INSUBCONTINENT EXCLUSIVE:
Banking stocks were in the limelight on Tuesday as two private lenders came out with their quarterly earnings
IndusInd Bank slipped nearly 4 per cent while Bandhan Bank ended 1 per cent higher in Mumbai trading post their Q3 numbers
YES Bank continued its decline, plunging further 8 per cent
All these actions led the banking indices to end lower on NSE.
BSE flagship Sensex gained 92 points to 41,952, while its NSE counterpart
Budget and earnings growth visible in ongoing Q3 results
after Q3 showShares of IndusInd Bank fell 3.85 per cent to Rs 1,481 after the company said its asset quality worsened and provisions
increased 72 per cent to Rs 1,043.45 crore in December quarter from Rs 606.68 crore in the same quarter a year ago.
YES Bank plungesTraders
continued to punish YES Bank for the third straight day, as the stock fell 8.43 per cent more to Rs 38.55
It has slumped 18.49 per cent since January 9.
Bandhan Bank edges higherShares of Bandhan Bank closed 1.03 per cent higher at Rs 518 after
the company reported a 120 per cent year-on-year (YoY) rise in net profit at Rs 731 crore for December quarter compared with Rs 331 crore
reported for the same quarter last year.
Religare shares jump 5%Shares of Religare Enterprises hit the 5 per cent upper circuit after value
investors Ashish Kacholia and Mukul Agrawal bought stake in the company
The stock closed 4.98 per cent higher at Rs 49.50
Kacholia picked up 40 lakh shares while Agrawal bought 26 lakh shares at Rs 44 per share on Monday.
HDFC, ITC lift SensexHDFC, ITC and Axis
Reliance Industries, IndusInd Bank and Kotak Mahindra Bank capped gains bleeding 93 points.
Most active stocksIndusInd Bank was the most
active stock in terms of turnover on NSE, followed by Tata Global Beverages, YES Bank, Reliance Industries and Infosys
YES Bank topped the charts in terms of transactions volume, followed by Vodafone Idea, Tata Global Beverages, SAIL and TV18
Broadcast.
Broader indices outperformBroader market indices were at the forefront of the rally on Tuesday
Nifty Smallcap edged 0.81 per cent higher to 6,164 and Nifty Midcap advanced 0.71 per cent to 17,651
Nifty 500 gained 0.33 per cent to 10,075.
Flop show from banking indexBanking indices on NSE closed in the red
Nifty Bank dipped 0.33 per cent while Nifty Private Bank was down 0.47 per cent and Nifty PSU Bank 0.26 per cent
The biggest gainer among sectoral indices was Nifty Media that added 2.1 per cent, followed by Nifty FMCG, up 1.41 per cent.
135 stocks give
bullish signalAs many as 135 stocks closed above their 50-day exponential moving average giving a bullish signal
The 50-DEMA is a trend indicator used by technical analysts