Key indices were trading lower in line with Asian peers. At 9:21 IST, the barometer index, the S&P BSE Sensex, was down 198.02 points or 0.49% at 40,083.18. The Nifty 50 index was down 66.45 points or 0.56% at 11,731.45.
The S&P BSE Mid-Cap index was down 0.42%. The S&P BSE Small-Cap index was down 0.24%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 308 shares rose and 672 shares fell. A total of 28 shares were unchanged.
Q4 earnings impact:
Sanofi India surged 6.41%. Sanofi India reported 22.70% rise in consolidated net profit to Rs 97.30 crore on 14.01% rise in total income to Rs 851.10 crore in Q4 December 2019 over Q4 December 2018. The company recommendation final dividend of Rs 106 per equity share of Rs 10 each and one-time special dividend of Rs 243 per equity share of Rs 10 each for the year ended 31 December 2019. The total dividend recommended is Rs 349 per equity share of Rs 10 each for the year ended 31 December 2019.
Stocks in news:
Bandhan Bank gained 3.65%. Bandhan Bank said the Reserve Bank of India (RBI) has allowed Bandhan Bank to expand its branch network after considering the efforts made by the private lender to comply with the licensing conditions.
IRB Infrastructure Developers rose 3.63%. IRB Infrastructure Developers said it has bagged a contract for operating and collecting toll on Mumbai-Pune Expressway project under the toll-operate-toll model. The company has received a letter of acceptance from Maharashtra State Road Development Corporation for a period of 10 years and two months.
Yes Bank fell 0.28%. Yes Bank said that ratings agency CARE Ratings has placed bonds worth more than Rs 21,000 crore on credit watch with negative implications.
Wockhardt was up 0.65%. Wockhardt said India Ratings has revised the company's ratings for short-term Bank facilities to IND A4+/RWE from IND A4+ and long-term loan facilities rating to IND BB+/ RWE from IND BB+/ Negative. CARE Ratings also revised long-term bank facilities (Fund Based) as CARE BB+; (Under credit watch with positive implications); from CARE BB+; Stable.
Godawari Power & Ispat rose 0.53%. Godawari Power & Ispat said it has commenced commercial production at the Rolling Mill (capacity 4,00,000 tonnes per annum) and Iron Ore Beneficiation Plant having capacity of 10,00,000 tons per annum.
Bajaj Healthcare fell 2.15%. Bajaj Healthcare said that the Company has executed agreement with Vetpharma to purchase its manufacturing facilities of bulk drug and API comprising of immovable properties and movable properties including plant and machineries.
Global Markets:
Overseas, Asian stocks were trading lower on Wednesday as a US warning to Americans to prepare for the possibility of a coronavirus pandemic drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows.
In US, stocks closed with the Dow Jones Industrial Average registering its worst two day loss on record on Tuesday, after the Centers for Disease Control and Prevention warned Americans to prepare for a coronavirus outbreak and investors attempted to assess the impact of the epidemic in China on global trade and travel.
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