The benchmark indices further extended gains and hit fresh intraday high in mid-afternoon trade. At 14:26 IST, the barometer index, the S&P BSE Sensex, was up 278.10 points or 0.76% at 36,968.60. The Nifty 50 index was up 59.75 points or 0.55% at 10,915.25.
The S&P BSE Mid-Cap index was down 0.41%. The S&P BSE Small-Cap index fell 0.07%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1053 shares rose and 1237 shares fell. A total of 136 shares were unchanged.
Prime Minister Narendra Modi will reportedly address the nation on the historic step to abrogate Article 370 of the Constitution which granted special status to Jammu and Kashmir and split the state into two Union Territories. The broadcast will be aired on All India Radio at 16:00 IST, reports added.
Ultratech Cement slipped 3.97%. On a consolidated basis, the cement maker's net profit rose 91.10% to Rs 1,207.81crore on a 14.35% rise in the revenue from operations to Rs 10,177.63 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 8 August 2019.
Most pharma stocks advanced. Glenmark Pharmaceuticals (up 2.2%), Wockhardt (up 2.13%), Piramal Enterprises (up 1.53%), Strides Shasun (up 1.19%), Alkem Laboratories (up 0.75%), Dr Reddy's Laboratories (up 0.74%), IPCA Laboratories (up 0.48%) and Divi's Laboratories (up 0.06%) advanced.
More From This Section
Cipla (down 3.91%), Lupin (down 3.5%), GlaxoSmithKline Pharmaceuticals (down 1.01%) and Sun Pharmaceutical Industries (down 0.07%) declined.
Abbott India jumped 5.85%. The MNC associate reported 41.92% rise in the net profit to Rs 116.94 crore on a 18.22% increase in the revenue from operations to Rs 998.89 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 8 August 2019.
Cadila Healthcare rose 2.23%. The company said that it has received a letter from the U.S. FDA classifying the inspection conducted at the company's Moraiya facility located at Ahmedabad, Gujarat from 22 April 2019 to 3 May 2019 as 'Official Action Indicated' (OAI). The Company believes that this classification will not have any impact on the current supplies or revenues of this facility. The announcement was made after market hours yesterday, 7 August 2019.
Aurobindo Pharma jumped 6.68%. The company's consolidated net profit jumped 41.6% to Rs 645.18 crore on 28.1% increase in net sales to Rs 5356.84 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 7 August 2019.
The company's earnings before interest tax depreciation and amortization (EBITDA) increased 47.1% to Rs 1146.4 crore in Q1 June 2019 compared with Rs 779.2 crore in Q1 June 2018. The EBITDA margin was at 21.1% in Q1 June 2019 as compared to 18.3% in Q1 June 2018.
Borosil Glass Works lost 1.66%. The glassware company said that it has made an additional investment of Rs. 5 crore by way of subscription to the fresh rights issue of Klass Pack, a subsidiary company. With the said investment, the company's shareholding in Klass Pack has increased from 75.73 % to 79.52%. The announcement was made during market hours today, 8 August 2019.
Jindal Steel & Power fell 4.83%. The company clarified that all speculations/rumors with respect to payment default are baseless and false in nature. The company strongly reiterates that it is on track to deliver its highest ever volumes this year and should be able to generate better returns for its stakeholders. The result was announced after market hours yesterday, 7 August 2019.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 70.858, compared with its close of 71.130 during the previous trading session.
The yield on India's 10-year benchmark federal paper rose to 6.384% at 14:23 IST compared with 6.369% at close in the previous trading session.
MCX Gold futures for 4 October 2019 settlement fell 0.80% at Rs 37,914.
In the commodities market, Brent crude for October 2019 settlement was up $1.34 at $57.37 a barrel. The contract fell $ 2.71 or 4.59% to settle at $56.23 a barrel in the previous trading session.
Powered by Capital Market - Live News