Key indices are trading higher in early trade on buying demand in index pivotals. At 9:21 IST, the barometer index, the S&P BSE Sensex, was up 226.22 points or 0.56% at 40,391.25. The Nifty 50 index was up 65.95 points or 0.55% at 11,956.55. The Sensex scaled fresh record high above 40,400 in early trade. Positive Asian stocks also boosted sentiment.
The S&P BSE Mid-Cap index was up 0.31%. The S&P BSE Small-Cap index was up 0.52%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 901 shares rose and 320 shares fell. A total of 44 shares were unchanged.
Among stocks, Yes Bank dropped 6.03% after the bank reported net loss of Rs 600.08 crore in Q2 September 2019 as compared to net profit of Rs 964.70 crore in Q2 September 2018. Total income fell 4.28% to Rs 8332.21 crore in Q2 September 2019 over Q2 September 2018.
HDFC rose 0.61% ahead of its quarterly result today, 4 November 2019.
Tata Motors slipped 0.71%. Tata Motors announced its sales in the domestic & international market for the month of October 2019, which stood at 41,354 vehicles, compared to 62,264 units during October 2018.
Hero MotoCorp fell 0.5%. Hero MotoCorp reported record retail sales in the just concluded festive period - starting from Navratra till after Diwali. In October 2019 the company despatched 599,248 units of motorcycles and scooters.
V-Mart Retail lost 4.22% after the company reported net loss of Rs 18.04 crore in Q2 September 2019 as compared to net loss of Rs 4.02 crore in Q2 September 2018. Net sales rose 19.82% to Rs 314.16 crore in Q2 September 2019 over Q2 September 2018.
Escorts fell 1.03%. Escorts reported 0.23% rise in consolidated net profit of Rs 101.74 crore on 5.57% fall in net sales to Rs 1333.77 crore in Q2 September 2019 over Q2 September 2018.
BEML lost 3.16%. BEML reported consolidated net loss of Rs 27.20 crore in Q2 September 2019 as compared to net profit of Rs 16.63 crore in Q2 September 2018. Net sales fell 6.39% to Rs 687.11 crore in Q2 September 2019 over Q2 September 2018.
Overseas, Asian stocks were trading higher as growing optimism over U.S.-China trade talks and upbeat U.S. job data boosted global investors' appetite for riskier assets.
U.S. stocks gained on Friday as the S&P 500 set a closing record for the third time in five days after an upbeat U.S. jobs report and data on Chinese manufacturing eased concerns about slowing global growth.
The United States and China both said on Friday that they had made progress in talks aimed at defusing their protracted 16-month-long trade war, and U.S. officials reportedly said a deal could be signed this month.
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