Domestic stocks drifted lower in early trade as trading resumed after a long weekend. Domestic stock markets were shut on Friday, 19 April 2019, on account of Good Friday.
At 9:26 IST, the barometer index, the S&P BSE Sensex, was down 176.61 points or 0.45% at 38,963.67. The Nifty 50 index was down 64.85 points or 0.55% at 11,687.95.
The S&P BSE Mid-Cap index was down 0.6%. The S&P BSE Small-Cap index was down 0.44%.
The market breadth, indicating the overall health of the market, was weak. On the BSE, 453 shares rose and 781 shares fell. A total of 78 shares were unchanged.
Overseas, Asian stocks were trading higher on Monday. Major US exchanges were closed on Good Friday. The most-watched European markets were closed on Good Friday and will also remain closed on Easter Monday.
Back home, Bharti Airtel fell 2.11%. Bharti Airtel announced on Friday, 19 April 2019, that its proposed rights issue is scheduled to open on 3 May 2019 and will close on 17 May 2019.
Reliance Industries (RIL) declined 1.58%. On a consolidated basis, net profit of Reliance Industries (RIL) rose 9.79% to Rs 10362 crore on 18.60% rise in net sales to Rs 138659 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Thursday, 18 April 2019.
HDFC Bank rose 0.39%. HDFC Bank's net profit rose 22.63% to Rs 5,885.12 crore on 22.13% rise in net sales to Rs 31,204.46 crore in Q4 March 2019 over Q4 March 2018. The result was announced on Saturday, 20 April 2019.
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