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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Sensex closes the week 2% higher 
(Fri, 10 Aug Closing) 
 
The Indian stock markets started the day below the dotted line and continued to trade in the negative zone for the better part of today's trading session. However in the final hours of trade the markets moved slightly upwards. Finally the indices closed the day on a flat note. Despite a few flattish days of trade, the BSE-Sensex still managed to close the week 2% in the green. The market breadth was negative with 1.3 declines to every advance. While the BSE-Sensex closed flat, lower by around 3 points (down 0.02%), the NSE-Nifty closed lower by around 2.6 points (down 0.05%). The smaller indices also had a weak day on the bourses. The BSE Mid Cap index closed flat while the BSE Small Cap closed 0.3% lower. The consumer durables and the auto indices both saw losses today. IT and FMCG stocks led the gains.

As regards global markets, Asian indices had a mixed outing today. European indices opened the day on a negative note. The rupee was trading at Rs 55.30 to the dollar at the time of writing.

State Bank of India (SBI) declared its results for the first quarter of the financial year 2012-13 (1QFY13). The bank reported a 19.5% YoY growth in interest income. Net interest income (interest income less interest costs) grew by 15% YoY in 1QFY13, on the back of a 20% YoY growth in advances. Other income however fell by 1% YoY in 1QFY13 on the back of lower fee and dividend income. NIMs (net interest margins) remained steady at 3.6% in 1QFY13. Net NPAs (Non Performing Assets) rose from 1.6% in 1QFY12 to 2.2% in 1QFY13, with the back seeing a further deterioration in asset quality. Net profit rose by 137% YoY in 1QFY12 on account of a low base effect as well as lower provisions on advances and a benign increase in other expenses. The bank's capital adequacy ratio stood at 13.2% at the end of 1QFY13 as per Basel II post the funding it received from the government last quarter. On the back of asset quality woes the stock tanked 4.3% in trade today and was the top loser among the Sensex companies.

According to a leading business daily, public sector company Engineers India Ltd (EIL) announced that it bagged a consultancy service contract from Cairn Energy India for its enhanced oil recovery project for Mangala oil field in the Rajasthan block. EIL is a engineering consultancy company & EPC contractor in the fields of petroleum refining, petrochem, mining & metallurgy, infra projects etc. EIL has been asked to do the Front End Engineering and Design (FEED) for the Mangala Polymer Project. The project involves setting up of additional surface facilities for 15 existing well pads with associated pipelines and infrastructure facilities for development of a polymer flood at the oilfield for enhanced crude oil recovery. Polymer based enhanced oil recovery technology is being implemented in India for the first time, thus this will be a marquee project for the company. EIL has recently diversified into newer areas such as nuclear, solar & thermal power, water & solid waste management, city gas distribution and fertilisers. EIL closed almost 2% lower in trade today.

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Jul 21, 2017 (Close)

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