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As on Aug 17, 2017 12:00 AM Your results on : End Session    
Market settles with minuscule gains
17-Aug-2017 (16:11)

Key benchmark indices settled with minor gains after a volatile trading session. The barometer index, the S&P BSE Sensex, rose 24.57 points or 0.08% to settle at 31,795.46. The Nifty 50 index advanced 6.85 points or 0.07% to settle at 9,904.15. Weakness in European stocks and subdued trading on Asian bourses kept investors' risk-appetite in check.

The Sensex and the Nifty reversed trend in mid-morning trade after hitting their highest levels in more than a week in morning trade. Both the indices bounced back in early afternoon trade. Recovery, however, proved short lived as key indices wiped off almost all gains in late trade.

Stocks of public sector banks edged higher. Stocks of private sector banks declined. IT major Infosys advanced after the company announced that its board will consider a proposal for buyback of equity shares at a meeting to be held on 19 August 2017.

The Sensex rose 24.57 points or 0.08% to settle at 31,795.46, its highest closing level since 9 August 2017. The index rose 166.62 points, or 0.52% at the day's high of 31,937.51. The index fell 56.79 points, or 0.18% at the day's low of 31,714.10.

The Nifty advanced 6.85 points or 0.07% to settle at 9,904.15, its highest closing level since 9 August 2017. The index rose 50.50 points, or 0.51% at the day's high of 9,947.80. The index fell 13.55 points, or 0.13% at the day's low of 9,883.75.

Among other key indices, the S&P BSE Mid-Cap index fell 0.35%, underperforming the Sensex. The S&P BSE Small-Cap index rose 0.54%, outperforming the Sensex.

The breadth, indicating the overall health of the market, was positive. On BSE, 1,398 shares rose and 1,164 shares fell. A total of 138 shares were unchanged.

The total turnover on BSE amounted to Rs 3232.93 crore, lower than turnover of Rs 4401.84 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE IT index (up 1.84%), the BSE Telecom index (up 1.54%), the BSE Metal index (up 0.81%) and the BSE Power index (up 0.85%) outperformed the Sensex. The BSE Auto index (down 0.72%), the Bankex index (down 0.71%) and the BSE Capital Goods index (down 0.05%) underperformed the Sensex.

Stocks of public sector banks edged higher. Indian Bank (up 2.58%), IDBI Bank (up 1.6%), Bank of Baroda (up 0.82%) and Syndicate Bank (up 0.39%) gained. State Bank of India (down 0.76%) and Punjab National Bank (down 0.68%) edged lower.

United Bank of India rose 0.54% at Rs 18.60. The bank said that it has reduced deposit rates for deposit upto Rs 1 crore from 6.25% to 6.1% per annum. Deposit rate for more than Rs 1 crore has been reduced from 4.5% to 4.35% and amount upto Rs 50 lakh has been revised downwards from 4% to 3.5% effective 18 August 2017. The announcement was made after market hours yesterday, 16 August 2017.

Stocks of private sector banks declined. IndusInd Bank (down 1.24%), Kotak Mahindra Bank (down 1.17%) and ICICI Bank (down 0.17%) edged lower.

HDFC Bank declined 0.86% at Rs 1,765. The bank during trading hours today, 17 August 2017, announced a revision in its savings bank interest rate effective 19 August 2017. Post revision, customers maintaining savings bank account balance of Rs 50 lakh and above will continue to earn interest at 4% per annum. Customers maintaining account balance of below Rs 50 lakh will earn interest at 3.5% per annum. The revised rates will be applicable to both resident and non-resident customers.

Yes Bank lost 1.28% at Rs 1,738.95. The bank with effect from 1 September 2017 has revised its savings account interest rate slabs for resident & non-resident customers. The new slabs were: 5% per annum for savings balances less than Rs 1 Lakh, 6% (unchanged) for balances of Rs 1 lakh to less than Rs 1 crore and 6.25% per annum for balances above Rs 1 crore. The announcement was made after market hours yesterday, 16 August 2017.

Axis Bank declined 0.46% at Rs 496.80. The bank announced during trading hours today, 17 August 2017, that it retained the marginal cost of funds based lending rate (MCLR) at the same levels across tenors. The 1 year MCLR stands unchanged at 8.25%.

Telecom stocks advanced. Idea Cellular (up 2.82%), Bharti Airtel (up 2.29%) and Tata Teleservices (Maharashtra) (up 1.77%) gained. Bharti Infratel (down 0.73%) and Reliance Communications (down 0.64%) edged lower.

IT major Infosys advanced 4.54% at Rs 1,021.15 after the company announced that the board of directors of the company will consider a proposal for buyback of equity shares at its meeting to be held on 19 August 2017. The announcement was made after market hours yesterday, 16 August 2017.

Power Grid Corporation of India fell 0.54% to Rs 219.45. The company announced during trading hours today, 17 August 2017, that its board approved raising rupee term loan of up to Rs 3270 crore from ICICI Bank. The board also approved investment for HVDC bipole link at estimated cost of Rs 1931 crore.

Reliance Industries (RIL) declined 0.06% at Rs 1,566.05. With reference to news item titled, Govt slaps Rs.1,700-cr penalty on RIL, BP and media report titled, $264 m penalty slapped on RIL, RIL clarified during trading hours today, 17 August 2017, that it has not received any notice from the government regarding penalty in the recent past. The details contained in media reports of 16 August 2017 seems to have been taken from the last notice of 3 November 2016 received from the Government — for which company has already made appropriate disclosures.

In any event, all related claims/disputes relating to Block KG-D6 are currently in arbitration. Further, all these claims have been adequately covered under financial disclosures. RIL maintained that in carrying out petroleum operations, the contractor has complied with all the applicable regulations and provisions of the production sharing contract.

Engineering and construction major Larsen & Toubro (L&T) fell 0.75% to Rs 1,133.05. The company announced during trading hours today, 17 August 2017 that it delivered two more High Speed Interceptor Ships (C-433 and C-434) to Indian Coast Guard at the company's Kattupalli Shipyard, near Chennai, seven months ahead of contractual schedule. This is part of the two contracts being executed by L&T for design and construction of 54 Interceptors to Indian Coast Guard, valued at Rs 1424 crore. L&T had won the order against Global competition. With these two, 34 Interceptors have been delivered by the company, so far.

Separately, L&T announced after market hours yesterday, 16 August 2017 that it entered into definitive agreement for the divestment of its entire stake in L&T Cutting Tools, a wholly-owned subsidiary, with IMC International Metalworking Companies B.V, a company owned by Berkshire Hathaway Inc.

Overseas, European stocks edged lower as banks fell following a set of cautious minutes from the US Federal Reserve, and energy stocks also weighed on a busy day for company results. Asian stocks witnessed a mixed trend.

In economic news, Japanese exports rose 13.4% in July from a year ago, helped by exports of cars and automotive components. It was the eighth straight monthly gain in exports, data from Japan's Ministry of Finance showed today, 17 August 2017.

In US, shares closed slightly higher on Wednesday, 16 August 2017, but backlash from the business community against President Donald Trump kept gains in check. US President Donald Trump unexpectedly said on Wednesday, 16 August 2017, he was disbanding two advisory councils comprising prominent business executives. The move came after several members of Trump's Strategic and Policy Forum and Manufacturing Jobs Initiative councils stepped down following the president's Tuesday press conference in which the president blamed both sides for violence at a white nationalist rally in Virginia.

Meanwhile, minutes from the Federal Open Market Committee's July meeting released on Wednesday, 16 August 2017, showed that while some Fed members said they were worried over the tightening labor market, others voiced their concern over low inflation rates in the US. The minutes also showed the central bank was prepared to trim its massive balance sheet, although the announcement of a start date was left for an upcoming meeting.

Sensex, Nifty settle at one-week high
16-Aug-2017 (16:28)
Market nudges higher on positive global stocks
14-Aug-2017 (16:36)
Sensex settles at over 5-1/2-week low
11-Aug-2017 (16:35)
Sensex hits over one-month closing low
10-Aug-2017 (16:32)
Indices drop for third day in a row
09-Aug-2017 (16:29)
Sensex hits lowest closing level in almost three weeks
08-Aug-2017 (16:24)
Mid-Cap, Small-Cap indices outperform Sensex
07-Aug-2017 (16:27)
Market snaps two-day losing streak
04-Aug-2017 (16:36)
Market hits lowest closing level in more than a week
03-Aug-2017 (16:20)
Market registers modest losses
02-Aug-2017 (16:31)
Market settles at record high
01-Aug-2017 (16:26)
Sensex, Nifty hit record closing high
31-Jul-2017 (16:27)
Market settles with small losses
28-Jul-2017 (16:11)
Market ends on flat note
27-Jul-2017 (16:23)
Nifty closes above 10,000 mark
26-Jul-2017 (16:18)
Nifty corrects after hitting 10,000 mark
25-Jul-2017 (16:22)
Key benchmarks settle at new high
24-Jul-2017 (16:33)
Sensex ends above 32,000 mark
21-Jul-2017 (16:24)
Stocks register small decline
20-Jul-2017 (16:43)
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