Investors await second quarter GDP data and OPEC decision later today.
Earnings Reaction:Share price of Mukta Arts added 15 percent in the early trade as it turned profitable in the quarter ended September 2017.
The company has posted net profit at Rs 9.4 crore against loss of Rs 4.9 crore in a year ago period.
Revenue also increased by 43 percent at Rs 37 crore gainst Rs 25.91 crore.
The has reported earnings before interest, tax, depreciation and amortization (EBITDA) at Rs 8.7 crore versus loss of Rs 5 lakh.
Market Update: Benchmark indices extended losses in morning, with the Sensex falling 181.97 points to 33,420.79.
The 50-share NSE Nifty has breached 10,300 level, trading lower by 59.40 points at 10,301.90.
The market breadth was also weak. About two shares declined for every share rising on the BSE.
Drug Recall: Drug major Lupin is recalling a single lot of Pravastatin Sodium USP tablets in the US, according to the US Food and Drug Administration (USFDA).
Make sure your Financial Advisors worth their fees here we’re letting you know us more who we actually so click here to TRADE UP >> Ripples Advisory
Interest Rate Increase: State-owned lender State Bank of India has raised interest rate on bulk deposits by 1 percentage point across certain categories, effective Thursday.
Post revision, SBI's rate on bulk deposits of over Rs 1 crore with a minimum tenure of 1 year stood at 5.25 percent. Senior citizens get an extra 50 basis points added to their interest rate across all maturities.
Market Check: Equity benchmarks started off last day of the month on a negative note ahead of expiry of November derivative contracts. Investors also await second quarter GDP data and OPEC decision later today.
The 30-share BSE Sensex fell 154.03 points to 33,448.73 and the 50-share NSE Nifty declined 49 points to 10,312.30, tracking weakness in Asian stocks.
Vedanta, Tech Mahindra, Axis Bank, UltraTech Cement, SBI, Kotak Mahindra Bank, Adani Ports, Tata Motors and Reliance Industries were early losers.
Sun Pharma, Indiabulls Housing Finance, Bosch, IndusInd Bank, Wipro and Aurobindo Pharma were early gainers.
Nifty Midcap was down 0.4 percent. Future Retail, McLeod Russel, Balaji Telefilms, GNA Axles, Indiabulls Real, Puravankara, Delta Corp and Gati were down 1-4 percent.
No comments:
Post a Comment