December 25, 2024 07:27 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Azerbaijan Airlines passenger plane enroute to Russia with over 70 people onboard crashes in Kazakhstan | Atishi will be arrested in fake case, claims Arvind Kejriwal after Delhi govt disowns health and women's schemes | Delhi govt departments disown Arvind Kejriwal's major poll promises, AAP chief reacts | 'Our nation will always be grateful to him': PM Modi writes article in tribute to Atal Bihari Vajpayee on his birth centenary | Syria: Christmas tree set on fire by suspected 'Islamists', Christians protest | Pakistan strikes TTP camps in Afghanistan, Taliban government claims civilians killed | Former home secy Ajay Kumar Bhalla appointed Manipur Guv amid ethnic violence resurgence | Five soldiers killed, several injured as Army truck falls into Poonch gorge | Allu Arjun quizzed by police in Pushpa 2 stampede case | Wanted Indian drug smuggler killed in the US

Indian benchmark indices close on record high on Monday

| | Jul 25, 2017, at 01:41 am
Mumbai, Jul 24 (IBNS): The Indian market closed on a record high on Monday with the BSE Sensex up 216.98 points at 32,245.87 and the NSE Nifty up 51.15 points at 9,966.40.

Although global markets remained weak, domestic leaders such as Reliance Industries and ITC, and HDFC Bank earnings seemed to have held up the Indian market, media reports said.

HDFC Bank, India's second largest private sector lender, announced its results as of June, 2017 (Q1) on Monday where the it reported that Net interest income increased 20.4 per cent to Rs 9,370.4 crore from Rs 7,781.44 crore from the same quarter a year ago.

Compared to the year-ago quarter, profit grew by 20.2 percent to Rs 3,893.84 crore despite sharp rise in provisions.

The Bank reported that of its CASA deposits,  saving account deposits growing by 26.5 percent and current account deposits rising by 34.1 percent YoY.

Although the market was initially taken aback by the asset quality correction but the stock price shot up as HDFC Bank reported that the rise in asset quality was due to farm loan waiver announced by states in June, media reports said.

Key gainers on Monday were Bharti Airtel, Reliance, Wipro, HDFC Bank, Adani Ports and TCS while Dr Reddy's Labs, Vedanta, Axis Bank, Tata Steel, Sun Pharma and ONGC declined.

 

Image:Wikimedia Commons

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.