Sensex reduces Nifty nears 17700, with support in the 17500-17550 range
Sensex, Nifty, and Share Prices LIVE: Domestic markets opened in the red as Dalal Street’s downward trend continued.
Sensex, Nifty, and Share Prices LIVE: Dalal Street benchmark indices opened lower on the back of weak global cues on Friday morning. In the 1st some minutes of trading, the S&P BSE Sensex fell over 700 points, or 1.25 percent, to near 58,700. While the NSE Nifty 50 fell below the 17,550 support level. The Bank Nifty declined more than 1.6 percent, and broader markets followed suit. The India VIX increased by 10% to reclaim 19 stories.
The share price of Persistent Systems has increased by 6%, and the board has declared an interim dividend.
The share price of Persistent Systems increased by 6% to Rs 4,500 on Friday after the company reported improved results for the quarter ended December 2021. The company’s net profit grew 45.87 percent year on year to Rs 176.39 crore for the quarter ended December 31, up from Rs 120.92 crore the previous year.
Consolidated revenue increased 38.71% year on year to Rs 1,491.71 crore from Rs 1,075.39 crore. The board of directors of Persistent Systems also approved the payment of an interim dividend of Rs 20 per equity share of Rs 10 for the fiscal year 2021-22.
According to IDBI Bank, Net profit for the third quarter was Rs 578.2 crore.
IDBI Bank’s third-quarter net profit increased 52.8 percent year on year to Rs 578.2 crore from Rs 378.4 crore. The lender’s net interest income (NII) increased 31.1 percent year on year to Rs 2,832.5 from Rs 1,817.4 crore. As a result, the gross NPA was Rs 34,405 crore instead of Rs 34,408 crore. And the net NPA was Rs 2,289 crore as opposed to Rs 2,132 crore, QoQ. IDBI Bank was trading at Rs 50.10, down Rs 0.45, or 0.89 percent.
The Nifty is approaching 17700.
On Friday afternoon, the Nifty 50 index was approaching 17,700, as headline indices recovered some of their opening losses. The Sensex was trading above 59,200.
