Key indices are trading lower in early trade as profit booking emerged after five-day upmove. At 9:24 IST, the barometer index, the S&P BSE Sensex, was down 37.61 points or 0.1% at 39,014.45. The Nifty 50 index was down 20.90 points or 0.18% at 11,565.45. Negative Asian stocks also weighed on domestic stocks.
The S&P BSE Mid-Cap index was up 0.53%. The S&P BSE Small-Cap index was up 0.4%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 681 shares rose and 335 shares fell. A total of 40 shares were unchanged.
The Reserve Bank of India (RBI) will today, 18 October 2019 announce the minutes of its fourth bi-monthly monetary policy review meeting held on 4 October 2019.
Among stocks, Cipla shed 0.39%. Cipla announced the acquisition of a novel and patented anti-infective product, Elores, from Venus Remedies (VRL) for the Indian market to further strengthen its presence in the branded Indian critical care space and as a part of its agenda to contribute to the fight against Anti-Microbial Resistance (AMR). The announcement was made after market hours yesterday, 17 October 2019.
Zee Entertainment Enterprises fell 2.95%. The company's consolidated net profit rose 6.87% to Rs 413.23 crore on 7.62% rise in total income to Rs 2190.13 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 17 October 2019.
South Indian Bank jumped 5.33% after net profit rose 20.46% to Rs 84.48 crore on 18.81% rise in total income to Rs 2203.18 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 17 October 2019.
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Indiabulls Housing Finance gained 1.14%. The company issued an offer to all debenture holder(s) for pre-mature redemption of its NCDs maturing in November and December 2019 at par. The company will also evaluate further pre-mature redemption of its NCDs from time to time. The announcement was made after market hours yesterday, 17 October 2019.
NOCIL rose 1.91%. NOCIL said that the company has after achieving mechanical completion started the trial runs effective 17 October 2019 at the company's plant situated at Dahej, in the state of Gujarat. The announcement was made after market hours yesterday, 17 October 2019.
Alicon Castalloy surged 11.83%. Alicon Castalloy has signed multi-year contracts aggregating Rs 810 crore with leading global OEMs and Tier 1 suppliers such as Jaguar Land Rover, Daimler, Samsung SDI & MAHLE. The announcement was made after market hours yesterday, 17 October 2019.
Overseas, Asian stocks were trading lower on Friday on concern about the Chinese economy. The China Q3 GDP Growth Rate will be announced today, 18 October 2019.
US stocks rose on Thursday as investor sentiment was buoyed by a string of corporate earnings beats and encouraging geopolitical developments.
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