Equity benchmark BSE Sensex jumped over 150 points in early trade Friday led by banking stocks amid unabated foreign fund inflow. The 30-share index was trading 152.41 points or 0.39 per cent higher at 38,883.27, and the NSE Nifty rose 50.90 points or 0.44 per cent to 11,692.70.<\/p>\n\n\n\n
In the previous \nsession, the BSE bourse slumped 323.82 points, or 0.83 per cent, to \nclose at 38,730.86, while the Nifty declined 84.35 points, or 0.72 per \ncent, to 11,641.80.Tata Steel was the biggest gainer in the Sensex pack,\n rising 4.31 per cent, after the company Thursday reported a rise \nconsolidated revenue to Rs 1,59,089.57 crore, up from Rs 1,24,990.79 \ncrore.<\/p>\n\n\n\n
The company, which after many years of being the No 2 to \nJSW Steel, became the largest alloy maker with an annual output of close\n to 20 MT in FY19. It, however, reported a sharp 84.37 per cent fall in \nconsolidated net income at Rs 2,295.25 crore for the three months to \nMarch due to high base last year.<\/p>\n\n\n\n
The company had booked a net \nincome of Rs 14,688.02 crore in the corresponding quarter of the \nprevious fiscal, boosted by an “exceptional” gain of Rs 11,376 crore. \nAxis Bank too rose 1.77 per cent after the private lender Thursday \nreported a net profit of Rs 1,505 crore for the March quarter of \n2018-19, driven by a significant decline in provisioning and higher \ninterest income.<\/p>\n\n\n\n
Other gainers in morning session were HCL Tech, \nCoal India, Bharti Airtel, Sun Pharma, PowerGrid, NTPC, ITC, L&T, \nTCS, RIL and SBI, rising up to 1.53 per cent. On the other hand, Tata \nMotors, Maruti, IndusInd Bank, Hero MotoCorp, Kotak Bank, HDFC and \nVedanta were among the top losers, shedding up to 2.62 per cent. \nMeanwhile, Hero MotoCorp Yes Bank, HDFC AMC and HDFC Life Insurance are \namong the companies that are scheduled to announce their March quarter \nresults on Friday.<\/p>\n\n\n\n
According to traders, investor sentiment was \nbuoyed by firm buying on banking counters. Sustained foreign fund \ninflows too lifted market mood. Foreign institutional investors (FIIs) \npurchased equity worth Rs 3,785.73 crore on Thursday, while domestic \ninstitutional investors sold shares to the tune of Rs 4,069.98 crore, \nprovisional data available with stock exchanges showed.<\/p>\n\n\n\n
The rupee\n appreciated 12 paise to 70.13 against the US dollar in early trade. \nBrent crude futures, the global oil benchmark, were trading 0.24 per \ncent lower at USD 74.17 per barrel.Elsewhere in Asia, benchmark equity \nindices in Shanghai, Tokyo and Seoul were trading on a negative note in \nearly trade.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
Equity benchmark BSE Sensex jumped over 150 points in early trade Friday led by banking stocks amid unabated foreign fund inflow. The 30-share index was trading 152.41 points or 0.39 per cent higher at 38,883.27, and the NSE Nifty rose 50.90 points or 0.44 per cent to 11,692.70. In the previous session, the BSE bourse […]<\/p>\n","protected":false},"author":1,"featured_media":60029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-60028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/60028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=60028"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/60028\/revisions"}],"predecessor-version":[{"id":60030,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/60028\/revisions\/60030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/60029"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=60028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=60028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=60028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}