Arab Today, arab today indian shares gain on strong company results
Last Updated : GMT 15:16:41
Arab Today, arab today
Arab Today, arab today

Indian shares gain on strong company results

Arab Today, arab today

Arab Today, arab today Indian shares gain on strong company results

Mumbai - Arabstoday

India\'s main index recovered from its lowest intraday level since January 9 to gain yesterday after stronger-than-expected earnings from State Bank of India (SBI) relieved concerns about non-performing assets and credit growth in the lending sector. The earnings from India\'s biggest bank offset a day of continued global risk aversion that pummelled Asian shares, but were not enough to prevent the BSE index from posting its fourth consecutive weekly loss. Analysts said the gains yesterday would prove temporary, and that concerns about global markets, as well as about India\'s economic and fiscal challenges would soon dominate trade. Slowing policy reforms from the government have also been a key concern for investors, and have contributed to send the rupee to its third consecutive daily record low against the dollar yesterday. \"Changes on the policy front are required and I don\'t expect that to happen ... and therefore markets may go to December lows because of deteriorating macro conditions\" said Sandeep Bharadwaj, head India Equities at brokerage Derivium Tradition. The 30-share BSE index gained 0.5 per cent to 16,152.75 after earlier falling as much as 1.6 per cent to four-month lows, and not far from levels in December when Indian markets were also hit hard by global as well as domestic factors. India\'s main index fell 0.86 per cent for the week. The 50-share NSE index added 0.44 per cent to end at 4,891.45 yesterday. SBI rose 5 per cent and was among the day\'s big gainers after it reported net profit surged to Rs40.50 billion (Dh2.79 billion) for the January-March quarter from a small profit a year earlier. Analysts were particularly heartened after SBI set aside Rs28.4 billion for bad loans in the March quarter, nearly 13 per cent less than in the same period a year earlier. SBI\'s gains pushed up other banks as ICICI Bank, the country\'s biggest private lender, rose 2.3 per cent. Shares of airlines surged as the steep falls in crude oil prices helped offset worries that a dropping rupee would raise the cost of fuel imports. Jet Airways rose 6.3 per cent while Spicejet ended 8.7 per cent higher. Mahindra Satyam gained 5.7 per cent after reporting swinging to a better-than-expected profit of Rs5.34 billion in January-March from a loss of Rs3.27 billion in the same period last year. But some blue chips extended a rout, with shares in Tata Motors down 4.15 per cent on continued worries about global sales after it reported flat growth in April, shedding 12.64 per cent for the week. India\'s auto shares were the biggest losers last week with the auto index down 5.6 per cent.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indian shares gain on strong company results Arab Today, arab today indian shares gain on strong company results

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday