Key benchmark indices edged higher in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 166.38 points or 0.43% at 38,766.72. The Nifty 50 index was up 37.80 points or 0.33% at 11,636.05.
The S&P BSE Mid-Cap index was up 0.39%. The S&P BSE Small-Cap index was up 0.37%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 771 shares rose and 350 shares fell. A total of 55 shares were unchanged.
Overseas, Asian stocks were mixed Tuesday amid renewed tensions between the U.S. and China after Washington said tariffs on Chinese goods will rise on Friday. US stocks closed on Monday with tepid losses in the three major indexes, with much of their striking slumps earlier gradually eroded throughout the day.
Back home, HDFC Bank rose 0.67% after the bank said that its board will consider stock split on 22 May 2019. The board will mull a proposal to split one equity share of face value of Rs 2 each into two equity shares of face value of Re 1 each. The announcement was made after market hours yesterday, 6 May 2019.
Bharti Airtel rose 1.02%. On a consolidated basis, Bharti Airtel's net profit rose 29.31% to Rs 107.20 crore on 6.23% increase in net sales to Rs 20,602.20 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 6 May 2019.
ICICI Bank gained 1.06%. ICICI Bank's net profit fell 4.99% to Rs 969.06 crore on 4.87% increase in total income to Rs 20,913.82 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 6 May 2019.
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