Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 108.15 points or 0.2% at 54,662.81. The Nifty 50 index was up 36.45 points or 0.22% at 16,316.55. The Nifty moved above the 15,300 mark in opening trade. Asian stocks are trading higher.
The S&P BSE Mid-Cap index was off 0.42%. The S&P BSE Small-Cap index was down 0.8%.
The market breadth, indicating the overall health of the market, is weak. On the BSE, 782 shares rose and 1793 shares fell. A total of 74 shares were unchanged.
Stocks in news:
Power Grid Corporation of India rose 1.01%. The company reported 192.82% rise in consolidated net profit to Rs 5998.28 crore in Q1FY22 over Q1FY21. Total income rose 35.87% to Rs 13938.37 crore.
Lupin dropped 5.91%. Lupin reported 407.45% rise in consolidated net profit to Rs 542.46 crore in Q1FY22 over Q1FY21. Total income rose 20.34% to Rs 4298.18 crore.
Godrej Agrovet lost 3.16%. Godrej Agrovet reported 19.74% rise in consolidated net profit to Rs 105.98 crore in Q1FY22 over Q1FY21. Total income rose 28.15% to Rs 2014.54 crore.
Zomato gained 3.2%. Zomato reported consolidated net loss of Rs 356.20 crore in Q1FY22 as against net loss of Rs 99.80 crore in Q1FY21. Total income surged 223.32% to Rs 916.60 crore in Q1FY22 over Q1FY21.
Siemens rose 0.61%. Siemens reported consolidated net profit of Rs 138.90 crore in Q1FY22 as against net loss of Rs 1.90 crore in Q1FY21. Total income surged 128.53% to Rs 2984.20 crore in Q1FY22 over Q1FY21.
GMR Infrastructure slipped 0.18%. GMR Infrastructure said the company's board meeting on 13 August 2021 would also consider raising of funds of up to Rs 6,000 crore in one or more tranches through issue of securities including a QIP and/or FCCBs.
Global Markets:
Overseas, Asian stocks are trading higher on Wednesday following their U.S. peers higher as investors assessed the ability of the economy to sustain less stimulus and rising virus outbreaks.
Singapore's trade and industry ministry said Wednesday that the economy grew 14.7% in the second quarter compared to a year ago, better than official advance estimates of a 14.3% expansion. The country also expects its economy to grow between 6% and 7% in 2021, an upgrade from past projections of 4% to 6%.
In US, the blue-chip Dow and the benchmark S&P 500 rose to record highs on Tuesday, buoyed by gains in economically sensitive value stocks after the Senate passed a $1 trillion bipartisan infrastructure package.
The US Senate on Tuesday passed a $1 trillion infrastructure package that is a top priority for US President Joe Biden, a bipartisan victory for the White House that could provide the nation's biggest investment in decades in roads, bridges, airports and waterways.
The vote was 69-30 in the 100-seat chamber, with 19 Republicans voting yes. Immediately after that vote concluded, Senators began voting on a follow-up $3.5 trillion spending package that Democrats plan to pass without Republican votes.
Investors now await the consumer price index and producer price index data, both of which measure inflation and are scheduled to come out Wednesday and Thursday, respectively.
Back home, the domestic equity barometers ended the volatile session with small gains on Tuesday. The barometer index, the S&P BSE Sensex, added 151.81 points or 0.28% to 54,554.66. The Nifty 50 index advanced 21.85 points or 0.13% to 16,280.10.
Foreign portfolio investors (FPIs) sold shares worth Rs 178.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 689 crore in the Indian equity market on 10 August, provisional data showed.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
