Key benchmark indices edged lower in early trade amid subdued global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex was down 49.49 points or 0.16% at 30,978.72. The Nifty 50 index declined 20.60 points or 0.21% at 9,574.50. The Sensex slipped below the psychological 31,000 level in early trade. It had settled above that level during the previous trading session.
Among other indices, the S&P BSE Mid-Cap index was up 0.31%. The BSE Small-Cap index rose 0.22%. Both these indices outperformed the Sensex.
Overseas, Asian stocks were mostly flat after the latest ballistic missile test by North Korea and as major markets are closed for public holidays today, 29 May 2017. US stocks closed mixed on Friday, 26 May 2017, ahead of the Memorial Day holiday weekend.
Closer home, the breadth, indicating the overall health of the market, was strong. On the BSE, 864 shares rose and 488 shares declined. A total of 62 shares were unchanged.
ONGC fell 0.74% after net profit fell 6.1% to Rs 4340.18 crore on 26.8% rise in total income to Rs 26233.56 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Friday, 26 May 2017.
Tech Mahindra tumbled 12.09% at Rs 377.45 after consolidated net profit dropped 30.2% to Rs 589.69 crore on 0.26% rise in total income to Rs 7732.89 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 26 May 2017.
Sun Pharmaceuticals Industries tanked 10.97% at Rs 506.20 after consolidated net profit fell 16.67% to Rs 1385.57 crore on 6.35% fall in total income to Rs 7361.46 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Friday, 26 May 2017.
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