Friday 19 May 2017

Sensex, Nifty see trend reversal, trade in red; SBI gains 2% post Q4

Leading stock exchange BSE will introduce futures and options contracts in five companies, including RBL Bank and state-run National Aluminium Company (Nalco), from May 26.

Hindustan Construction Company, Kajaria Ceramics, and Ramco Cements are other companies in which futures and options trading has been allowed.

Benchmark indices were trading lower, with the Sensex and Nifty cutting all losses and reversing the trend completely.

The Sensex was down 33.44 points at 30401.35, while the Nifty was down 18.40 points at 9411.05. The market breadth was negative as 798 shares advanced against a decline of 1,743 shares, while 155 shares were unchanged.

ITC and State Bank of India were the top gainers, while Asian Paints, Hindalco and GAIL were top losers.

State Bank of India (SBI) reported 122 percent year-on-year (YoY) rise in net profit for the quarter ended March to Rs 2,814 crore on Friday which was slightly lower than CNBC-TV18 estimate of Rs2,832 crore.

The largest public sector bank reported a net profit of Rs 1,263.81 crore in the corresponding quarter of last fiscal.

The net interest income surged by 17.3 percent (YoY) to Rs 18,070.7 crore for the quarter ended March which was higher than CNBC-TV18 estimate of Rs 15,275.90 crore. SBI reported net interest income of Rs 15,401.30 crore in the year-ago period.

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