Key benchmark indices extended early losses and hit fresh intraday low in morning trade. Shares in other Asian stock markets tumbled as the death toll from a new virus spreading in China rose and more cases were reported around the world. Indices may witness volatility on account of monthly F&O expiry. The Nifty hovered above 12,050 level.
At 10:25 IST, the S&P BSE Sensex, was down 208.62 points or 0.51% at 40,990.04. The Nifty 50 index was down 64.15 points or 0.53% at 12,064.70.
The broader market witnessed heavy selling pressure. The S&P BSE Mid-Cap index was down 0.72% while the S&P BSE Small-Cap index was down 0.7%.
The market breadth turned weak. On the BSE, 605 shares rose and 1164 shares fell. A total of 95 shares were unchanged. In Nifty 50 index, 10 stocks advanced while 40 stocks declined.
Q3 Earnings:
Among Nifty companies, Bajaj Auto (up 0.23%), Bharti Infratel (down 1.02%), Indian Oil Corporation (up 0.25%) and Tata Motors (up 0.82%) will announce their Q3 2019 earnings today.
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Colgate Palmolive (up 1.12%), Marico (down 1.58%), Dabur (down 0.01%), JK Tyre & Industries (down 0.18%), Blue Star (up 0.12%), Bharat Electronics (up 0.65%), Force Motors (down 2.2%), LIC Housing Finance (up 0.5%), Bajaj Holdings & Investment (up 1.04%), NOCIL (down 4.14%), Nath Bio-Genes (up 0.5%), MCX (down 3.92%), MOIL (up 0.29%), Persistent Systems (down 1.62%), Thomas Cook (up 0.18%), Jagran Prakashan (up 0.07%)and Gujarat State Fertilizers & Chemicals (down 1.44%) are some of the companies that will announce their Q3 earnings today.
Q3 Results:
Pidilite Industries was up 1.02%. The company on 29 January reported a 53.8% jump in consolidated net profit to Rs 341.78 crore in Q3 December 2019 as against Rs 222.29 crore reported in Q3 December 2018. Consolidated net sales posted a marginal growth of 4.3% year on year (YoY) to Rs 1926.59 crore. Profit before tax (PBT) for Q3 December 2019 (Q3 FY20) stood at Rs 454.53 crore, up by 37.5% against Rs 330.59 crore posted in Q3 December 2018 (Q3 FY19). Tax expenses declined 10.7% to Rs 105.69 crore in Q3FY20 from Rs 118.38 crore reported in Q3FY19.
Trident slumped 7.74% to Rs 6.44 after the company announced dismal Q3 results. On consolidated basis, textile major's net profit declined 66.2% to Rs 37.33 crore in Q3 December 2019 as against Rs 110.39 crore reported in Q3 December 2018. Net sales declined 13% to Rs 1135.59 in Q3 December 2019 over Q3 December 2018.
Quess Corp reported a 11.4% rise in consolidated net profit to Rs 71.31 crore in Q3 December 2019 as against Rs 64.04 crore reported in Q3 December 2018. Net sales jumped 35.8% to Rs 2950.02 crore in Q3 December 2019 over Q3 December 2018. Shares of Quess Corp were trading 0.61% lower at Rs 615.3.
Vaibhav Global jumped 4.23% to Rs 1040 after the company announced a stellar Q3 2019 result. On consolidated basis, net profit rose 25% to Rs 65.56 crore in Q3 December 2019 over Q3 December 2018. Net sales rose 10.3% to Rs 563.27 crore on year on year basis. The company has also declared an interim dividend of Rs 7 per equity share.
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