Key benchmark indices were trading near flat line in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 23.61 points or 0.06% at 36,565.24. The Nifty 50 index was down 10.40 points or 0.09% at 11,008.50.
Among secondary barometers,the BSE Mid-Cap index was down 0.07%. The BSE Small-Cap index was down 0.21%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On BSE, 365 shares rose and 484 shares fell. A total of 48 shares were unchanged.
Overseas, Asian shares declined. Market in Japan is closed for a holiday on Monday. Meanwhile, China on Monday posted second-quarter GDP growth of 6.7% from a year ago, slightly lower than 6.8% in the first quarter of 2018.
In US, the Dow on Friday moved above the 25,000 level for the first time in nearly a month while the technology-powered Nasdaq to a record, underlining an uptrend that has been driven by signs of economic strength and solid quarterly earnings.
On the US data front, the cost of import goods fell sharply in June to mark the biggest drop in about a year and a half, though the respite is unlikely to continue once tariffs between the US and other countries go into effect. A read on consumer sentiment fell to a six-month low of 97.1 in July.
Back home, IT major Infosys was up 0.21%. On a consolidated basis, Infosys' net profit declined 2.1% to Rs 3612 crore on 5.8% rise in revenues to Rs 19128 crore in Q1 June 2018 over Q4 March 2018. Financial year ending March 2019 revenue guidance in constant currency was retained at 6%-8%, while operating margin guidance was retained at 22%-24%. The result was announced after market hours on Friday, 13 July 2018.
Infosys board of directors also considered, approved and recommended a bonus issue of one equity share for every equity share held and a stock dividend of one American Depositary Share (ADS) for every ADS held, as on a record date to be determined.
Aurobindo Pharma was up 0.82%. The company announced the signing of a definitive agreement to acquire from Apotex International Inc. (Apotex), its commercial operations and certain supporting infrastructure in five European countries. The acquisition is in line with Aurobindo's strategy to strengthen and grow its European business and to expand in Eastern Europe. The announcement was made on Saturday, 14 July 2018.
Bajaj Corp was up 0.22%. The company's net profit declined 2.2% to Rs 53.77 crore on 6.76% rise in total income to Rs 222.58 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on Friday, 13 July 2018.
CCL Products (India) was up 0.30%. The company's consolidated net profit rose 45.93% to Rs 39.46 crore on 18.23% rise in total income to Rs 294.77 crore in Q1 June 2018 over Q1 June 2017. The result was announced on Saturday, 14 July 2018.
Just Dial was up 1.91%. The company scheduled a board meeting on 20 July 2018 consider and approve the proposal to buy-back fully paid-up equity shares of the company. The announcement was made after market hours on Friday, 13 July 2018.
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