Domestic stocks were trading higher in early trade on positive Asian stocks. At 9:30 IST, the barometer index, the S&P BSE Sensex, was up 38.59 points or 0.11% at 35,574.38. The Nifty 50 index was up 15.90 points or 0.15% at 10,822.40.
The S&P BSE Mid-Cap index was up 0.01%. The S&P BSE Small-Cap index was up 0.1%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 854 shares rose and 752 shares fell. A total of 61 shares were unchanged.
Hindustan Unilever rose 0.38%. The company will declare its audited financial results for the financial year ended 31 March 2018 today, 14 May 2018.
Sun TV Network jumped 11.28%. Net profit of Sun TV Network rose 22.8% to Rs 289.76 crore on 23.1% rise in net sales to Rs 716.95 crore in Q4 March 2018 over Q4 March 2017. Subscription revenue rose by 28% at Rs 308.84 crore in Q4 March 2018 over Q4 March 2017. EBITDA rose 33% at Rs 522.40 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 11 May 2018.
GlaxoSmithkline Consumer Healthcare rose 0.45%. Net profit of GlaxoSmithkline Consumer Healthcare rose 20.43% to Rs 211.81 crore on 6.96% rise in net sales to Rs 1179.58 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 11 May 2018.
Dena Bank dropped 6.26%. The Reserve Bank has initiated prompt corrective action against public sector lender Dena Bank in view of high non-performing loans, restricting the bank from giving fresh credit and new hiring. The announcement after market hours on Friday, 11 May 2018.
Also Read
Federal Bank rose 0.11%. Federal Bank said it will sell 26% in wholly-owned subsidiary, Fedbank Financial Services (Fedfina), to True North Enterprises. The announcement after market hours on Friday, 11 May 2018.
Graphite India rose 2.84%. Net profit of Graphite India surged 632.16% to Rs 453.72 crore on 224.65% rise in net sales to Rs 1212.22 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 11 May 2018.
On the macro front, India's industrial production (base year 2011-12=100) moderated to five-month low of 4.4% in March 2018 over March 2017, after healthy growth in the range of 7% to 8.5% for last four straight months. The deceleration in industrial production growth has moderated mainly driven by moderation in the manufacturing sector's production growth to 4.4% in March 2018. However, the growth of electricity generation output accelerated to 5.9%, while the mining output rebounded 2.8% in March 2018 after 0.4% decline in February 2018. The data was announced by government after market hours on Friday, 11 May 2018.
The government will announce consumer price inflation (CPI) and wholesale price inflation (WPI) for April 2018 today, 14 May 2018. CPI and WPI stood at 4.28% and 2.47%, respectively, in March 2018.
On the political front, exit polls reportedly showed that Karnataka could return a split verdict with the Bharatiya Janata Party as the single largest party. The Karnataka Assembly elections in a single-phase polling were held on Saturday, 12 May 2018. Polling was held in 222 constituencies of the 224-member assembly. Results will be announced tomorrow, 15 May 2018. Karnataka is one of only three states to be ruled by the Congress.
Overseas, Asian stocks were trading higher on signs the United States and China were toning down their trade war rhetoric. US stocks edged higher on Friday, 11 May 2018 amid growing conviction that inflation will remain tame and as trade tensions eased.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content