore (Rs2,842.15 crore). Gross non-performing assets (GNPA) were at 31.78% (24.98%) and net non-performing assets (NNPA) were at 17.30% (16.06%). The bank’s shares closed at Rs60.75, up 1.33% on the NSE.
Mahindra & Mahindra reported Q2 FY19 (standalone) results with revenues at Rs12,988.57 crore (Rs12,183.65 crore), up 6.6% year-on-year. Profit after tax was at Rs1,649.46 crore (Rs1,331.57 crore), up 23.90% year-on-year. Earnings per share were Rs13.86 (Rs11.20). Mahindra & Mahindra shares closed at Rs772.15, down 2.27% on the NSE.
Pfizer reported Q2FY19 (standalone) results with revenues at Rs519.74 crore (Rs571.11 crore), down 9% year-on-year. Net profit was at Rs95.80 crore (Rs111.15 crore), down 13.80% year-on-year. Earnings per share were at Rs20.94 (Rs24.29). The company’s shares closed at Rs2,800.00, down 2.16% on the NSE.
SpiceJet reported Q2FY19 (standalone) results with total income of Rs1,880.80 crore (Rs1,811.40 crore), up 3.80% year-on-year. Losses were at Rs389.30 crore (net profit of Rs105.20 crore). Earnings per share were at Rs minus 6.50 (Rs1.76). The airline’s shares closed at Rs83.70, up 2.83% on the BSE.
Motherson Sumi Systems reported Q2 FY19 (consolidated)results with total revenues at Rs15,104.97 crore (Rs13,420.43 crore), up 12.60% year-on-year. Net profit was at Rs371.07 crore (Rs436.20 crore), down 14.9% year-on-year. Earnings per share were Rs1.18 (Rs1.38). The company’s shares closed at Rs153.60, down 7.58% on the BSE.
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: