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MARKET WRAP: Sensex ends 155 pts lower; SBI down 4% post Q1 results

SI Reporter/New Delhi 10 Aug 18 | 08:15 AM

(Photo: iStock)

Benchmark indices ended lower on Friday, after touching record highs for four straight sessions, following global market trends. Metals, pharma and PSU banks were the top draggers during the day.

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The S&P BSE Sensex ended the day at 37,869 down 155 while the Nifty50 index settled at 11,429 down 41 points

SBI Q1 Results

SBI slipped 4% after it reported a bigger-than-expected quarterly loss on Friday, as the country's biggest lender by assets made higher provisions for treasury losses. SBI's third consecutive quarterly net loss came in at Rs 48.76 billion ($707.28 million) for the three months to June 30, compared with a profit of Rs 20.06 billion a year ago, and a record loss of Rs 77.18 billion in the March quarter. Gross NPA stood at 10.69% vs 10.91% QoQ while provisions were at Rs 192.28 billion vs Rs 280.96 billion QoQ

Jet Airways slips

Shares of Jet Airways hit a three-year low of Rs 262, down 10% on the BSE on Friday in early morning trade after the company deferred announcing their June quarter numbers to an unspecified date. On the National Stock Exchange (NSE), the stock hit a low of Rs 258, and is trading at its lowest level since June 16, 2015 READ MORE

Global Markets

Asian stock markets fell on Friday while currency markets were whipsawed by a searing selloff in Russia’s rouble after the United States slapped on new sanctions.

Washington said it would impose fresh sanctions because it had determined that Moscow had used a nerve agent against a former Russian agent and his daughter in Britain, which the Kremlin denies.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent. Japan’s Nikkei stock index fell 0.5 per cent despite data showing that the country’s economy expanded at a faster-than-expected annualized rate of 1.9 per cent in the second quarter in a sign of improving momentum.

(With Reuters inputs)

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Sensex

Company Price Gain (%)
Yes Bank392.953.76
St Bk of India302.003.18
Vedanta215.003.09
Hind. Unilever1,780.802.63
Tata Motors257.352.47

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