Key benchmark indices firmed up further and hit fresh intraday high in mid-afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex, was up 128.33 points or 0.34% at 37,525.57. The Nifty 50 index was up 43.60 points or 0.39% at 11,129.
The S&P BSE Mid-Cap index was up 0.48%. The S&P BSE Small-Cap index rose 0.01%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 993 shares rose and 1383 shares fell. A total of 124 shares were unchanged.
Auto shares rose. TVS Motor Company (up 5.27%), Hero MotoCorp (up 4.32%), Bajaj Auto (up 2.74%), Tata Motors (up.2%), Escorts (up 0.48%), Maruti Suzuki India (up 0.23%) and Mahindra & Mahindra (up 0.18 %) advanced.
Ashok Leyland rose 2.33% and Eicher Motors gained 0.85% ahead of their Q1 June 2019 results today.
Most FMCG shares rose. GlaxoSmithKline Consumer Healthcare (up 1.91%), Colgate Palmolive (India) (up 1.46%), Hindustan Unilever (up 1.4%), Dabur India (up 1.25%), Nestle India (up 1.24%), Jyothy Laboratories (up 1.18%), Godrej Consumer Products (up 0.88%) and Marico (up 0.77%) advanced.
Bajaj Corp (down 3.14%), Britannia Industries (down 0.9%) and Procter & Gamble Hygiene & Health Care (down 0.32%) declined.
Tata Global Beverages rose 1.24% ahead of its Q1 June 2019 result today.
Pfizer fell 1.86%. The company said that it has been informed by its parent company Pfizer Inc., USA that Mylan N.V. and Pfizer Inc have announced a definitive agreement to combine Mylan with Upjohn, Pfizer's off-patent branded and generic established medicines business, creating a new global pharmaceutical company. The announcement was made after market hours yesterday, 30 July 2019.
KEI Industries fell 3.18%. The electrical cable and wire manufacturing company said that it has started commercial production of 1st phase of capex for manufacturing of house wire / building wire / flexible wire at new plant located at Dadra and Nagar Haveli.
Vaibhav Global gained 2.44%. On a consolidated basis, Vaibhav Global's net profit rose 19.8% to Rs 36.01 crore on a 12.8% rise in the net sales to Rs 439.96 crore in Q1 June 2019 over Q1 June 2018.
Media stocks declined. Eros International Media (down 5%), Siti Networks (down 4.82%), Balaji Telefilms (down 4.64%), Zee Entertainment (down 4.37%), TV Today Network (down 2.11%), TV18 Broadcast (down 1.58%), Zee Media (down 1.51%), Sun TV Network (down 0.45%), Prime Focus (down 0.23%) declined. Network 18 Media Investments was up 2.65%.
New Delhi Television (NDTV) was locked in 20% lower circuit at Rs 35. On a consolidated basis, NDTV reported a net profit of Rs 15.25 crore in Q1 June 2019 over a net loss of Rs 10.09 crore in Q1 June 2018. Net sales rose 10.3% to Rs 109.67 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 30 July 2019.
Dish TV India fell 4.58%. The company reported consolidated net loss of Rs 31.98 crore in Q1 June 2019 compared with a net profit of Rs 27.87 crore in Q1 June 2018. Net sales declined 44.1% to Rs 926.30 crore in Q1FY19 over Q1FY18. The result was announced after market hours yesterday, 30 July 2019.
The firm's consolidated subscription revenues plunged 44.5% to Rs 826.10 crore in Q1 June 2019 over Q1 June 2018. The consolidated EBITDA also dropped by 3.7% to Rs 536 crore this quarter as against the same quarter last fiscal year. The company achieved an EBITDA margin of 57.9% this quarter, under the New Tariff Regime.
The yield on India's 10-year benchmark federal paper fell to 6.359% at 14:23 IST compared with 6.387% at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 68.8725, compared with its close of 68.8550 during the previous trading session.
MCX Gold futures for 5 August 2019 settlement fell 0.07% at Rs 34,506.
In the commodities market, Brent crude for September 2019 settlement was up 47 cents at $65.19 a barrel. The contract rose $1.01 or 1.59% to settle at $ 64.72 a barrel in the previous trading session.
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