Key indices drifted lower in early trade as profit booking emerged after recent rally. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 105.52 points or 0.24% at 43,488.15. The Nifty 50 index was down 35.05 points or 0.27% at 12,714.10.
The S&P BSE Mid-Cap index was up 0.36%. The S&P BSE Small-Cap index was up 0.51%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1023 shares rose and 704 shares fell. A total of 92 shares were unchanged.
Stocks in news:
Power Grid Corporation of India rose 0.24% after the company reported 20.34% rise in consolidated net profit to Rs 3,094.10 crore on 2.36% increase in total income to Rs 9,887.48 crore in Q2 September 2020 over Q2 September 2019.
Shree Cement gained 1.06% after the company reported 69.65% rise in net profit to Rs 526.97 crore on 9.48% increase in total income to Rs 3,353.33 crore in Q2 September 2020 over Q2 September 2019.
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Aurobindo Pharma surged 4.31% reported 101.33% jump in net profit to Rs 801.54 crore on 40.48% increase in total income to Rs 4,572.96 crore in Q2 September 2020 over Q2 September 2019.
Coal India dropped 2.9% after the company reported 16.31% fall in consolidated net profit to Rs 2,948.12 crore on 1.03% increase in total income to Rs 22,238.61 crore in Q2 September 2020 over Q2 September 2019.
Indiabulls Housing Finance advanced 4.3%. The company reported 54.45% fall in consolidated net profit to Rs 323.20 crore on 25.86% fall in total income to Rs 2,581.00 crore in Q2 September 2020 over Q2 September 2019.
Ashoka Buildcon jumped 6.46% after the company reported 308.13% surge in consolidated net profit to Rs 73.26 crore on 15.95% rise in total income to Rs 1,224.51 crore in Q2 September 2020 over Q2 September 2019.
Global Markets:
Overseas, Asian stocks are trading higher on Thursday, buoyed again by continued global stimulus efforts and hopes of a coronavirus vaccine.
In US, the S&P 500 and Nasdaq Composite rose on Wednesday as tech shares recovered. The blue-chip Dow ended the session slightly in the red. The Dow Jones Industrial Average fell 23.29 points, or 0.08%, to 29,397.63, the S&P 500 gained 27.13 points, or 0.77%, to 3,572.66 and the Nasdaq Composite added 232.58 points, or 2.01%, to 11,786.43.
Back home, the market extended its winning run to eighth consecutive session on Wednesday. Pharma and auto shares rallied while PSU banks corrected. The barometer index, the S&P BSE Sensex, gained 316.02 points or 0.73% at 43,593.67. The Nifty 50 index added 118.05 points or 0.93% at 12,749.15.
Foreign portfolio investors (FPIs) bought shares worth Rs 6,207.19 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,463.86 crore in the Indian equity market on 11 November, provisional data showed.
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