Key benchmark indices gyrated in a small range near the flat line in early afternoon trade. At 12:14 IST, the barometer index, the S&P BSE Sensex, was up 20.09 points or 0.08% at 25,900.47. The Nifty 50 index was currently up 6.10 points or 0.08% at 7,918.15. The Nifty rose 11.30 points or 0.14% at the day's high of 7,923.65 in early afternoon trade. The index lost 38.70 points or 0.48% at the day's low of 7,873.35 in early trade, its lowest level since 18 April 2016. The Sensex rose 41.64 points or 0.16% at the day's high of 25,922.02 in mid-morning trade. The barometer index lost 108.50 points or 0.41% at the day's low of 25,771.88 in early trade, its lowest level since 20 April 2016.
The market breadth indicating the overall health of the market was positive. On BSE, 1,223 shares gained and 941 shares declined. A total of 174 shares were unchanged. The BSE Mid-Cap index was currently up 0.36%. The BSE Small-Cap index was currently up 0.29%. Both these indices outperformed the Sensex.
In overseas stock markets, most Asian markets edged lower following overnight losses for US stocks. US stocks closed lower yesterday, 21 April 2016, as big declines in defensive sectors such as consumer staples, telecom and utilities weighed on the main indexes. In Europe, the European Central Bank (ECB) yesterday, 21 April 2016, left monetary policy unchanged as expected. ECB President Mario Draghi retained a hawkish stance when he said that he would use all the tools at his disposal for as long as needed.
Index heavyweight and housing finance major HDFC fell 1.46% to Rs 1,131.90. The stock hit high of Rs 1,152 and low of Rs 1,122 so far during the day.
FMCG stocks saw mixed trend. Dabur India (up 2.28%), Godrej Consumer Products (up 1.12%), Britannia Industries (up 0.76%), Colgate-Palmolive (India) (up 0.12%), Marico (up 1.27%) and Tata Global Beverages (up 1.25%) rose. Hindustan Unilever (down 1.26%), GlaxoSmithkline Consumer Healthcare (down 0.68%), Nestle India (down 0.05%), Procter & Gamble Hygiene and Health Care (down 0.29%), Jyothy Laboratories (down 1.66%) and Bajaj Corp (down 0.16%) declined.
Telecom stocks saw mixed trend. Reliance Communications (up 5.28%), Idea Cellular (up 0.9%) and MTNL (up 0.55%) gained. Bharti Airtel (down 0.6%) and Tata Teleservices (Maharashtra) (down 0.15%) fell.
Bharti Infratel slipped 0.64%. The company before market hours today, 22 April 2016, announced that its board of directors will consider a proposal for buyback of a portion of fully paid up equity shares on 26 April 2016 when it is announcing Q4 March 2016 results. The board will also consider payment of dividend for the year ended 31 March 2016.
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IndusInd Bank rose 1.22% on strong Q4 March 2016 results. The bank's net interest margin rose 26 basis points on year-on-year basis to 3.94% in Q4 March 2016. The private sector bank said that growth in total deposits stood at industry beating 25% in Q4 March 2016. Growth in current and savings accounts (CASA) deposits stood at 29% in Q4 March 2016. The CASA ratio edged up to 35.2% as on 31 March 2016 from 35% as on 31 December 2015. The growth in the bank's loan book stood at industry beating 29% in Q4 March 2016. Shares of IndusInd Bank had lost 1.35% to settle at Rs 971.65 yesterday, 21 April 2016, as the fourth quarter results showed increase in the bank's sticky loans.
IndusInd Bank's net profit rose 25.25% to Rs 620.35 crore on 23.38% growth in total income to Rs 4044.49 crore in Q4 March 2016 over Q4 March 2015. The bank announced the results during trading hours yesterday, 21 April 2016.
Deep Industries surged 5.83% after the company said it has secured a contract worth about Rs 7.79 crore from ONGC. The announcement was made during market hours today, 22 April 2016. Deep Industries said it has received a notification of award for hiring of natural gas compression services at ONGC, GGS-IV Ankleshwar for a capacity of 80,000 SCMD for a period of three years.
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