Bank of India posts net loss of Rs 1,156.2 crore in Q2; NPA ratios improve

BOI reported a net loss of Rs 1,156.25 crore for the September quarter. The figure cannot be compared with that of last year as the bank had reported a net profit of Rs 179.07 crore during Q2 of FY18.

The net interest income saw marginal 0.6 percent growth year on year to Rs 2,927 crore from Rs 2,908 crore last year.

On the asset quality front, the gross non-performing assets (NPAs) ratio fell to 16.36 percent from 16.66 percent in the previous quarter. The net NPA ratio, too, fell to 7.64 percent, down from 8.45 percent during the June quarter

The amount of gross NPAs stood at Rs 61,560.65 crore against Rs 60,604.46 crore in the previous quarter. The net NPAs stood at Rs 25,994.1 crore against Rs 27,932.25 crore in the last quarter.

The lender reported provision of Rs 3,343 crore, a rise from Rs 2,564 crore during the previous quarter. Meanwhile, its provision coverage ratio stood at 69.12 percent against 66.7 percent last quarter.

The stock has risen over 16 percent in the past one month, while in the past three days, it rose 2 percent. At the close of market hours on Monday, Bank of India quoting at Rs 87.25, down Rs 4.45, or 4.85 percent, on the BSE. It touched an intraday high of Rs 92.65 and an intraday low of Rs 86.05.

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Closing Bell: Last-hour selling drags Sensex lower by 345 points, Nifty ends below 10,500

Market at close: The market ended on the negative note on Monday with Nifty slipped below 10,500 level.

Midcap and smallcap has performed in line with the major indices. Among the sector, automobiles, PSU bank were down more than 2 percent, while metal, pharma, infra and energy stocks were among the major losers.

HPCL, Tata Motors, IOC, Bajaj Finance and Hindalco Industries lost the most.

The Sensex ended down 345.56 points at 34,812.99, while Nifty was down 103 points at 10482.20. About 1068 shares have advanced, 1527 shares declined, and 154 shares are unchanged. 

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Source:https://www.moneycontrol.com/news/business/markets/closing-bell-last-hour-selling-drags-sensex-lower-by-345-points-nifty-ends-below-10500-3148241.html

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Opening Bell

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Sensex gives up some gains, Nifty holds 10,600; Tata Motors down 2%

Market opens Indices have seen a positive start on Monday morning, with the Sensex rising over 100 points, while the Nifty rose above 10,600.

Among sectors, IT, banks, pharmaceuticals and automobiles are in the green. The Nifty Midcap index is up quarter of a percent.  

The Sensex is up 103.65 points or 0.29% at 35262.20, while the Nifty is higher by 29.30 points or 0.28% at 10614.50. The market breadth is positive as 408 shares advanced, against a decline of 126 shares, while 38 shares were unchanged.

Shares of Yes Bank, Bharti Airtel, HCL Tech and Cipla are the top gainers, while Tata Motors and HPCL have lost the most. 

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Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-gives-up-some-gains-nifty-holds-10600-tata-motors-down-2-3148241.html

Market ends off day’s high as Sensex gains 579 pts, Nifty above 10,550; indices up 5% for week

Markets at close: Sensex ended the day at 35,011, surging 579 points or 1.68 percent, whereas the Nifty jumped 172 points to close at 10,553, 1.66 percent higher than the previous day. Both benchmark indices closed the week 5 percent higher.

Auto, Banks and FMCG ended the day higher. Nifty Auto surged 4.15 percent, Nifty Bank gained 4.49 percent and Nifty FMCG jumped 1.7 percent. The corresponding sectoral indices on the BSE gained 4.05 percent, 1.42 percent and 1.52 percent, respectively.

Sectoral indices for IT, Pharma and PSU banks closed the day in the red. 

The biggest gainer on Sensex were Maruti Suzuki which gained 6.4 percent, Tata Motors which spiked 6.3 percent and Vedanta which jumped 6 percent. IT majors Wipro, TCS and Infosys were biggest losers.

The biggest gainers on Nifty were BPCL (6.2 percent), Maruti Suzuki (6.3 percent), Vedanta (6.2%), Tata Motors (6 percent) and IndusInd Bank (5.3 percent). Among the biggest losers on the index were Tech Mahindra, Wipro and Dr Reddy’s Lab.

The 'Muhurat' trading, which is conducted on the auspicious occasion of Diwali, will be held between 1700 hours and 1830 hours on November 7, the stock exchanges said.

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Source:https://www.moneycontrol.com/news/business/markets/market-ends-off-days-high-as-sensex-gains-579-pts-nifty-above-10550-indices-up-5-for-week-3119841.html

Closing Bell

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