Axis Bank shares tumble over 9% after Q2 earnings

Angelica Greene
October 19, 2017

At 10.26 am the benchmark index was trading at 32,488 points, down 120 points or 0.37 per cent. Shares of Kotak Mahindra Bank, Reliance Industries, Power Grid, and ONGC were the major gainers apart from Wipro, advanced up to 1.26% on BSE. The benchmark Sensex slipped 128.97 points to hit the day's low of 32,480.19 points while the broader Nifty tripped 44.75 points to mark the day's low of 10,189.7 points. ICICI Bank, Yes Bank, SBI also fell between 2.5-4 per cent.

Sector-wise, the S&P BSE oil and gas index surged by 195.76 points, followed by energy index by 102.65 points and utilities index by 28.05 points. The 50-share Nifty fell by 23.60 points or 0.23 per cent to close at 10,210.85 after moving between 10,175.75 and 10,236.45.

Brokers said sentiment turned bearish on unabated foreign fund outflows and lower-than-expected Q2 earnings by some bluechip companies amid profit-booking in recent gainers. The BSE and NSE will conduct a special Muhurat trading session on Thursday between 18.30 hrs and 19.30 hrs on the occasion of Diwali. The private sector lender yesterday reported a almost 36 per cent increase in net profit at Rs 432 crore in the second quarter ended September, but reported a rise in bad loans. The bank posted a 38 per cent rise in September quarter net profit at Rs 432 crore on low base effect.

Investors were cautious with Wednesday being the last session of Hindu Samvat Year 2073.

Chrome Cleanup Tool only Prevents Software Unwanted by Google
Working with detection-focused IT security company ESET, the new version of Cleanup will catch and remove more unwanted software. A quick easy way for Chrome Windows users to perform cleanups and stay safer online. .

Murky Timeline is a Focus of Las Vegas Shooting Probe
Schuck, the building engineer, said he had just rounded the corner when he noticed Campos and started to hear the gunfire. The Mandalay Bay security guard who first encountered the Route 91 shooter will be on the Ellen Degeneres show today.

Dallas to host 2018 National Football League draft after one year in Philadelphia
He's since been inducted into the Pro Football Hall of Fame and now gets to host the NFL's second-largest event in "Jerry World". The Auditorium Threatre downtown hosted the 2015 and 2016 drafts after it moved from New York City, its home since 1965.

The 30-scrip Sensitive Index (Sensex) closed 24.81 points or 0.08 per cent lower during the day's trade. In the Asian region, Japan's Nikkei ended 0.38 per cent higher, while Hong Kong's Hang Seng rose 0.02 per cent.

Axis Bank contributed to most of the losses on the NSE index, and also led the losers on the NSE Bank index, which shed about 1.34 per cent. The Dow Jones Industrial Average rose 40.48 points or 0.18% to end at 22,997.44, a record closing high.

Newsletter has been successfully subscribed.

Other reports by GizPress

Discuss This Article