Key indices are trading higher in early trade as most Asian stocks rose. At 9:23 IST, the barometer index, the S&P BSE Sensex, was up 147.10 points or 0.39% at 37,994.75. The Nifty 50 index was up 47.20 points or 0.42% at 11,318.50.
Trading could be volatile as traders roll over positions in the F&O segment from the near month July 2019 series to August 2019 series. The July 2019 F&O contracts expire today, 25 July 2019.
The S&P BSE Mid-Cap index was up 0.53%. The S&P BSE Small-Cap index was up 0.26%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 646 shares rose and 341 shares fell. A total of 46 shares were unchanged.
Overseas, most Asian stocks were trading higher on Thursday as semiconductor stocks in Japan and South Korea gained. In Europe, the European Central Bank is set to meet on Thursday and is widely expected to keep interest rates unchanged.
In US, the S&P 500 and Nasdaq stock indexes closed at record on Wednesday despite mixed earnings and economic data and antitrust probes into leading U.S. technology stocks. But the Dow ended lower after disappointing earnings from Boeing and Caterpillar.
More From This Section
In economic data, U.S. new home sales rebounded in June, the first gain in three months, but U.S. manufacturers expanded in July at the slowest pace in almost 10 years. IHS Markit said its manufacturing PMI slid to 50 this month from 50.6 in June, marking the lowest level since September 2009 just as the current expansion was getting under way.
A U.S. delegation headed by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin is set to travel to China to revive trade talks next week, as per reports, marking the first in-person talks since the Group of 20 summit last month.
Back home, Yes Bank rose 1.23%. ICRA has downgraded long-term ratings of Yes Bank with negative outlook. Ratings for short-term Fixed Deposit and Certificates of Deposit Programme reaffirmed at A1+. The announcement was made after market hours yesterday, 24 July 2019.
Bharti Infratel surged 3.86% after consolidated net profit rose 39.03% to Rs 887 crore on 0.61% rise in total income to Rs 2042.40 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.
ICICI Prudential Life Insurance Company advanced 3.19%. The company's consolidated net profit rose 1.2% to Rs 284.64 crore on 7.05% rise in total income to Rs 8576.25 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.
Syngene International dropped 2.72%. The company's consolidated net profit rose 8.76% to Rs 72 crore on 3.91% rise in total income to Rs 441.40 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.
P I Industries gained 3.43% after consolidated net profit rose 23.6% to Rs 101.60 crore on 24.4% rise in total income to Rs 766.20 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.
Quess Corp fell 1.01% after consolidated net profit fell 1.55% to Rs 53.95 crore on 21.47% rise in total income to Rs 2411.83 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.
Powered by Capital Market - Live News