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Revealed
India's Third Giant Leap

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A 2.4% gain for the week
Fri, 16 Jan Closing

After trading in the positive territory during post noon trading session, the Indian equity markets failed to gather further ground; nevertheless they closed the day in the green. While the BSE Sensex today ended with gains of 46 points, the NSE-Nifty closed higher by 20 points. As compared to the last week, the Sensex closed up by 2.4%.

Midcaps and Smallcaps too remained listless today. While the BSE Mid Cap index closed higher by 0.32% the BSE Small Cap index closed lower by 0.04%. Consumer durables and healthcare stocks were the biggest gainers today.

As regards global markets, Asian pack closed weak today. The rupee was trading at Rs 62.02 odd levels to the dollar at the time of writing.

Power stocks have ended the day on a mixed note. NTPC, India's largest power producer, has signed Rs 100 bn term loan agreement with SBI. The loan will have tenure of 15 years. NTPC has lined up huge capex plans in order to meet the power deficit situation in the country. The current agreement will ensure that it is able to avail liquidity at the right time to fund its capex if need be.

Private banking stocks have ended the day on a weak note. Axis Bank reported its results today. Net interest income increased 20.3% YoY to Rs 35.89 bn. Profits for 3QFY15 increased 18.45% YoY to Rs 19 bn. Growth was boosted by higher other income (+24% YoY). However, rise in provisions (+151% YoY) curtailed profitability to an extent. Net NPA increased to 0.44% in 3QFY15 as compared to 0.42% in 3QFY14. The CAR stood at 14.06% at the end of the quarter.

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