Key indices ended with modest losses after a volatile session of trade. The barometer index, the S&P BSE Sensex, fell 64.20 points or 0.18% at 35,592.50. The Nifty 50 index fell 9.35 points or 0.09% at 10,652.20. The market breadth, indicating the overall health of the market, was negative. Global cues were mixed.
Domestic stocks were trading lower in early trade on negative Asian stocks. A bout of volatility was seen in morning trade as fresh selling derailed a brief intraday recovery. Stocks hovered with small losses in mid-morning trade. Key indices continued to trade with weakness in early afternoon trade. Indices extended losses and hit fresh intraday low in afternoon trade. Weakness persisted on the bourses in mid-afternoon trade. Stocks erased intraday losses to regain positive zone in late trade.
The S&P BSE Mid-Cap index rose 0.39%. The S&P BSE Small-Cap index fell 0.1%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1135 shares rose and 1379 shares fell. A total of 146 shares were unchanged.
Axis Bank rose 0.74% ahead of its October-December 2018 quarterly result today, 29 January 2019.
HCL Technologies gained 1.24% ahead of its October-December 2018 quarterly result today, 29 January 2019.
Bajaj Finance advanced 4.43% after consolidated net profit rose 54% to Rs 1060 crore on 48% increase in total income to Rs 4995 crore in Q3 December 2018 over Q3 December 2017. The result was announced during trading hours today, 29 January 2019.
On a consolidated basis, Net Interest Income (NII) rose 46% to Rs 3,209 crore in Q3 December 2018 over Q3 December 2017. New loans booked during Q3 December 2018 increased by 49% to 6.77 million from 4.54 million in Q3 December 2017. Customer franchise as of 31 December 2018 increased by 31% to 32.57 million from 24.81 million as of 31 December 2017. Assets under Management (AUM) as of 31 December 2018 grew by 41% to Rs 1,09,930 crore from Rs 78,033 crore as of 31 December 2017.
Gross Non-performing asset (NPA) and Net NPA, recognized as per extant RBI prudential norms and provisioned as per Expected Credit Loss (ECL) method prescribed in lnd AS, as of 31 December 2018 stood at 1.55% and 0.62% respectively. The provisioning coverage ratio stood at 60%. Standard assets provisioning was 88 bps as per ECL (stage 1 & 2) provisioning under lnd AS versus 40 bps as per RBI prudential norms.
HDFC fell 0.74%. HDFC after net profit fell 60.12% to Rs 2113.80 crore on 19.77% increase in total income to Rs 10569.12 crore in Q3 December 2018 over Q3 December 2017. The result was announced during trading hours today, 29 January 2019.
HDFC said that its board approved issuance of secured redeemable non-convertible debentures under a shelf disclosure document (Series - V), aggregating to Rs 45000 crore, in various tranches, on a private placement basis. Further, the board also approved appointment of Ireena Vittal as an independent director (additional director) on the Board of Directors of the Corporation for a period of 5 years with effect from 30 January 2019.
Mahindra & Mahindra (M&M) shed 0.45%. Mahindra's Truck and Bus Division (MTB), a part of the Mahindra Group, announced during trading hours today, 29 January 2019, the commercial launch of the FURIO, its brand-new range of Intermediate Commercial Vehicles (ICVs) with an unprecedented guarantee of More Profit or Truck Back. FURIO marks the company's entry into the ICV segment and is set to make Mahindra a full range commercial vehicle player. To be available across India from today, FURIO prices start at Rs 17.45 lakh for the FURIO12 19ft HSD variant and Rs 18.10 lakh for the FURIO14 19ft HSDvariant (ex-showroom Pune).
Overseas, European shares were trading higher on Tuesday, as investors flocked to stocks considered safe in times of economic uncertainty after a series of profit alerts from US companies and amid continued worries about trade frictions.
Most Asian shares edged lower on Tuesday as prospects for a long-awaited U.S-China trade deal was dealt another blow after the United States leveled sweeping criminal charges against China's telecom giant Huawei. The US Justice Department unsealed indictments against China's top telecom equipment maker, Huawei, accusing it of bank and wire fraud to evade Iran sanctions and conspiring to steal trade secrets from T-Mobile US Inc.
US stocks closed lower Monday in the wake of disappointing earnings and Nvidia Corp. Investors turned cautious at the start of a busy week packed with earnings, economic data, a Federal Reserve meeting and a new round of U.S-China trade talks.
On the data front, the Federal Reserve of Chicago's national activity index rose to 0.27 in December, up from 0.21 in November. Growth in Texas manufacturing activity accelerating in January, according to the Federal Reserve Bank of Dallas. It's monthly manufacturing index rose from 7.3 to 14.5.
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