Benchmark indices eke out small gains
Amid a divergent trend among various index constituents, key benchmark indices eked out small gains, snapping a four day losing streak. The barometer index, the S&P BSE Sensex, rose 34.29 points or 0.15% to settle at 22,986.12. The 50-unit Nifty 50 index rose 4.60 points or 0.07% to settle at 6,980.95. The two key benchmark indices witnessed high intraday volatility. The Sensex ended below the psychologically important 23,000 mark after flirting with that level in intraday trade. The Nifty ended below the psychologically important 7,000 mark after flirting with that level in intraday trade.
State-run Bharat Heavy Electricals tumbled after the company reported loss in Q3 December 2015 against profit during the corresponding previous year quarter. ONGC edged lower after reporting weak Q3 results. Tata Motors bounced back on bargain hunting after recent steep slide. Mahindra & Mahindra edged higher in volatile trade after announcing good Q3 results.
In overseas stock markets, European stocks edged higher, rebounding from previous session's steep losses, with encouraging results from Commerzbank and a rally in oil prices helping banks and commodity-related stocks to regain ground. Earlier during the global day, most Asian stocks fell as investors continued to dump riskier assets. In Japan, the Nikkei 225 Average tumbled 4.84%, catching up with selloff in the region during the previous trading session. The Japanese market was closed for a holiday yesterday, 11 February 2016. In the US, the Dow Jones Industrial Average and S&P 500 rang up their fifth losing day in a row yesterday, 11 February 2016, falling amid a global rout led by tumbling oil prices and losses in financial stocks.
The Sensex rose 34.29 points or 0.15% to settle at 22,986.12, its highest closing level since 10 February 2016. The index fell 351.44 points or 1.53% at the day's low of 22,600.39. The barometer index rose 209.32 points, or 0.91% at the day's high of 23,161.15.
The Nifty 50 index rose 4.60 points or 0.07% to settle at 6,980.95, its highest closing level since 10 February 2016. The index fell 107.35 points or 1.53% at the day's low of 6,869. The index rose 58.45 points or 0.84% at the day's high of 7,034.80.
The broad market depicted weakness. There were almost two losers against every gainer on BSE. 1,702 shares fell and 881 shares rose. A total of 130 shares were unchanged. The BSE Mid-Cap index fell 0.78%. The BSE Small-Cap index provisionally fell 1.21%. Both these indices underperformed the Sensex.
The total turnover on BSE amounted to Rs 3566 crore, higher than turnover of Rs 2972.11 crore registered during the previous trading session.
Among sectoral indices on BSE, the S&P BSE Capital Goods index (down 3.05%), the S&P BSE Oil & Gas index (down 2.47%), the S&P BSE Energy index (down 1.95%), the S&P BSE Realty index (down 1.26%), the S&P BSE Metal index (down 1.25%), the S&P BSE Industrials index (down 0.86%), the S&P BSE Healthcare index (down 0.77%), the S&P BSE Basic Materials index (down 0.61%), the S&P BSE Power index (down 0.24%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.23%), the S&P BSE Bankex (down 0.22%), the S&P BSE Consumer Durables index (down 0.12%) and the S&P BSE Finance index (down 0.04%), underperformed the Sensex. The S&P BSE IT index (up 0.25%), the S&P BSE FMCG index (up 0.39%), the S&P BSE Utilities index (up 0.61%), the S&P BSE Teck index (up 1.02%), the S&P BSE Auto index (up 1.72%) and the S&P BSE Telecom index (up 5.56%) outperformed the Sensex.
Cairn India rose 3.94% to Rs 118.70. The stock hit a high of Rs 119.30 and a low of Rs 111.20 in intraday trade.
Vedanta rose 1.52% to Rs 63.30 on bargain hunting after falling 15.57% in the preceding four trading sessions to settle at Rs 62.35 yesterday, 11 February 2016, from its close of Rs 73.85 on 5 February 2016. The stock hit a high of Rs 64.65 and a low of Rs 58.10 in intraday trade.
Adani Ports and Special Economic Zone fell 5.20% to Rs 178.70. The company's consolidated net profit rose 25.95% to Rs 644.96 crore on 11.27% increase in total income to Rs 1895.75 crore in Q3 December 2015 over Q3 December 2014.
Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) excluding other income rose 15% to Rs 1071 crore in Q3 December 2015 over Q3 December 2014. EBITDA margin improved to 62% in Q3 December 2015 from 60% in Q3 December 2014. The result was announced during trading hours today, 12 February 2016.
ONGC fell 4.56% to Rs 193.55 after the company reported weak Q3 results. The stock was volatile. The scrip hit a high of Rs 201.05 and a low of Rs 188 in intraday trade. The company's net profit fell 63.98% to Rs 1286 crore on 2.28% decline in gross revenue to Rs 18547 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 11 February 2016. There was no subsidy sharing burden for ONGC in Q3 December 2015 as against a subsidy sharing burden of Rs 9458 crore in Q3 December 2014 towards sharing of under recoveries of downstream oil marketing companies. ONGC said it is awaiting a letter from the central government in this regard. ONGC said it has assessed the indications of significant impairment as at 31 December 2015 due to fall in crude oil prices in the international market, and accordingly it has tested its cash generating units for the impairment. As a result, an amount of Rs 3994 crore has been provided as impairment loss and shown as exceptional items in the company's profit & loss statement in Q3 December 2015.
PSU banks were mixed. Union Bank of India (down 7.28%), UCO Bank (down 5.79%), Allahabad Bank (down 3.85%), Bank of Maharashtra (down 3.74%), Punjab National Bank (down 3.58%), Vijaya Bank (down 3.11%), Andhra Bank (down 3.01%), Dena Bank (down 2.3%), Bank of Baroda (down 1.38%), Syndicate Bank (down 0.95%) and Bank of India (down 0.53%), edged lower. State Bank of India (up 0.49%), Canara Bank (up 0.14%), IDBI Bank (up 0.19%), Punjab and Sind Bank (up 2.34%), United Bank of India (up 2.35%), Corporation Bank (up 2.39%) and Indian Bank (up 3.99%), edged higher.
Private sector banks were mixed. ICICI Bank (down 2.58%), Federal Bank (down 1.49%), Kotak Mahindra Bank (down 0.99%) and HDFC Bank (down 0.28%) edged lower. IndusInd Bank (up 0.54%), City Union Bank (up 0.60%), Yes Bank (up 1.84%) and Axis Bank (up 3.52%) edged higher.
The Reserve Bank of India (RBI) has eased the requirements for commercial banks to meet liquidity coverage ratios under Basel III. Commercial banks will be permitted to reckon government securities held by them up to another 3 per cent of their NDTL under FALLCR (Facility to Avail Liquidity for Liquidity Coverage Ratio) within the mandatory SLR requirement as level 1 High Quality Liquid Assets for the purpose of computing their Liquidity Coverage Ratio (LCR). Hence the total carve-out from SLR available to banks would be 10% of their NDTL, according a notification issued by the central bank. In a separate announcement, the central bank also assured money market that it will provide liquidity support to the banking system next month due the expected tightening of liquidity conditions on account of advance tax payments by corporates and in order to provide flexibility to the banking system in its liquidity management for year-end considerations.
Meanwhile, RBI Governor Raghuram Rajan speaking at CII's Banking Summit in Mumbai assured financial markets that the problem of sticky loans in the banking sector is manageable. He said that according to the central bank's estimates, the amount of already indicated capital infusion support from the government for public sector banks will be sufficient. Any breach of minimum core capital requirements by a small minority of public sector banks, in the absence of any recapitalization, will be small, Rajan said yesterday, 11 February 2016. This small minority of public sector banks will need government equity or preference share infusion since they are typically banks that will find it difficult to raise equity in the markets, he said. Rajan further said that as per RBI's estimates, private sector banks will not require additional regulatory capital as a result of the ongoing asset quality review of India's commercial banks being conducted by RBI.
Telecom major Bharti Airtel rose 5.40% to Rs 325.25. The stock hit a high of Rs 329.10 and a low of Rs 308 in intraday trade.
Another telecom firm Idea Cellular rose 9.07% to Rs 110. The stock hit a high of Rs 111.25 and a low of Rs 101 in intraday trade.
However, Reliance Communications (RCom) fell 2.69% to Rs 50.70. The stock hit a high of Rs 52.90 and a low of Rs 48.60 in intraday trade.
Pharma major Sun Pharmaceutical Industries rose 2.09% to Rs 848.35 after the company announced Q3 results. The stock hit a high of Rs 884.25 and a low of Rs 803.55 in intraday trade. The company's consolidated net profit surged 258.33% to Rs 1416.60 crore on 6.50% increase in total income to Rs 7301.31 crore in Q3 December 2015 over Q3 December 2014. Sun Pharma's bottom line was boosted by a sharp fall in tax outgo during the quarter. Tax expenses fell 80.36% to Rs 202.03 crore in Q3 December 2015 over Q3 December 2014. The company reported a non-operational income (other income) of Rs 219.20 crore in Q3 December 2015 as against non-operational expenses of Rs 76.51 crore in Q3 December 2014 which include impact of foreign exchange transactions. The result was announced during trading hours today, 12 February 2016.
Tata Motors rose 8.34% to Rs 298.65, with the stock rising on bargain hunting after recent steep slide. The stock had declined 5.55% to settle at Rs 275.65 yesterday, 11 February 2016, in the wake of the announcement of Q3 December 2015 results. Tata Motors' consolidated net profit fell 2.04% to Rs 3507.54 crore on 2.84% growth in total income to Rs 72437.02 crore in Q3 December 2015 over Q3 December 2014. The result was announced at the fag end of trading session yesterday, 11 February 2016.
The revenue rose in Q3 December 2015 on account of strong sales of its luxury car unit, Jaguar Land Rover in the UK, Europe, North America and other overseas markets which helped in partially offsetting lower sales in China and weaker model mix. Tata Motors' consolidated profit before tax (PBT) fell 27.14% to Rs 4176 crore in Q3 December 2015 over Q3 December 2014. PBT was lower due to weaker sales mix (both model and market), higher depreciation and amortization expenses, non recurrence of an annual China tax rebate, and other items in the Jaguar Land Rover business. Tata Motors' tax expense fell sharply during the quarter. Tax expense declined 69.57% to Rs 651.28 crore in Q3 December 2015 over Q3 December 2014.
Mahindra & Mahindra (M&M) edged higher in volatile trade after announcing good Q3 results. The stock rose 3.77% at Rs 1,168.40. The stock hit a high of Rs 1,178.90 and a low of Rs 1,092 in intraday trade. M&M's profit after tax (PAT) excluding exceptional items rose 16% to Rs 745 crore in Q3 December 2015 over Q3 December 2014. Gross revenue plus other income rose 17% to Rs 11697 crore in Q3 December 2015 over Q3 December 2014. There was a sharp increase in M&M's tax outgo during the quarter. Tax expense surged 58.38% to Rs 250.15 crore in Q3 December 2015 over Q3 December 2014. The result was announced during market hours today, 12 February 2016.
The combined profit after tax of M&M and Mahindra Vehicle Manufacturers (MVML) excluding exceptional item rose 23% to Rs 821 crore on 17% growth in gross revenue plus other income to Rs 11570 crore in Q3 December 2015 over Q3 December 2014. MVML, was set up as a 100% subsidiary of M&M with a view to sourcing contemporary products for expanding the market offerings of the company.
Separately, M&M during market hours today, 12 February 2016, said that its board of directors approved the transfer of its agri business to its 100% subsidiary Mahindra Shubhlabh Services (MSSL). Dr Pawan Goenka, Executive Director of M&M said that the company's agri business has reached a critical mass now and this new entity would provide an opportunity to fully leverage the potential that these businesses offer and thus, function as an end-to-end provider in the agri value chain.
State-run Bharat Heavy Electricals (Bhel) lost 13.13% to Rs 104.55 after the company reported net loss of Rs 1101.99 crore in Q3 December 2015 compared with net profit of Rs 212.60 crore in Q3 December 2014. Total income declined 15.1% to Rs 5496.13 crore in Q3 December 2015 over Q3 December 2014. The company has an outstanding order book position of about Rs 1.09 lakh crore as on 31 December 2015. Orders worth Rs 3646 crore have been excluded from the order outstanding which are not likely to commence and this has no impact on revenue, Bhel said. The result was announced after market hours yesterday, 11 February 2016.
The Sensex and the Nifty snapped a four day losing streak. The Sensex fell 1,665.14 points or 6.76% in the preceding four trading sessions to settle at 22,951.83 yesterday, 11 February 2016, from its close of 24,616.97 on 5 February 2016. The barometer index has fallen 1,884.57 points or 7.58% in this month so far (till 12 February 2016). The Sensex has fallen 3,131.42 points or 11.99% in calendar year 2016 so far (till 12 February 2016). The Sensex is off 7,038.62 points or 23.44% from a record high of 30,024.74 hit on 4 March 2015.
State-run Bharat Heavy Electricals tumbled after the company reported loss in Q3 December 2015 against profit during the corresponding previous year quarter. ONGC edged lower after reporting weak Q3 results. Tata Motors bounced back on bargain hunting after recent steep slide. Mahindra & Mahindra edged higher in volatile trade after announcing good Q3 results.
In overseas stock markets, European stocks edged higher, rebounding from previous session's steep losses, with encouraging results from Commerzbank and a rally in oil prices helping banks and commodity-related stocks to regain ground. Earlier during the global day, most Asian stocks fell as investors continued to dump riskier assets. In Japan, the Nikkei 225 Average tumbled 4.84%, catching up with selloff in the region during the previous trading session. The Japanese market was closed for a holiday yesterday, 11 February 2016. In the US, the Dow Jones Industrial Average and S&P 500 rang up their fifth losing day in a row yesterday, 11 February 2016, falling amid a global rout led by tumbling oil prices and losses in financial stocks.
The Sensex rose 34.29 points or 0.15% to settle at 22,986.12, its highest closing level since 10 February 2016. The index fell 351.44 points or 1.53% at the day's low of 22,600.39. The barometer index rose 209.32 points, or 0.91% at the day's high of 23,161.15.
The Nifty 50 index rose 4.60 points or 0.07% to settle at 6,980.95, its highest closing level since 10 February 2016. The index fell 107.35 points or 1.53% at the day's low of 6,869. The index rose 58.45 points or 0.84% at the day's high of 7,034.80.
The broad market depicted weakness. There were almost two losers against every gainer on BSE. 1,702 shares fell and 881 shares rose. A total of 130 shares were unchanged. The BSE Mid-Cap index fell 0.78%. The BSE Small-Cap index provisionally fell 1.21%. Both these indices underperformed the Sensex.
The total turnover on BSE amounted to Rs 3566 crore, higher than turnover of Rs 2972.11 crore registered during the previous trading session.
Among sectoral indices on BSE, the S&P BSE Capital Goods index (down 3.05%), the S&P BSE Oil & Gas index (down 2.47%), the S&P BSE Energy index (down 1.95%), the S&P BSE Realty index (down 1.26%), the S&P BSE Metal index (down 1.25%), the S&P BSE Industrials index (down 0.86%), the S&P BSE Healthcare index (down 0.77%), the S&P BSE Basic Materials index (down 0.61%), the S&P BSE Power index (down 0.24%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.23%), the S&P BSE Bankex (down 0.22%), the S&P BSE Consumer Durables index (down 0.12%) and the S&P BSE Finance index (down 0.04%), underperformed the Sensex. The S&P BSE IT index (up 0.25%), the S&P BSE FMCG index (up 0.39%), the S&P BSE Utilities index (up 0.61%), the S&P BSE Teck index (up 1.02%), the S&P BSE Auto index (up 1.72%) and the S&P BSE Telecom index (up 5.56%) outperformed the Sensex.
Cairn India rose 3.94% to Rs 118.70. The stock hit a high of Rs 119.30 and a low of Rs 111.20 in intraday trade.
Vedanta rose 1.52% to Rs 63.30 on bargain hunting after falling 15.57% in the preceding four trading sessions to settle at Rs 62.35 yesterday, 11 February 2016, from its close of Rs 73.85 on 5 February 2016. The stock hit a high of Rs 64.65 and a low of Rs 58.10 in intraday trade.
Adani Ports and Special Economic Zone fell 5.20% to Rs 178.70. The company's consolidated net profit rose 25.95% to Rs 644.96 crore on 11.27% increase in total income to Rs 1895.75 crore in Q3 December 2015 over Q3 December 2014.
Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) excluding other income rose 15% to Rs 1071 crore in Q3 December 2015 over Q3 December 2014. EBITDA margin improved to 62% in Q3 December 2015 from 60% in Q3 December 2014. The result was announced during trading hours today, 12 February 2016.
ONGC fell 4.56% to Rs 193.55 after the company reported weak Q3 results. The stock was volatile. The scrip hit a high of Rs 201.05 and a low of Rs 188 in intraday trade. The company's net profit fell 63.98% to Rs 1286 crore on 2.28% decline in gross revenue to Rs 18547 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 11 February 2016. There was no subsidy sharing burden for ONGC in Q3 December 2015 as against a subsidy sharing burden of Rs 9458 crore in Q3 December 2014 towards sharing of under recoveries of downstream oil marketing companies. ONGC said it is awaiting a letter from the central government in this regard. ONGC said it has assessed the indications of significant impairment as at 31 December 2015 due to fall in crude oil prices in the international market, and accordingly it has tested its cash generating units for the impairment. As a result, an amount of Rs 3994 crore has been provided as impairment loss and shown as exceptional items in the company's profit & loss statement in Q3 December 2015.
PSU banks were mixed. Union Bank of India (down 7.28%), UCO Bank (down 5.79%), Allahabad Bank (down 3.85%), Bank of Maharashtra (down 3.74%), Punjab National Bank (down 3.58%), Vijaya Bank (down 3.11%), Andhra Bank (down 3.01%), Dena Bank (down 2.3%), Bank of Baroda (down 1.38%), Syndicate Bank (down 0.95%) and Bank of India (down 0.53%), edged lower. State Bank of India (up 0.49%), Canara Bank (up 0.14%), IDBI Bank (up 0.19%), Punjab and Sind Bank (up 2.34%), United Bank of India (up 2.35%), Corporation Bank (up 2.39%) and Indian Bank (up 3.99%), edged higher.
Private sector banks were mixed. ICICI Bank (down 2.58%), Federal Bank (down 1.49%), Kotak Mahindra Bank (down 0.99%) and HDFC Bank (down 0.28%) edged lower. IndusInd Bank (up 0.54%), City Union Bank (up 0.60%), Yes Bank (up 1.84%) and Axis Bank (up 3.52%) edged higher.
The Reserve Bank of India (RBI) has eased the requirements for commercial banks to meet liquidity coverage ratios under Basel III. Commercial banks will be permitted to reckon government securities held by them up to another 3 per cent of their NDTL under FALLCR (Facility to Avail Liquidity for Liquidity Coverage Ratio) within the mandatory SLR requirement as level 1 High Quality Liquid Assets for the purpose of computing their Liquidity Coverage Ratio (LCR). Hence the total carve-out from SLR available to banks would be 10% of their NDTL, according a notification issued by the central bank. In a separate announcement, the central bank also assured money market that it will provide liquidity support to the banking system next month due the expected tightening of liquidity conditions on account of advance tax payments by corporates and in order to provide flexibility to the banking system in its liquidity management for year-end considerations.
Meanwhile, RBI Governor Raghuram Rajan speaking at CII's Banking Summit in Mumbai assured financial markets that the problem of sticky loans in the banking sector is manageable. He said that according to the central bank's estimates, the amount of already indicated capital infusion support from the government for public sector banks will be sufficient. Any breach of minimum core capital requirements by a small minority of public sector banks, in the absence of any recapitalization, will be small, Rajan said yesterday, 11 February 2016. This small minority of public sector banks will need government equity or preference share infusion since they are typically banks that will find it difficult to raise equity in the markets, he said. Rajan further said that as per RBI's estimates, private sector banks will not require additional regulatory capital as a result of the ongoing asset quality review of India's commercial banks being conducted by RBI.
Telecom major Bharti Airtel rose 5.40% to Rs 325.25. The stock hit a high of Rs 329.10 and a low of Rs 308 in intraday trade.
Another telecom firm Idea Cellular rose 9.07% to Rs 110. The stock hit a high of Rs 111.25 and a low of Rs 101 in intraday trade.
However, Reliance Communications (RCom) fell 2.69% to Rs 50.70. The stock hit a high of Rs 52.90 and a low of Rs 48.60 in intraday trade.
Pharma major Sun Pharmaceutical Industries rose 2.09% to Rs 848.35 after the company announced Q3 results. The stock hit a high of Rs 884.25 and a low of Rs 803.55 in intraday trade. The company's consolidated net profit surged 258.33% to Rs 1416.60 crore on 6.50% increase in total income to Rs 7301.31 crore in Q3 December 2015 over Q3 December 2014. Sun Pharma's bottom line was boosted by a sharp fall in tax outgo during the quarter. Tax expenses fell 80.36% to Rs 202.03 crore in Q3 December 2015 over Q3 December 2014. The company reported a non-operational income (other income) of Rs 219.20 crore in Q3 December 2015 as against non-operational expenses of Rs 76.51 crore in Q3 December 2014 which include impact of foreign exchange transactions. The result was announced during trading hours today, 12 February 2016.
Tata Motors rose 8.34% to Rs 298.65, with the stock rising on bargain hunting after recent steep slide. The stock had declined 5.55% to settle at Rs 275.65 yesterday, 11 February 2016, in the wake of the announcement of Q3 December 2015 results. Tata Motors' consolidated net profit fell 2.04% to Rs 3507.54 crore on 2.84% growth in total income to Rs 72437.02 crore in Q3 December 2015 over Q3 December 2014. The result was announced at the fag end of trading session yesterday, 11 February 2016.
The revenue rose in Q3 December 2015 on account of strong sales of its luxury car unit, Jaguar Land Rover in the UK, Europe, North America and other overseas markets which helped in partially offsetting lower sales in China and weaker model mix. Tata Motors' consolidated profit before tax (PBT) fell 27.14% to Rs 4176 crore in Q3 December 2015 over Q3 December 2014. PBT was lower due to weaker sales mix (both model and market), higher depreciation and amortization expenses, non recurrence of an annual China tax rebate, and other items in the Jaguar Land Rover business. Tata Motors' tax expense fell sharply during the quarter. Tax expense declined 69.57% to Rs 651.28 crore in Q3 December 2015 over Q3 December 2014.
Mahindra & Mahindra (M&M) edged higher in volatile trade after announcing good Q3 results. The stock rose 3.77% at Rs 1,168.40. The stock hit a high of Rs 1,178.90 and a low of Rs 1,092 in intraday trade. M&M's profit after tax (PAT) excluding exceptional items rose 16% to Rs 745 crore in Q3 December 2015 over Q3 December 2014. Gross revenue plus other income rose 17% to Rs 11697 crore in Q3 December 2015 over Q3 December 2014. There was a sharp increase in M&M's tax outgo during the quarter. Tax expense surged 58.38% to Rs 250.15 crore in Q3 December 2015 over Q3 December 2014. The result was announced during market hours today, 12 February 2016.
The combined profit after tax of M&M and Mahindra Vehicle Manufacturers (MVML) excluding exceptional item rose 23% to Rs 821 crore on 17% growth in gross revenue plus other income to Rs 11570 crore in Q3 December 2015 over Q3 December 2014. MVML, was set up as a 100% subsidiary of M&M with a view to sourcing contemporary products for expanding the market offerings of the company.
Separately, M&M during market hours today, 12 February 2016, said that its board of directors approved the transfer of its agri business to its 100% subsidiary Mahindra Shubhlabh Services (MSSL). Dr Pawan Goenka, Executive Director of M&M said that the company's agri business has reached a critical mass now and this new entity would provide an opportunity to fully leverage the potential that these businesses offer and thus, function as an end-to-end provider in the agri value chain.
State-run Bharat Heavy Electricals (Bhel) lost 13.13% to Rs 104.55 after the company reported net loss of Rs 1101.99 crore in Q3 December 2015 compared with net profit of Rs 212.60 crore in Q3 December 2014. Total income declined 15.1% to Rs 5496.13 crore in Q3 December 2015 over Q3 December 2014. The company has an outstanding order book position of about Rs 1.09 lakh crore as on 31 December 2015. Orders worth Rs 3646 crore have been excluded from the order outstanding which are not likely to commence and this has no impact on revenue, Bhel said. The result was announced after market hours yesterday, 11 February 2016.
The Sensex and the Nifty snapped a four day losing streak. The Sensex fell 1,665.14 points or 6.76% in the preceding four trading sessions to settle at 22,951.83 yesterday, 11 February 2016, from its close of 24,616.97 on 5 February 2016. The barometer index has fallen 1,884.57 points or 7.58% in this month so far (till 12 February 2016). The Sensex has fallen 3,131.42 points or 11.99% in calendar year 2016 so far (till 12 February 2016). The Sensex is off 7,038.62 points or 23.44% from a record high of 30,024.74 hit on 4 March 2015.
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