The market remained marginally under pressure, dragged by banking & financials. The Sensex declined 46.91 points to 28416.40 and the Nifty fell 21.10 points to 8588.75. However, the broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.2 percent.
About 1141 shares have advanced, 718 shares declined, and 97 shares are unchanged on the Bombay Stock Exchange. Infosys, HDFC, ITC, Axis Bank, Tata Motors, SBI, BHEL and ICICI Bank dropped 0.2-1 percent. ACC fell 2 percent, reacting negatively to its quarterly numbers released on Friday evening with EBIDTA per tonne down 28 percent Y-o-Y and 36 percent Q-o-Q. CLSA has cut CY15-17 estimates by 10-16 percent but continue to believe that the worst is over for the sector. UltraTech Cement also declined nearly 2 percent ahead of earnings today. Federal Bank crashed 7 percent as the bank reported a 35 percent fall in profits Y-o-Y with provisions up over 5 times Y-o-Y. Gross non-performing assets worsened 55 basis points Q-o-Q primarily due to one account of over Rs 100 crore from the steel sector slipping. Karnataka Bank also lost nearly 6 percent as profit in Q1 fell by 10 percent. Oberoi Realty and CRISIL gained 1.5 percent each while CARE Ratings fell 3 percent post earnings.
For More Detail -- http://www.allianceresearch.in/
\Or Call on -- 0761-4025251, 9993716323
About 1141 shares have advanced, 718 shares declined, and 97 shares are unchanged on the Bombay Stock Exchange. Infosys, HDFC, ITC, Axis Bank, Tata Motors, SBI, BHEL and ICICI Bank dropped 0.2-1 percent. ACC fell 2 percent, reacting negatively to its quarterly numbers released on Friday evening with EBIDTA per tonne down 28 percent Y-o-Y and 36 percent Q-o-Q. CLSA has cut CY15-17 estimates by 10-16 percent but continue to believe that the worst is over for the sector. UltraTech Cement also declined nearly 2 percent ahead of earnings today. Federal Bank crashed 7 percent as the bank reported a 35 percent fall in profits Y-o-Y with provisions up over 5 times Y-o-Y. Gross non-performing assets worsened 55 basis points Q-o-Q primarily due to one account of over Rs 100 crore from the steel sector slipping. Karnataka Bank also lost nearly 6 percent as profit in Q1 fell by 10 percent. Oberoi Realty and CRISIL gained 1.5 percent each while CARE Ratings fell 3 percent post earnings.
For More Detail -- http://www.allianceresearch.in/
\Or Call on -- 0761-4025251, 9993716323
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