Sensex down 19.46 points; ICICI Bank stock rallies

Mumbai, April 27 (IANS) A benchmark index for Indian equities markets was trading 19.46 points down around 2.00 p.m. Friday. Amidst the choppy session of trade, ICICI Bank's scrip came out the top gainer after it lender announced robust fourth quarter earning results.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 17,145.39 points, was ruling at 17,111.21 points around 2.00 p.m., down 0.11 percent or 19.46 points from its previous close at 17,130.67 points.

The Sensex touched a high of 17,242.15 points led by good buying support for the ICICI Bank scrip on expectations of robust earnings. However, the Sensex also touched a low of 17,134.85 points in the intra-day trade.

The country's largest private sector lender ICICI Bank rallied 3.44 percent or 28.95 points at Rs.870.50 after posting an increase of 31 percent in its net profit for the quarter ended March 31 which stood at Rs.1,901.76 crore owing to strong loan growth and high growth in treasury income.

The net profit of the bank was Rs.1,452 crore during the like period of the previous financial year, the company said in a regulatory filing.

The bank has posted an increase of 25.5 percent in net profit for the year ended March 31, 2012 at Rs.6,465.3 crore against Rs.5,151.4 crore during an year ago period.

The wide-based 50-scrip S&P CNX Nifty of the National Stock Exchange was trading 0.25 percent 0r 13.05 points down at 5,175.95 points.

Other prominent Sensex gainers were: Infosys, up 1.22 percent at Rs.2,387; Hindalco Inds, up 1.20 percent at Rs.117.70; Gail India, up 1.02 percent at Rs.327.70; Mahindra & Mahindra (M&M), up 0.92 percent at Rs.710.40 and TCS, up 0.68 percent at Rs.1,200.15.

Major Sensex losers included: Coal India, down 2.34 percent at Rs.351; DLF, down 2.31 percent at Rs.177.40; SBI, down 1.91 percent at Rs.2,118; Tata Steel, down 1.55 percent at Rs.458.70 and Jindal Steel, down 1.34 percent at Rs.482.

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