The market firmed up once again in early afternoon trade. At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 155.69 points or 0.42% at 36,846.19. The Nifty 50 index was up 35.25 points or 0.32% at 10,890.75.
The S&P BSE Mid-Cap index was down 0.36%. The S&P BSE Small-Cap index fell 0.05%.
The market breadth turned negative from positive. On the BSE, 989 shares rose and 1111 shares fell. A total of 92 shares were unchanged.
Most IT stocks advanced. Infosys (up 1.6%), TCS (up 1.4%), Hexaware Technologies (up 0.73%) and Persistent Systems (up 0.04%) advanced.
MindTree (down 0.71%), MphasiS (down 0.26%) and Tech Mahindra (down 0.04%) declined.
HCL Technologies rose 3.95.The IT major's consolidated net profit fell 12.54% to Rs 2,230 crore on a 2.73% increase in net sales to Rs 16,427 crore in Q1 June 2019 compared with Q4 March 2019. The result was announced after trading hours yesterday, 7 August 2019.
The firm's consolidated EBITDA also declined 5.4% to Rs 3,225 crore in Q1 June 2019 as against Q4 March 2019. The consolidated EBITDA margin grew to 23.2% in Q1 June 2019 from 22.4% in Q4 March 2019.
Wipro gained 0.5%. The company announced that ADM Aoports de Montrl has awarded a five-year strategic IT and business transformation contract to Wipro. ADM operates YUL Montreal-Trudeau International Airport, the third largest airport in Canada, and YMX International Aocity of Mirabel.
Oracle Financial Services Software lost 1.02%. On a consolidated basis, the IT services company's net profit rose 15.76% to Rs 377.39 crore on a 4.95% rise in the net sales to Rs 1275.1 crore in Q1 June 2019 over Q4 March 2019. The result was announced after trading hours yesterday, 7 August 2019.
HPCL lost 0.41%. The company's consolidated net profit declined 55.9% to Rs 877.48 crore on 5% increase in net sales to Rs 70776.43 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 7 August 2019.
On standalone basis, the company's consolidated net profit declined 52.8% to Rs 810.95 crore on 5% increase in net sales to Rs 70710.53 crore in Q1 June 2019 over Q1 June 2018.
The average gross refining margin was at $0.75 per barrel in Q1 June 2019 as against $7.15 per barrel in Q1 June 2018.
Aurobindo Pharma jumped 6.99%. The company's consolidated net profit jumped 41.6% to Rs 645.18 crore on 28.1% increase in net sales to Rs 5356.84 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 7 August 2019.
The company's earnings before interest tax depreciation and amortization (EBITDA) increased 47.1% to Rs 1146.4 crore in Q1 June 2019 compared with Rs 779.2 crore in Q1 June 2018. The EBITDA margin was at 21.1% in Q1 June 2019 as compared to 18.3% in Q1 June 2018.
Emami rose 3.07%. On a consolidated basis, the personal care & healthcare products company's profit after tax rose 47% to Rs 39 crore on a 6% rise in the revenue from operations to Rs 649 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 8 August 2019.
Ramco Industries rose 2.22%. The cement manufacturing company's consolidated net profit rose 10.8% to Rs 61.04 crore on a 2.4% decline in net sales to Rs 321.44 crore in Q1 June 2019 compared with Q1 June 2018. The result was announced after market hours yesterday, 7 August 2019.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 70.845, compared with its close of 71.130 during the previous trading session.
On derivatives front, the NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.01% at 16.4025.
On the options front, Nifty option chain for 29 August 2019 expiry showed a maximum call open interest (OI) of 25.06 lakh contracts at the 11000 strike price. Maximum put OI of 28.84 lakh contracts was seen at 11000 strike price.
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