Sensex falls 100 pts, Nifty breaks 7800; Tata Motors, SBI slip
Reliance Industries, ICICI Bank, M&M, Bharti Airtel and Tata Motors were losers while Lupin, HDFC, Axis Bank, Infosys and Sun Pharma were gainers.Equity benchmarks extended losses in afternoon trade with the Sensex falling 149.27 points to 25453.83. The 50-share NSE Nifty declined 44.50 points to 7802.75. The market breadth was weak as about 1372 shares declined against 885 advancing shares on Bombay Stock Exchange.
Europe opens: European stocks traded lower today after declines on Wall Street and the Bank of Japan's (BOJ) decision to stand pat on monetary policy rattled investor sentiment. The pan-European STOXX 600 was down 1.2 percent. Asia markets were mixed on the final trading day of the week, following declines of more than 1 percent in certain US equity indexes, while the yen saw fresh strength against the dollar. Japanese markets are closed on Friday for a public holiday but on Thursday, Japan's Nikkei 225 index tumbled 3.61 percent after the BOJ stood pat on monetary policy, disappointing a section of the market that had anticipated further stimulus. Earnings: ICICI Bank 's fourth quarter profit plunged sharply by 76 percent to Rs 702 crore compared to Rs 2,922.1 crore in year-ago period, impacted by exceptional provisioning. Net interest income, the difference between interest earned and interest expended, grew by 6.4 percent to Rs 5,404.51 crore on yearly basis.
The country's largest private sector lender missed analysts' expectations due to high provisions. According to analysts polled by profit was estimated at Rs 3,115.1 crore (6.6 percent growth YoY) and net interest income at Rs 5,565.2 crore crore (9.6 percent growth YoY) for the quarter. Also read - India to continue growing; like private banks: Macquarie Equity benchmarks continued to see volatile trade with the Nifty hovering around 7850 level. The broader markets, too, were in choppy mood. The 30-share BSE Sensex declined 7.87 points to 25595.23 and the 50-share NSE Nifty slipped 5.45 points to 7841.80. Reliance Industries, ICICI Bank, M&M, Bharti Airtel and Tata Motors were losers while Lupin, HDFC, Axis Bank, Infosys and Sun Pharma were gainers. Asia markets were mostly lower on the final trading day of the week, as investors digested major central banks' decisions to stand pat on their monetary policies. Stateside, the US Federal Reserve opted not to raise interest rates on Wednesday local time, citing a slowdown in economic activity in the country. Then on Thursday, the Bank of Japan (BOJ) unexpectedly kept its policy steady, disappointing a substantial section of the market that was betting on further stimulus
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