News Worms
News Worms

Sensex, Nifty opens in green; ICICI Bank sinks 3%

Sensex, Nifty opens in green; ICICI Bank sinks 3%

The barometer had lost 469.25 points in the previous four sessions, largely because of continued geo-political tensions and rising wave of global protectionism in the form of visa restrictions.

TCS, the country's largest software exporter, on Wednesday fell 0.30 per cent after the company's March quarter profit came in below expectations.

The Indian market ended Thursday in positive territory with BSE Sensex up 85.82 points at 29422.39 and NSE Nifty up 32.90 points at 9136.40.

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The benchmark BSE Sensex index gained 0.06%, or 17.47 points, to 29,336.57, while the broader NSE Nifty 50 index declined 0.02%, or 1.65 points, at 9,103.50.

Meanwhile, foreign portfolio investors (FPIs) net sold shares worth Rs. 673.38 crore during Wednesday's trading session, as per provisional data. "IT stocks' recovery amid rupee giving away some of its gains, lent market support, while European markets' rally ahead of French presidential elections also boosted sentiments", said Anand James, Chief Market Strategist, Geojit Financial Services. Wipro too rose 0.36 per cent to Rs 500.

Shares of private lender Yes Bank, however, plunged 6.50% to Rs 1,501 after the asset quality of the bank slipped in the results declared yesterday.

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Among other Asian markets, Hong Kong's Hang Seng was down 0.72 per cent while Japan's Nikkei shed 0.09 per cent in early trade. IDBI Bank fell 1.5%, Corporation Bank 1.5%, Union Bank 1.1%, Axis Bank fell 1%, Bank of Baroda 0.5%, HDFC Bank 0.5%, ICICI Bank 0.3%, IndusInd Bank 0.3%, State Bank of India 0.3%.

The Nifty is trading at 9,185.40 points in the morning. BSE Midcap and BSE Smallcap indices jumped 0.7 per cent and 1.1 per cent respectively.

Major Sensex losers were: Tata Steel, down 2.55 per cent at Rs 450.25; Coal India, down 2.34 per cent at Rs 279.10; Sun Pharma, down 1.76 per cent at Rs 665.30; Asian Paints, down 1.68 per cent at Rs 1,040.95; and Reliance Industries, down 1.48 per cent at Rs 1,370.45.

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Total income (standalone) of the bank grew 29.4 percent to Rs 5,606.38 crore compared to Rs 4,331.11 crore in the corresponding period a year ago, the bank said in a regulatory filing.


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