Key equity barometers sharply pared gains in mid morning trade. At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 22.74 points or 0.06% at 36,713.24. The Nifty 50 index was up 4.15 points or 0.04% at 10,859.65.
The S&P BSE Mid-Cap index was down 0.33%. The S&P BSE Small-Cap index rose 0.02%.
The market breadth was almost even. On the BSE, 949 shares rose and 992 shares fell. A total of 106 shares were unchanged.
Ultratech Cement rose 0.67% ahead of its Q1 result on 8 August 2019.
Index major Reliance Industries (RIL) rose 0.63%. As per reports, RIL is partnering with US-based luxury jeweller Tiffany & Co to open a line of stores in the country. Tiffany plans to open stores in New Delhi and Mumbai in the second half of fiscal years 2019 and 2020 respectively, the report added.
NBCC (India) rose 2.63%. The civil engineering enterprise secured the total business of Rs 201.77 crore in June and July 2019. The announcement was made after market hours yesterday, 7 August 2019.
Shares of Affle (India) were at Rs 839.40, a premium of 12.67% over the initial public offer price of Rs 745. The stock debuted at Rs 929.90, a premium of 24.81% to the initial public offer (IPO) price. So far the stock hit a high of Rs 958.30 and low of Rs 751.05. On BSE, so far 5.74 lakh shares were traded on the counter.
Dilip Buildcon gained 0.76%. The promoters of the company, Dilip Suryavanshi, Devendra Jain and Ms. Seema Suryavanshi, have proposed to divest part of their shareholding in the company. The promoters will divest 0.63% of the total equity capital of the company aggregating upto 8.64 lakh shares. The stake sale in undertake in connection with manner of achieving minimum public shareholding. The announcement was made after market hours yesterday, 7 August 2019.
Most auto shares rose. Tata Motors (up 1.87%), Escorts (up 1.5%), Hero MotoCorp (up 1.04%), Ashok Leyland (up 0.49%), Eicher Motors (up 0.4%), Bajaj Auto (up 0.39%) and Mahindra & Mahindra (up 0.25%) advanced. TVS Motor Company was down 1.57%.
Maruti Suzuki India gained 0.08%. The car marker announced the production figures for the month of July 2019 after market hours yesterday, 7 August 2019. The company reported a 25.36% decline in the total production to 1.33 lakh units while the total passenger vehicles' production fell 25.60% to 1.30 lakh units.
As per reports, auto industry majors have met the Finance Minister Nirmala Sitharaman to seek stimulus package to spur demand. The auto leader have also requested for GST reduction, more liquidity and relaxation of credit facilities for retailers.
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