A bout of volatility was seen in mid-afternoon trade as the key benchmark indices trimmed gains after hitting fresh intraday in afternoon trade. At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 114.29 points or 0.36% at 31,829.93. The Nifty 50 index was up 43.35 points or 0.44% at 9,814.40. Both the Sensex and the Nifty fresh hit record high in afternoon trade. Positive global stocks boosted sentiment on the domestic bourses.
The S&P BSE Mid-Cap index was off 0.29%. The S&P BSE Small-Cap index was up 0.08%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, turned negative from positive in mid-afternoon trade. On the BSE, 1,380 shares declined and 1,270 shares rose. A total of 144 shares were unchanged.
Index heavyweight and software major Infosys advanced 1.95% to Rs 977.75. The stock hit high of Rs 988.90 and low of Rs 955 so far during the day.
IndusInd Bank rose 0.04% to Rs 1,560.50 on BSE after net profit rose 26.48% to Rs 836.55 crore on 21.52% growth in total income to Rs 5302.77 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 11 July 2017.
The bank's gross non-performing assets (NPAs) stood at Rs 1271.68 crore as on 30 June 2017 as against Rs 1054.87 crore as on 31 March 2017 and Rs 860.64 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 1.09% as on 30 June 2017 as against 0.93% as on 31 March 2017 and 0.91% as on 30 June 2016.
The ratio of net NPAs to net advances stood at 0.44% as on 30 June 2017 as against 0.39% as on 31 March 2017 and 0.38% as on 30 June 2016. The bank's provisions and contingencies rose 34.49% to Rs 309.97 crore in Q1 June 2017 over Q1 June 2016.
Realty stocks declined. DLF (down 1.11%), Indiabulls Real Estate (down 2.74%), Housing Development and Infrastructure (down 0.82%), D B Realty (down 0.74%), Unitech (down 5.33%), Sobha (down 0.95%), Godrej Properties (down 0.66%), Oberoi Realty (down 0.77%) declined. Prestige Estates Projects (up 2.1%) and and Parsvnath Developers (up 0.06%) rose.
Overseas, most European stocks edged lower as investors took a cautious approach ahead of US Federal Reserve Chairwoman Janet Yellen's testimony to Congress. Most Asian stocks were trading higher as investors hold on to their big bets ahead of the earnings season in the US.
Investors are watching for more cues from the Fed on the pace of interest-rate increases. Fed Gov. Lael Brainard was due to speak in New York on Tuesday, ahead of Chairwoman Janet Yellen's testimony to congressional committees on Wednesday and Thursday.
In US stocks, the Nasdaq and the S&P 500 finished higher yesterday, 10 July 2017 as a pair embattled sectors, technology and energy, drew bidders, while the Dow industrials closed fractionally lower.
US President Donald Trump's effort to roll back Obamacare faced growing obstacles on Monday as Republicans remained divided over how to curb the costs of their proposed healthcare bill and prevent millions from losing coverage.
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