Sensex, Nifty end in green; banking shares top losers

Domestic markets closed in green. Sensex ended at 27,308.60, up 50.96 points or 0.19%, while, Nifty at 8,435.10, up 18.10 points or 0.22%. 

Yes Bank shares were trading flat after the bank posted 31% rise in Q3 net profit. The bank registered a net profit of Rs 882.6 as against Rs 675.74 in Q2FY17.

At 1501 hours the shares of the bank were trading at Rs 1350, up 0.27% or Rs 3.70 on BSE.

Emami Ltd was among the top losers during the mid-trading session. At 1336 hours the shares of the company were trading at Rs 1003 per piece, down 2.35% or Rs 24.15 on BSE.

Shares of Ujjivan Financial Services plunged after the company reported nearly 77% drop in Profit after tax on year-on-year basis. The company reported a PAT of Rs 43.9 crore during the quarter ended on December 31 as against Rs 188.3 crore during the same period last year. 

On quarter-on-quarter basis, the net profit dropped by 40%. In the last quarter (Q2FY17), the company's net profit was Rs 73.01 crore. 

At 1316 hours the shares of the company were trading at Rs 353.05 per piece, down 2.63% or Rs 9.55 on BSE.

Shares of D B Corp climbed up after the company reported 6% rise in net profit in Q3FY17. The company posted a net profit of Rs 118.6 crore in Q3FY17 as against Rs 111.4 crore during the same period last year.

At 1234 hours the shares of the company were trading at Rs 358.50 per piece, up 0.74% or Rs 2.65 on BSE. 

Shares of Tata Motors surged after the company on Wednesday launched Tata Hexa priced at Rs 11.99 lakh. At 1204 hours the shares of the company were trading at Rs 533.45 per piece, up 1.97% or Rs 10.30.

Shares of Delta Corp dropped over 2% after the company on Tuesday reported 69% drop in net profit for the quarter ended on December 31. At 1105 hours the shares of the company were trading at Rs 128.80 per piece, down 2.68% or Rs 3.55 on BSE. 

Ahead of Q3 results, at 1052 hours the shares of Axis Bank were trading at Rs 480.95 per piece, down 1.52% or Rs 7.35 on BSE.

Sector-wise, Oil & gas (167.60 points) and Consumer Durables (120.52 points) were top gainers. While Banking shares (-99.09 points) were top losers during early trade. 

Piling on yesterday's loss, the rupee plunged by another 17 paise to 68.25 against the US dollar in early trade today on increased demand for the American currency from importers.

On 30-share benchmark, among top gainers were Adani Ports (1.08%), Bharti Airtel (0.75%), ONGC (0.71%), NTPC (0.64%) and Reliance Industries (0.54%). Among losers were Axis Bank (-0.84%), HDFC (-0.71%), Tata Steel (-0.64%), Mahindra & Mahindra (-0.58%) and TCS (-0.39%). 

Before the announcement of financial results for the quarter ended on December 31, the shares of Axis Bank, at 0930 hours were trading at Rs 484 per piece, down 0.89% or Rs 4.35. 

While, the shares of Yes Bank, which will also announce quarterly results today, the shares of the bank were trading at Rs 1340 per piece, down 0.46% or Rs 6.25 on BSE.

Domestic markets opened flat on Thursday. At 0917 hours Sensex was trading at 27,262.50, up 4.86 points or 0.02%. While, Nifty was trading at 8,412.45, down 455 points or 0.05%. 

Domestic markets opened mixed on Thursday during pre-open market session. Sensex was trading at 27,280.96, up 23.32 points or 0.09%. While Nifty was trading at 8386.45, down 30.55 points or 0.36 %.  

Stocks in Focus: Axis Bank: Shares of Axis Bank will be in focus as the bank is set to announce its financial result for the quarter ended on December 31. 

In the last quarter (Q2FY17), the bank had reported a drop of 83.3% in its net profit. The company posted a net profit of Rs 319.08 crore during the second quarter of the current fiscal as compared to Rs 1915.64 crore, during the same period last year. 

Yes Bank: The private sector bank will be announcing its financial results for Q3FY17. In the last quarter (Q2FY17) the bank had eported standalone net profit of Rs 801.54 crore for the second quarter September 30, 2016 (Q2FY17), registering growth of 31.31% year-on-year (yoy) and 9.52% quarter-on-quarter (qoq). 

Insurance companies: Insurance cos will be in focus as on Wednesday the cabinet had approved the listing of five public sector general insurance companies. The five companies are  New India Assurance ,United India Insurance, Oriental Insurance, National Insurance & General Insurance.

On domestic front, Indiaces likely to open in red on Thursday amid weak gloabl cues. Asian shares dropped after the US Federal Chair Janet Yellen signaled for a rate hike. 

On Wednesday, Sensex closed at 27,257.64, up 21.98 points or 0.08%. While, Nifty ended at 8,417, up 19 points or 0.23%.

The dollar had been grinding lower in recent sessions, dropping to its weakest levels since early December after US President-elect Donald Trump expressed concerns about a stronger greenback, Reuters report said. 

Investors have also remained anxious ahead of Trump's inauguration on Friday, with many using it as an excuse to take some money off the table.

Crude oil prices took back ground lost in the previous session when the dollar strengthened. A stronger dollar makes dollar-denominated commodities more expensive for holders of other currencies.

U.S. crude added 0.7 percent to $51.46 per barrel, after shedding 2.67% on Wednesday.

Asian shares edged lower on Thursday and the dollar rebounded after Federal Reserve Chair Janet Yellen hinted that interest rates in the United States could rise quickly this year, a Reuters report said. 

MSCI's broadest index of Asia-Pacific shares outside Japan inched 0.1% lower in early trade. apan's Nikkei stock index was up 1%, lifted by the weaker yen's tailwind.