The initial 10 days of May are not good for the Indian stock market. During this, trade held for only 7 days, and every day the market closed on the red mark. If you look at these ten days business, between May 2 and May 10, the Sensex has lost more than 1500 points. While the nifty rolled down by 500 points.
Let us tell you that the market was closed because of Labor Day on 1 May. On the 4th and the 5th of May, the stock market remained closed due to Saturday-Sunday. On the last trading day of this week, the Sensex closed 96 points down at 37,463, while the Nifty slipped 22.90 points to 11,278.90.
Tata Steel shares fall 6%
At the end of the trading on Friday, shares of Tata Steel broke more than 6 percent, while HCL and Yes Bank's shares closed down 4.34 per cent and 3.70 percent respectively. Similarly, IndusInd Bank slipped 2.96 per cent and ONGC by 1.74 percent.
Besides, shares of Bajaj Finance, TCS, Power Grid, Vedanta, Asian Paint, NTPC and Hero MotoCorp closed on the red mark. Speaking on the rise in stocks, SBI and Bharti Airtel saw their stocks rise more than 2 percent, while the shares of ICICI Bank, HDFC and Axis Bank were also on the rise.
State Bank of India profit margins
India's largest bank, State Bank of India, saw the impact of the excellent quarterly results on the bank's shares and closed with an increase of 2.94 percent. In fact, the State Bank of India has achieved a net profit of Rs 838.40 crore in the fourth quarter of 2018-19. At the same time, the level of stranded debt or non-performing assets has come down to profit from the bank.
The bank had a net loss of Rs 7,718.17 crore in the January-March quarter of 2017-18. According to the information given by SBI, its earnings in the March quarter stood at about 11 per cent to Rs 75 thousand 670 crore. In the entire financial year (April-March) 2018-19, the bank's net profit stood at Rs 3,069.07 crore, while in 2017-18 it had a net loss of Rs 4,187.41 crore. Net NPA levels also dropped to 3.01 per cent during this period. It was 5.73 percent a year ago.
