Indian share markets witnessed positive trading activity throughout the day today and ended higher.

Benchmark indices ended higher in today's session, with a major contribution from heavyweight Reliance Industries, ahead of GDP data release set later in the day today.

Meanwhile, the broader NSE Nifty index logged a fresh lifetime high in intra-day deals and topped the 15,550-mark.

At the closing bell, the BSE Sensex stood higher by 515 points (up 1%).

Meanwhile, the NSE Nifty closed higher by 147 points (up 1%).

Reliance Industries and ICICI Bank were among the top gainers today.

Mahindra & Mahindra and Adani Ports, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,574, up by 82 points, at the time of writing.

Both, the BSE MidCap index and the BSE SmallCap index ended up by 0.5%.

Sectoral indices ended on a positive note with stocks in the energy sector, metal sector, and telecom sector witnessing most of the buying interest.

IT and auto stocks, on the other hand, witnessed selling pressure.

Shares of PNB Housing Finance and Redington hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today as investors continue to weigh inflation risks and the strength of the economic recovery.

The Hang Seng and the Shanghai Composite ended the day up by 0.1% and 0.4%, respectively.

The Nikkei ended down by 1% in today's session.

US stock futures are trading on a flat note today with the Dow Futures trading up by 22 points.

The rupee is trading at 72.61 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.5% at Rs 48,805 per 10 grams.

Bank of Baroda Reports Big Loss; Company to Raise Rs 50 Bn

In news from the banking sector, Bank of Baroda was among the top buzzing stocks today.

State-owned lender Bank of Baroda (BOB) reported a standalone net loss of Rs 10.5 bn for the March 2021 quarter despite falling provisions.

This was due to higher tax costs.

It had posted a profit of Rs 5.1 bn in the same period last year.

The tax cost for the March quarter was at Rs 37.3 bn against tax writeback of Rs 22.3 bn in the same quarter last year.

On a consolidated basis, the net loss stood at Rs 7.4 bn for the fourth quarter.

The bank has stopped short of declaring any dividend for the financial year 2020-21.

Profit for the full year, increased sharply by 51.8% to Rs 8.3 due to lower provisions compared to the previous year.

Bank of Baroda's net interest income (NII) (the difference between interest earned and interest expended) increased 4.5% to Rs 71.1 bn for the fourth quarter compared to Rs 68 bn in the same quarter last year.

The bank attributed the loss to a shift to a new tax structure and on account of deferred tax liability (DTA) reversal.

'Excluding the impact of the change in the tax regime, the bank would have reported a profit after tax of Rs 22.7 bn in the March quarter, the company said in a filing.

Non-interest income (other income) at Rs 48.5 bn surged 71% in the fourth quarter compared to the year-ago quarter.

Asset quality improved during the quarter compared to the previous quarter.

Gross non-performing assets (NPAs) as a % of gross advances and net NPA as a percentage of net advances fell to 8.9% and 3.1% in the March quarter.

This was against gross and net NPA at 9.6% and 3.4% in December 2020 quarter, respectively.

Provisions and contingencies fell 46% YoY to Rs 35.9 bn, but the same increased 4.4% on a sequential basis in the March quarter.

The company also plans to raise Rs 50 bn from sales of shares and bonds after posting an unexpected loss in the fourth quarter.

India's state-run lender's borrowing plan includes raising as much as Rs 20 bn through a sale of shares and up to Rs 30 bn via bonds that qualify as capital.

The bank raised Rs 45 bn from institutional investors in March to strengthen its capital ratios.

Bank of Baroda's gross bad-loan ratio was at 8.9% at the end of March quarter compared to 8.5% at end of December quarter.

Bank of Baroda's share price ended the day down by 3.8% on the BSE.

In other news from the banking sector...

Reserve Bank of India Has Imposed a Rs 100 m Fine on HDFC Bank

The monetary penalty has been imposed on the private sector lender for contravention of provisions of section 6(2) and section 8 of the banking regulation act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, (Reserve Bank of India) RBI clarified.

The action has been taken after RBI looked into a whistleblower complaint about irregularities in HDFC Bank's vehicle loan division on 23 July 2020.

The complaint reportedly claimed that the lender forced its customers to purchase a vehicle tracking device for four years till December 2019, which stands in contravention of the abovementioned sections of the banking regulations act that prohibit banks from indulging in non-financial businesses.

Aditya Puri, the then managing director, and chief executive officer of HDFC Bank, told shareholders during an annual general meeting that the bank, following the whistleblower complaint, has investigated the matter and took disciplinary action against employees involved.

In a statement the central bank said,

• After considering the bank's reply to the show-cause notice, oral submissions made during the personal hearing, and examination of further clarifications/documents furnished by the bank, RBI came to the conclusion that the aforesaid charge of contravention of provisions of the act was substantiated and warranted imposition of monetary penalty.

HDFC Bank's share price ended the day up by 1% on the BSE.

Speaking of HDFC Bank, note that the bank is one that has always adapted to changing times.

HDFC Bank wanted to transform itself from a leader in physical banking to a leader in online banking. Since then, HDFC Bank has constantly focused on going digital.

In 2004, only 10% of customer transactions were initiated through the internet and mobile. The number has gone up to 92% in 2019.

It is a great example of a company that has taken advantage of its scale and embraced disruption rather than fear it.

These are traits that one should look for in picking stocks. They not only withstand the disruption but also gain from it in the long run.