Sensex Ends Day Marginally Higher; Tata Steel Surges 3.5%

After opening the day in green, share markets in India witnessed volatile trading activity throughout the day and ended the day in the green. Sectoral indices were mixed, with stocks in the metal sector and stocks in the capital goods sector leading the gains.

At the closing bell, the BSE Sensex stood higher by 95 points (up 0.3%) and the NSE Nifty closed up by 39 points (up 0.4%). The BSE Mid Cap index ended the day up 0.7%, while the BSE Small Cap index ended the day up by 0.6%.

Asian stock markets too finished in green. As of the most recent closing prices, the Hang Seng was up by 1.4% and the Shanghai Composite was up by 0.9%. The Nikkei 225 was up by 0.2%. Meanwhile, European markets were trading on a mixed note. The FTSE 100 was up by 0.1%, The DAX, was down by 0.1% while the CAC 40 was up by 0.2%.

The rupee was trading at Rs 65.74 against the US$ in the afternoon session. Oil prices were trading at US$ 68.79 at the time of writing.

In news from stocks in the banking sector. Indusind Bank share price ended the day on a dull note after the bank declared its results for the quarter ended 31 March 2018 (Q4).

Net profit for the year 2017-18 rose by a similar 26% to Rs 36.1 billion compared with Rs 28.7 billion in 2016-17.Indusind Bank’s Q4 net profit jumped over 26.7% yoy to Rs 9.53 billion backed by a stable asset quality.

IndusInd Bank, which is the sixth largest private sector lender, also reported a 20% increase in net interest income at Rs 200 billion in the fourth quarter.

For the whole of 2017-18, its net interest income grew 24% to Rs 749.7 billion.

Meanwhile, gross bad loans as a percentage of total loans stood at 1.17% at end-March, compared with 1.16% in the previous quarter and 0.93% a year earlier.

Indusind Bank share price ended the day down by 0.6%.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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