Key equity barometers hit fresh intraday high in morning trade. At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 212.61 points or 0.60% at 35,643.04. The Nifty 50 index added 79.25 points or 0.76% at 10,550.25.
The media reports of disengagement between India and China in Ladakh's Galwan Valley has relieved participants, after days of heated arguments. Positive global cues and unabated foreign fund inflows also supported domestic equities.
In the broader market, the S&P BSE Mid-Cap index rose 1.21% while the S&P BSE Small-Cap index gained 0.92%.
The market breadth was strong. On the BSE, 1659 shares rose and 612 shares fell. A total of 107 shares were unchanged.
Buzzing Index:
The Nifty Auto index rose 1.86% to 6,915.25. The index is up 7.3% in seven sessions.
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Among the index constituents, Tata Motors (up 5.27%), Hero MotoCorp (up 4.26%), Bajaj Auto (up 3.03%), Ashok Leyland (up 2.49%), M.R.F. (up 2.07%), Mahindra & Mahindra (up 1.86%), Apollo Tyres (up 1.56%), Eicher Motors (up 1.56%), Exide Industries (up 1.46%), TVS Motor Company (up 1.40%), Amara Raja Batteries (up 1.10%), Motherson Sumi Systems (up 0.95%), Bharat Forge (up 0.77%), Bosch (up 0.49%) and Maruti Suzuki (up 0.26%) edged higher.
Q4 Results Today:
Indian Oil Corporation (up 0.39%), Gail (India) (up 1.21%), Power Finance Corporation (up 1.46%), Canara Bank (up 2.85%), United Breweries (up 3.02%), India Cements (up 0.04%), Prestige Estates Projects (up 0.65%), PNC Infratech (up 4.69%), Indoco Remedies (up 0.43%), Future Consumer (up 5%), Bombay Burmah Trading Corp. (up 2.99%), General Insurance Corporation of India (up 0.78%), Rail Vikas Nigam (up 1.98%), ESAB India (up 2.99%), Balmer Lawrie & Co. (up 1.27%) and Sharda Cropchem (up 3.22%) are some of the companies that will announce their quarterly earnings today.
Earnings impact:
Asian Paints jumped 4.43% to Rs 1758.20. On a consolidated basis, the company's net profit declined 2.1% to Rs 461.89 crore on 7.1% fall in net sales to Rs 4635.59 crore in Q4 March 2020 over Q4 March 2019. Profit before tax stood at Rs 699.22 crore in Q4 March 2020, declining 5.3% from Rs 738.30 crore in the same period last year. Total tax expense declined 13.2% to Rs 218.97 crore in Q4 March 2020 from Rs 252.31 crore in Q4 March 2019.
Berger Paints India gained 1.44% to Rs 522.90. The company reported a 6.4% drop in consolidated net profit to Rs 103.72 crore on a 8% fall in net sales to Rs 1354.84 crore in Q4 March 2020 over Q4 March 2019. Profit before tax stood at Rs 159.21 crore in Q4 March 2020, falling 12.5% from Rs 181.92 reported in Q4 March 2019. Consolidated EBITDA (excluding other income) fell 7.6% to Rs 208.4 crore in quarter ended 31 March 2020 from Rs 225.6 crore registered in the same period last year.
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