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Sensex, Nifty Off Day's Highs; Airtel, ICICI Bank Fall After Q4 Earnings

Sensex and Nifty came off intraday high levels paced by losses in Bharti Airtel and ICICI Bank.

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Sensex, Nifty Off Day's Highs; Airtel, ICICI Bank Fall After Q4 Earnings

ICICI Bank shares declined 1.45 per cent to Rs 395.55 after its profit dropped to Rs 969 crore in Q4.


Indian equity benchmarks came off intraday high levels paced by losses in Bharti Airtel and ICICI Bank after they reported earnings post market hours yesterday. Earlier in the day, the Sensex rose over 200 points and the Nifty 50 Index climbed above its crucial psychological level of 11,650 on the back of buying interest in HDFC, HDFC Bank, Infosys and Hindustan Unilever. The mid- and small-cap shares were witnessing a mild buying interest as the S&P BSE MidCap and S&P BSE SmallCap Indexes rose 0.2 per cent each.

As of 12:17 pm, the Sensex advanced 0.25 per cent or 95 points to 38,695 and the NSE Nifty 50 Index rose 0.18 per cent or 20 points to 11,619.

Sixteen of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Consumer Durables index's 1 per cent gain. FMCG, Basic Materials, Industrials and Capital Goods indexes also rose between 0.4 and 0.7 per cent each.

On the flipside, S&P BSE Telecom Index was top loser, down 1.4 per cent as telecom heavyweight Bharti Airtel fell as much as 2.56 per cent to Rs 324.85 after it reported net profit of Rs 107 crore on the back of an exceptional gain of Rs 2,022 crore.

ICICI Bank shares declined 1.45 per cent to Rs 395.55 after its profit dropped to Rs 969 crore in the three months ended March 31 against Reuters poll of Rs 2,129 crore.

In the Nifty 50 basket of shares 31 were advancing while 18 were declining.

Hindustan Unilever was top gainer in the Nifty 50 basket of shares, up 2.13 per cent at Rs 1,704. Hindalco, HDFC, Bharti Infratel, Indiabulls Housing Finance, Larsen & Toubro, Titan and Hero MotorCorp were also among the gainers.

On the other hand, Bharat Petroleum, Asian Paints, Indian Oil, HCL Technologies, Reliance Industries, GAIL, Zee Entertainment and Tech Mahindra were among the losers.

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