Indian Indices Open Weak

Thu, 19 May 09:30 am

   Previous Close   

   Pre-Open   

   11:30 am   

   01:30 pm   

   Closing   

Barring China, major Asian stock markets have opened the day on negative note. Stock markets in Indonesia and Singapore are trading lower by 0.9% and 0.8% respectively. Benchmark indices in Europe and US ended their previous session on a encouraging note. The rupee is trading at 66.91 per US$.

Indian stock markets have opened the day on a weak note. The BSE Sensex is trading lower by 130 points (down 0.5%) and NSE Nifty is trading lower by 40 points (down 0.5%). However, BSE Mid Cap and BSE Small Cap are trading marginally higher by 0.02% and 0.1% respectively.

Major sectoral indices have opened the day in red with stocks from telecommunication and banking sectors witnessing selling pressure.

Punjab National Bank reported its results for the quarter ended March 2016. The bank posted a record loss of Rs 53.6 billion during the quarter as compared to a net profit of Rs 3 billion a year ago.

The gross non-performing asset (NPA) more than doubled to Rs 558.1 billion as compared to a year ago. As a % of total advances, gross NPAs shot up by 6.35% YoY to 12.9%. However, the worst is not over. The management stated that there could be further deterioration in the asset quality.

The provisions too increased sharply as the company set aside money to provide for the bad loans. Reportedly, the provisions increased by almost two fold to Rs 85.9 billion on a sequential basis.

Further, net interest income of the bank contracted by 27% YoY to Rs 27.6 billion. Net interest margins too fell to 2.6%. Asset quality will be the key things to watch out for the company going forward. The stock is trading down by 2.1%.

Indian Hotels too reported its results for the quarter ended March 2016. The company reported a standalone net profit of Rs 0.9 billion as compared to a net loss of Rs 1.2 billion a year ago.

The net sales grew by 12% YoY to Rs 6.8 billion. The topline witnessed a healthy growth on account of increased domestic and business travelling.

Further, the management stated that the company intends to sell the Taj hotel in Boston for the base price of US$ 125 million (about Rs 8.4 billion). Reportedly, the company had acquired Taj Boston hotel in 2006 from Millennium Partners for US$ 170 million.

The company stated that the strategy to divest the Boston-based hotel is part of its plan to evaluate the relevance of some of its existing assets in the portfolio to reduce leverage and focus on growth in high margin markets. The company is in the process of exiting non-profitable properties across geographies.

This restructuring process will help the company to improve its operating profitability. Further, the strategy will also help in cost rationalization.

Going forward, increase in tourism and economic activity will be the key things to watch out for in order to assess an improvement in the hotel industry.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers