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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Markets end flat on weak cues 
(Tue, 23 Apr Closing) 
Weak economic cues from global markets coupled with mixed set of results from India Inc. led to index heavyweights soliciting very little investor interest today. The indices in Indian equity markets remained range bound throughout the session today despite selective buying interest in auto, pharma and banking heavyweights. While the BSE-Sensex closed higher by a marginal 10 points, the NSE-Nifty closed higher by 3 points. While the BSE Mid Cap index lost 0.4%, the BSE Small Cap ended marginally higher.

As regards global markets, Asian indices closed flat to negative today while European indices have opened in the green. The rupee was trading at Rs 54.34 to the dollar at the time of writing.

HDFC Bank declared the results for the fourth quarter of financial year 2012-13 (4QFY13) today. The bank has reported a 21% YoY and 30% YoY growth in net interest income and net profits respectively in 4QFY13. The growth in net interest income was on the back of 23% YoY growth in advances. NIMs came in higher at 4.5% at the end of 4QFY13 as against 4.3% in the previous quarter (CASA at 46% of total deposits). The other income grew by 30% YoY, with fees and commissions growing in excess of 24% YoY. The cost to income ratio, however, went up to 51.4% in 4QFY13. Net NPA to advances remained stable at 0.2% of advances in FY13. HDFC Bank's provision coverage ratio was at 80% at the end of March 2013. Capital adequacy ratio (CAR) too was comfortable at 16.8%, Tier I CAR at 11.1% at the end of 4QFY13.

Telecom stocks closed mixed today. While Idea cellular and AGC networks were in favour, ITI Ltd and Reliance communications were among the leading losers. As per the financial daily, Bharti Airtel (BTVL) has entered into agreement to buy rival Warid Telecom in Uganda, this move will increase its customer base in the country by approx 60%. Reportedly, Warid is the third largest player in telecom market in Uganda. The deal will add around 2.8 m customers and take Airtel's total user base to 7.4 m customers in the country. The financial deals of the terms remain undisclosed. Bharti is ranked second in Uganda.

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May 26, 2017 (Close)