Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessMarkets

Sensex ends up 142pts, Nifty below 8450; Dr Reddy's up 5%

Dr Reddy's Labs was up 6 percent while Cipla, ITC, HDFC and HUL were gainers. Sun Pharma, Hindalco, TCS and Infosys were laggards.

July 30, 2015 / 04:47 PM IST

Moneycontrol Bureau

03:30 pm Market close: The market ended with zeal with benchmark indices pocketing smart gains. The Sensex was up 141.92 points or 0.5 percent at 27705.35. The Nifty ended July F&O series up 46.75 points or 0.6 percent at 8421.80. About 1741 shares advanced, 1126 shares declined, and 143 shares were unchanged.

Dr Reddy's Labs was up 5 percent while Cipla, ITC, HDFC and HUL were gainers. Sun Pharma, Hindalco, TCS and Infosys were laggards.03:00 pm Gold price: Falling for the third straight day, gold prices tumbled by another Rs 200 to Rs 25,090 per ten gram at the bullion market on Thursday in line with a weakening global trend amid subdued demand from jewellers. Silver also eased by Rs 150 to Rs 34,050 per kg on reduced offtake by industrial units and coin makers.Traders said a weakening global trend where gold heading for its largest monthly decline in two years, as the Federal Reserve moved closer to boosting US interest rates for the first time since 2006, mainly kept pressure on precious metals prices.

02:30 pm Earnings: Dena Bank's first quarter net profit plunged 81.3 percent year-on-year to Rs 15.2 crore, impacted by higher provisions, lower operating profit and slow growth in net interest income. However, tax write-back supported bottomline.

Net interest income, the difference between interest earned and interest expended, grew by 2.6 percent to Rs 628.2 crore from Rs 612 crore during the same period.

During the quarter, other income (non-interest income) increased marginally to Rs 146.11 crore from Rs 144.42 crore while operating profit fell 27.9 percent to Rs 226.30 crore year-on-year.

Provisions for bad loans spiked 42.5 percent (down 32 percent sequentially) to Rs 325 crore in June quarter compared to Rs 228 crore in the corresponding quarter of last fiscal.

Asset quality was very weak in the quarter gone by as gross non-performing assets rose to 6.2 percent (from 5.45 percent in March quarter and 4.21 percent in the year-ago period) and net NPA climbed to 4.24 percent (from 3.82 percent Q-o-Q and 2.94 percent Y-o-Y).

02:00 pm Market Check

The market continued to see buying interest in afternoon trade, supported by FMCG, banking & financials, auto and select pharma stocks. The Sensex gained 195.06 points or 0.71 percent at 27758.49 and the Nifty rose 56.55 points or 0.68 percent to 8431.60.

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 1 percent and 0.9 percent, respectively. About 1710 shares have advanced, 1013 shares declined, and 139 shares are unchanged on the BSE.

Dr Reddy's Labs jumped more than 4 percent after better than expected earnings in June quarter. Profit grew by 14 percent year-on-year to Rs 626 crore and revenue rose by 7 percent, supported by North America and India businesses.

first published: Jul 30, 2015 02:00 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347