Closing Bell: Sensex closes 330 pts lower after Moody’s downgrade –


Closing Bell: Sensex closes 330 pts lower after Moody's downgrade - sensex, moody, lower, downgrade, closing, closes, after

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Nov 08, 2019 03:39 PM IST | Supply:

Sensex closed 330.13 factors or 0.81% within the purple at 40323.61, and the Nifty closed 103.80 factors decrease or 0.86% at 11908.20. YES Financial institution, IndusInd Financial institution and ICICI Financial institution have been the highest gainers whereas Solar Pharma, Vedanta and ONGC have been the highest drags.

  • Sanjeev Zarbade, VP PCG Analysis at Kotak Securities: International markets had a great week as US markets rallied making new excessive on de-escalation of commerce struggle with China. Because of this, market sentiment was optimistic, which led to the BSE30 Index gaining 0.Four % within the present week. 

    Markets have been upbeat on barely better-than-expected 2QFY20 outcomes in addition to hopes of a reform package deal from the federal government to deal with the NPA drawback in the true property sector. Sure Financial institution, Mahindra & Mahindra and TCS have been among the many main losers within the BSE-30 Index, whereas Vedanta, Tata Metal and HDFC have been among the many main gainers. 

    On the financial system entrance, Moody’s downgraded India’s ranking to detrimental from secure, noting slowdown within the financial system. FPIs purchased equities price USD 782 million over the previous 5 buying and selling classes whereas DIIs bought USD 563 million price of equities in the identical interval. Market sentiment is optimistic however valuations of huge caps are nearly truthful. Therefore, traders ought to search for mid-caps as valuations are affordable, however care must be taken to limit to solely these midcaps the place the administration high quality is sweet and earnings progress has been wholesome.

  • Ashok Leyland Q2: Web revenue went down 92.6 % at Rs 38.9 crore towards Rs 527.7 crore YoY. Income fell 48.Four % at Rs 3,929.5 crore towards Rs 7,621.1 crore YoY. EBITDA despatched down 72.Four % at Rs 228.6 crore towards Rs 829.1 crore YoY.

  • Magma Fincorp Q2: Consolidated web revenue went down 61.Four % at Rs 29.5 crore towards Rs 76.6 crore YoY. Consolidated income grew 6.Four % at Rs 663 crore towards Rs 622.6 crore YoY.

  • Novartis India Q2: Web loss at Rs 5.2 crore towards Rs 9.Four crore YoY. Income went up 10.5 % at Rs 118 crore towards Rs 106.6 crore YoY.

  • Aditya Birla Capital Q2: Web revenue went up 37 % at Rs 256 crore towards Rs 186 crore YoY. Income went up eight % at Rs 4,299 crore towards Rs 3,978 crore YoY.

  • RBI asks banks to not cost financial savings A/c clients for NEFT w.e.f January 2020

  • Moody’s cuts outlook on 6 Indian monetary corporations: Moody’s cuts outlook on 6 Indian monetary corporations to detrimental from secure: Moody’s revised outlook of EXIM India, HDFC Financial institution, HUDCO and State Financial institution of India to detrimental. 

    Outlook on Financial institution of India, Canara Financial institution, Syndicate Financial institution and Union Financial institution maintained at secure.

  • GAIL India Q2 misses analyst estimates, revenue falls 22.4% to Rs 1,167.6 crore

    GAIL India reported a 22.Four % saquentially decline in second quarter consolidated revenue, dented by decrease income and weak working revenue. Revenue dipped to Rs 1,167.6 crore in the course of the quarter, from Rs 1,504 crore in June quarter. Decrease tax value and better different revenue helped the corporate restrict revenue decline.

    Consolidated income in Q2FY20 was down 1.Three % QoQ to Rs 18,235 crore, firm mentioned in its BSE submitting. Income from pure gasoline advertising enterprise fell 10 % QoQ to Rs 16,857.98 crore in the course of the quarter and its EBIT dropped 72 % to Rs 241.72 crore QoQ.

  • Suzuki postpones India auto plant opening amid gross sales hunch and plans to delay opening of latest India plant by Three months: Nikkei

  • Eicher Motors Q2 web revenue jumps 18.5% YoY to Rs 570.5 crore

    Eicher Motors posted an 18.5 % year-on-year bounce in its second quarter (July-September) web revenue at Rs 570.5 crore. Income fell 9.2 % to Rs 2,181.9 crore. Earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) fell 25.eight % to Rs 546.1 crore, whereas EBITDA margin dipped 550 bps to 25.1 %.

    Different revenue stood at Rs 145 crore versus Rs 95.Three crore. Tax expense in Q2 stood at Rs 28.eight crore versus Rs 260 crore YoY.

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