Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 341.25 points or 0.7% at 49,285.39. The Nifty 50 index was up 95.80 points or 0.65% at 14,748.85. The Sensex regained the psychological 49,000 mark in opening trade.
The S&P BSE Mid-Cap index was up 0.58%. The S&P BSE Small-Cap index was up 0.74%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1522 shares rose and 430 shares fell. A total of 96 shares were unchanged.
Stocks in news:
Bajaj Finance advanced 2.37%. The company's consolidated net profit jumped 42% to Rs 1,347 crore on 5% decline in total income to Rs 6,855 crore in Q4 FY21 over Q4 FY20. The NBFC's new loans booked during Q4 FY21 stood at 5.47 million, down by 9% over 6.03 million in Q4 FY20. Customer franchise as of 31 March 2021 was at 48.57 million compared with 42.60 million as of 31 March 2020. Bajaj Finance acquired 2.26 million new customers in Q4 FY21 compared with 1.85 million in Q4 FY20.
Axis Bank rose 0.64%. Axis Bank reported net profit of Rs 2677 crore in Q4 FY21 compared with net loss of Rs 1387.78 crore in Q4 FY20. Total income during the quarter declined marginally by 0.03% to Rs 20,213.46 crore in Q4 FY21 over Q4 FY20. The bank posted a pre-tax profit of Rs 3569.67 crore in Q4 FY21 compared with pre-tax loss of Rs 1878.91 crore in Q4 FY20.
Britannia Industries fell 1.16%. The company's consolidated net profit fell 2.78% to Rs 364.32 crore on 8.42% increase in total income to Rs 3,194.52 crore in Q4 FY21 over Q4 FY20.
More From This Section
ABB India rose 1.44%. On a standalone basis, ABB India's net profit soared 118.64% to Rs 141.33 crore on 7.02% increase in total revenue from operations to Rs 1,629.15 crore in Q1 FY21 over Q1 FY20.
HDFC Asset Management Company (HDFC AMC) lost 2.48%. HDFC AMC reported 26% jump in net profit to Rs 315.9 crore on 6% rise in revenue from operations to Rs 502.9 crore in Q4 FY21 over Q4 FY20.
TVS Motor Company jumped 9.99%. The company's consolidated net profit rose 318.76% to Rs 310.05 crore on 48.78% increase in total income to Rs 6,142.67 crore in Q4 FY21 over Q4 FY20.
Info Edge (India) advanced 2.34%. Info Edge (India) said that it would sell stake worth Rs 750 crore in the initial public offering of Zomato through offer for sale.
Global Markets:
Asian stocks are trading mixed on Wednesday ahead of the US Federal Reserve's policy decision.
Japan's retail sales rose 5.2% in March as compared with a year ago, according to government data.
In US, the S&P 500 closed little changed near its record level on Tuesday as investors braced for a big batch of tech earnings.
The Federal Reserve kicked off its two-day policy meeting Tuesday. The central bank is reportedly likely to hold and keep its asset-buying program in place at the same levels for the rest of 2021, despite growing concerns about an overheating economy.
Consumer confidence climbed sharply to hit a pandemic high with The Conference Board's index jumping to 121.7, the highest since February 2020.
Back home, domestic equity indices rallied for the second session on Tuesday. The barometer index, the S&P BSE Sensex, jumped 557.63 points or 1.15% at 48,944.14. The Nifty 50 index added 168.05 points or 1.16% at 14,653.05.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,454.75 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,463.44 crore in the Indian equity market on 27 April, provisional data showed.
Powered by Capital Market - Live News