Stocks added onto their five-day gains on buying demand in index pivotals. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 96.20 points or 0.24% at 40,225.25. The Nifty 50 index was up 15.40 points or 0.13% at 11,892.85.
The S&P BSE Mid-Cap index was up 0.39%. The S&P BSE Small-Cap index was up 0.42%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 700 shares rose and 320 shares fell. A total of 46 shares were unchanged.
Among stocks, Yes Bank lost 2.41% ahead of its Q2 result today, 1 November 2019.
TVS Motor Company shed 0.62%. Bajaj Auto fell 0.4%. TVS Motor Company and Bajaj Auto have entered into a settlement agreement on 31 October 2019 to amicably settle a decade old dispute relating to alleged infringement of Bajaj's Patent No.195904, defamation suit against the company by TVS Motor and other related proceedings filed against each other, which were pending before the Madras High Court, Bombay High Court, the Intellectual Property Appellate Board (IPAB), Chennai and courts in Sri Lanka and Mexico.
Both, TVS Motor and Bajaj Auto have mutually agreed to withdraw the Pending Proceedings and release each other from all liabilities, claims, demands and actions in respect of the Pending Proceedings. None of them are required to pay any compensation or penalty to the other as part of settlement. There will be no impact on financial position of the Company due to the Settlement Agreement.
Jindal Saw gained 4.34% after the company reported 209.78% rise in consolidated net profit to Rs 301.04 crore on 9.53% fall in total income to Rs 2710.97 crore in Q2 September 2019 over Q2 September 2018.
Blue Dart Express rose 1.96%. The company reported 35.02% fall in consolidated net profit to Rs 14.64 crore on 0.45% rise in total income to Rs 808.69 crore in Q2 September 2019 over Q2 September 2018.
Laurus Labs advanced 5.9% after the company reported 248.86% rise in consolidated net profit to Rs 56.55 crore on 19.2% rise in total income to Rs 713.78 crore in Q2 September 2019 over Q2 September 2018.
German Chancellor Angela Merkel arrived in Delhi on 31 October on a two-day visit during which she will reportedly hold talks with Prime Minister Narendra Modi on a host of bilateral issues, with nearly 20 agreements expected to be signed between the two countries.
On the macro front, Markit Manufacturing PMI for October 2019 will be unveiled today, 1 November 2019.
Meanwhile, the combined Index of Eight Core Industries stood at 120.6 in September 2019, which declined by 5.2% as compared to the index of September 2018.
Overseas, most Asian stocks were trading higher ahead of U.S. economic data.
US stocks fell on Thursday as conflicting tones surrounding a possible trade deal between the United States and China eclipsed strong earnings reports from Apple and Facebook.
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