• Open an account Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c

Home > News > Top News

  • Telecom stocks slide
  • October 25,2018  14:34
  • Volatility struck bourses in mid-afternoon trade as the key benchmark indices extended losses after staging a strong pullback from lower level. At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 276.30 points or 0.81% at 33,757.66. The Nifty 50 index was down 73.95 points or 0.72% at 10,150.80. Telecom stocks dropped. Negative global stocks impacted sentiment on the domestic bourses.

    The Sensex was currently trading below the psychological 34,000 level after sliding below that level in opening trade. Trading for the day began on a weak note as the key benchmark indices saw a gap-down opening on negative Asian stocks. Stocks extended slide in morning trade on selling pressure in index pivotals. Key indices continued to trade with weakness near the day's low in mid-morning trade. Stocks staged a mild recovery in early afternoon trade. Indices pared losses in afternoon trade.

    The S&P BSE Mid-Cap index was down 0.3%. The S&P BSE Small-Cap index was down 0.86%.

    The market breadth, indicating the overall health of the market, was weak. On the BSE, 804 shares rose and 1576 shares fell. A total of 137 shares were unchanged.

    Trading was volatile as traders roll over positions in the F&O segment from the near month October 2018 series to November 2018 series. The October 2018 F&O contracts expire today, 25 October 2018.

    Telecom stocks dropped. MTNL (down 1.37%), Tata Teleservices (Maharashtra) (down 2.89%) and Reliance Communications (down 4.65%) declined. Vodafone Idea (up 4%) gained.

    Shares of Bharti Infratel rose 0.86%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

    Bharti Airtel lost 5.92% ahead of its September quarterly result today, on 25 October 2018.

    Maruti Suzuki India fell 0.98% after net profit declined 9.8% to Rs Rs 2240.40 crore on 0.5% decline in net sales to Rs 21551.90 crore in Q2 September 2018 over Q2 September 2017. The result was announced during trading hours today, 25 October 2018.

    The operating profit was Rs 2710.10 crore, lower by 9.5% over the same period previous year on account of increase in commodity prices, adverse foreign exchange movement and higher sales promotion expenses partially offset by cost reduction efforts. The company said it sold a total of 484,848 vehicles in Q2 September 2018, lower by 1.5% over the same period of the previous year. Sales in the domestic market stood at 455,400 units and exports were at 29,448 units.

    Oriental Bank of Commerce rose 2.33% after the bank reported net profit of Rs 101.74 crore in Q2 September 2018 compared with net loss of Rs 1749.90 crore in Q2 September 2017. Total income fell 10.04% to Rs 4967.29 crore in Q2 September 2018 over Q2 September 2017. The result was announced during trading hours today, 25 October 2018.

    The bank's gross non-performing assets (NPAs) stood at Rs 25673.31 crore as on 30 September 2018 as against Rs 26141.28 crore as on 30 June 2018 and Rs 26431.86 crore as on 30 September 2017. The ratio of gross NPAs to gross advances stood at 17.24% as on 30 September 2018 as against 17.89% as on 30 June 2018 and 16.30% as on 30 September 2017.

    The ratio of net NPAs to net advances stood at 10.07% as on 30 September 2018 as against 10.63% as on 30 June 2018 and 9.44% as on 30 September 2017. The bank's provisions and contingencies fell 67.28% to Rs 1073.75 crore in Q2 September 2018 over Q2 September 2017.

    Overseas, most European shares declined as investors digested corporate earnings and looked ahead to a rate decision by the European Central Bank (ECB).

    ECB is due to meet later Thursday and will announce if there has been any changes to policy. Meanwhile, the spat between Rome and Brussels over next year's budget continues. Italian Finance Minister Giovanni Tria said Wednesday that he sees no reason to present a new budget, after the European Commission said the plan was not good enough and wanted a new version within three weeks' time.

    Most Asian stocks declined as concerns mount that corporate profits and economic growth are peaking amid rising borrowing costs. US stocks dropped yesterday, 24 October 2018 as mixed corporate earnings and weak housing data fueled anxiety that rising prices will crimp economic growth.

    China's recent stock market troubles and political drama in Europe surrounding Italy's budget row with the European Union as well as Britain's efforts to exit from the EU also have combined to hurt investor sentiment.

    On the US data front, the flash reading of IHS Markit's manufacturing purchasing managers index rose to a five-month high of 55.9 in October from 55.6, while the flash services PMI rose to a two-month high of 54.7 from 53.5 in September. A reading of at least 50 indicates improving conditions.

    Powered by Capital Market - Live News

Economy News
Global News

Follow us:

Disclaimer: Investment in securities and commodities market are subject to market risks, read all the related documents carefully before investing. SMC Global Securities Ltd. (CIN : U67120DL1997PLC188881): NSE INB/ INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432, CDSL/NSDL-IN-DP-130-2015, SMC Research Analyst Registration- INH 100001849 I SMC Comtrade Ltd.: NCDEX/MCX (8200)/ NMCE/ICEX-INZ000035839 I SMC Investments and Advisors Ltd.: PMS INP000003435 I SMC Insurance Brokers Pvt. Ltd., IRDAI Regi: No: DB 272/04, License No. 289 Valid upto 27/01/2020 I Registered Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005, Tel.: (011) 30111000. For any complaints email – igc@smcindiaonline.com, website: www.smctradeonline.com

Insurance is the subject matter of solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC Investments & Advisors Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services provided by SMC Comtrade Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.

OUR OTHER WEBSITES Go
IMPORTANT LINKS Go
QUICK LINKS
Go

Toll-free : 1800-11-0909
Email: contact@smctradeonline.com

Sitemap
 
Copyright ©2016 SMC. All Rights Reserved | Disclaimer | Privacy Policy | RMS Policy | Copyright| Testimonials| Sitemap| Grievance| design agency: triverse| Powered by C-MOTS Infotech (ISO 9001:2015 certified)
Open An Account

Open my trading account now!  X 

* All fields are compulsory