Banking stocks drag Sensex 205 points down; Axis Bank, SBBJ slip over 3%

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New Delhi | Updated: July 21, 2016 3:54:38 PM

The BSE Sensex and NSE Nifty ended lower on Thursday on account of selling pressure in banking stocks.

bse sensex, nse nifty, global marketsThe BSE Sensex and NSE Nifty ended lower on Thursday on account of selling pressure in banking stocks. (Photo: AP)


The BSE Sensex and NSE Nifty ended lower on Thursday on account of selling pressure in banking stocks.  Sensex closed 205.37 points down at 27,710.52, while Nifty settled 55.75 points down at 8510.10. Traders failed to get a boost, with government expressing hope that the Rajya Sabha will clear the GST Bill in the first week of August on the back of support from regional parties.

In the 50-share index, Axis Bank, Bank of Baroda, Power Grid, Kotak Mahindra Bank and State Bank of India slid between 2.74 per cent and 3.83 per cent. On the other hand, ACC, UltraTech Cement, Ambuja Cement, IndusInd Bank and Asian Paint gained between 1.21 per cent and 4.43 per cent.

Sectorwise, the BSE Power index and Bankex slid 2.10 per cent and 1.70 per cent, respectively, and stood among top losers. The BSE Telecom and BSE FMCG index gained 0.17 per cent and 0.16 per cent.

Asian peers ended mixed on Thursday.

3.24 pm: SBBJ shares plunged over 3 per cent post Q1 results. SBBJ shares fell after the company reported net loss of Rs 221.56 crore against net profit of Rs 270.62 crore in the corresponding quarter a year ago.

3.15 pm: Selling in banking stocks further dampened market sentiments. Sensex was down 201 points at 27,715.31. Nifty was down 53.60 points at 8,512.25.

2.30 pm: Sensex was down 140 points at 27,776.

2.17 pm: Shares of VRL Logistics surged as much as 20 per cent on Thursday after the company informed bourses that it has decided to drop the plans for an entry into the civil aviation space. The scrip was trading 11.19 per cent up in the late afternoon trade.

1.35 pm: Kotak Mahindra Bank shares fall over 2 per cent after the bank reported lower-than-expected financial results for the quarter ended June 30, 2016. The bank had reported net profit of Rs 741.97 crore against Rs 189.78 crore in the corresponding quarter a year ago. Reliance Institutional Equities was expecting net profit of Rs 1,063.20 crore in Q1FY17 from the bank.

1.15 pm: Sensex was down 168 points at 27747. Nifty was down 27.35 points at 8,538.

1.10 pm: IIFL Holdings shares were trading 7.94 per cent up at Rs 243.30. Read more

Midcap stocks were outperforming benchmark indices in the afternoon trade. The BSE Midcap index was up 0.42 per cent at 12232. BSE Smallcap was trading 0.29 per cent up at 12,062.

12.26 pm: Anant Raj Ltd shares jumped 10.63 per cent to Rs 62.45. The company on Tuesday informed stock exchanges that it has approved the demerger of project and real estate division.

12.15 pm: HDFC Bank registered 20 per cent jump in bottomline figures at Rs 3,238.91 crore for the quarter ended June 30, 2016 against Rs 2,695.72 crore in the same quarter last year. Shares of HDFC Bank were trading 0.25 per cent down at Rs 1,229.

11.51 am: Axis Bank shares were trading 2 per cent down at Rs 547.50. The bank has reduced the base rate by 10 basis points from the current 9.45 per cent to 9.35 per cent. This will be effective from July 27, 2016.

11.02 am: Rupee fell by 5 paise to 67.25 against dollar in early trade on Thursday due to sustained demand for the American currency from banks and importers.

10.32 am: The 30-share index was down 19.31 points at 27896. Nifty was trading 0.80 points up at 8566.65.

10.11 am: Meanwhile, L&T Infotech shares listed on bourses at Rs 666.60 against the issue price of Rs 710.

9.54 am: Neyveli Lignite Corporation shares gained nearly 10 per cent in the early trade on Thursday. Read more

Sensex was down 47 points at 27869.20. Nifty was trading 8.65 points down at 8,557.

9.21 am: KPIT Technologies shares were trading 3.62 per cent up at Rs 137.55. The scrip jumped after the company reported 30.11 per cent rise in net profit at Rs 55.05 crore for the quarter ended June 30, 2016 against Rs 42.32 crore in the corresponding quarter last year.

9.15 am: The BSE Sensex opened 64.18 points up at 27980.07, while Nifty opened 16.85 points up at 8,582.70.



The BSE Sensex and NSE Nifty are likely to open flat with positive bias on Thursday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.

At 8.00 am (IST), SGX Nifty was down 1.50 points at 8,587.50.

Asian peers edged higher on Thursday. Hang Seng, Nikkei and Shanghai were trading higher by 0.56 per cent, 1.11 per cent and 0.19 per cent, respectively, in the morning trade.

Dow Jones Industrial Average index and S&P 500 index hit all-time highs. The S&P 500 index advanced 9.24 points, or 0.4 per cent, to close at 2,173.02. The Dow Jones Industrial Average index gained 36.02, or 0.19 per cent, to 18,595.03. The Nasdaq Composite index gained 53.56 points, or 1.1 per cent, to 5,089.93.

Sensex jumped 128.27 points to 27,915.89 on Wednesday on account of pharmaceutical stocks. Nifty gained 37.30 points to 8,565.85.

Shares of Larsen & Toubro Infotech will be listed on BSE and NSE today.


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