A bout of volatility was witnessed as key benchmark indices bounced back from the day's low in morning trade. At 10:20 IST, the barometer index, the S&P BSE Sensex, was up 59.23 points or 0.17% at 34,474.81. The Nifty 50 index was up 27.95 points or 0.26% at 10,592.
The Sensex rose 84.97 points, or 0.25% at the day's high of 34,500.55 in morning trade. The index fell 156.31 points, or 0.45% at the day's low of 34,259.27 in early trade, its lowest intraday level since 13 April 2018. The Nifty 50 rose 28.75 points, or 0.27% at the day's high of 10,592.80 in morning trade. The index fell 49.10 points, or 0.46% at the day's low of 10,514.95 in early trade, its lowest intraday level since 13 April 2018.
Among secondary barometers, the BSE Mid-Cap index was up 0.21%. The BSE Small-Cap index was up 0.57%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,196 shares rose and 844 shares fell. A total of 117 shares were unchanged.
Metal shares declined. Hindustan Zinc (down 1.22%), National Aluminium Company (down 1.16%), Tata Steel (down 0.72%), Hindustan Copper (down 0.71%), Jindal Steel & Power (down 0.64%), Hindalco Industries (down 0.61%), NMDC (down 0.61%), Steel Authority of India (down 0.44%) and JSW Steel (down 0.31%), edged lower. Vedanta was up 0.31%.
Most FMCG shares rose. Jyothy Laboratories (up 2.39%), Marico (up 0.84%), Dabur India (up 0.68%), Godrej Consumer Products (up 0.63%), Colgate Palmolive (India) (up 0.53%), Britannia Industries (up 0.32%), Bajaj Corp (up 0.28%) and Procter & Gamble Hygiene & Health Care (up 0.07%), edged higher. Hindustan Unilever (down 0.54%), Tata Global Beverages (down 0.8%), GlaxoSmithKline Consumer Healthcare (down 1.01%) and Nestle India (down 1.28%), edged lower.
HDFC Bank was down 1.05%. The bank reported 20.3% rise in net profit to Rs 4799.28 crore on 18.5% increase in total income to Rs 25549.66 crore in Q4 March 2018 over Q4 March 2017. The result was announced on Saturday, 21 April 2018.
Total capital adequacy ratio (CAR) as per Basel III guidelines was at 14.8% as on 31 March 2018 (14.6% as on 31 March 2017) as against a regulatory requirement of 10.875% including Capital Conservation Buffer of 1.875%. Tier 1 CAR was at 13.2% as of 31 March 2018 compared to 12.8% as of 31 March 2017. Risk-weighted Assets were at Rs 800,126 crore (as against Rs 640,030 crore as at 31 March 2017). The bank's board of directors has recommended a dividend of Rs 13 per share for the year ended 31 March 2018.
Overseas, Asian stocks were trading lower as investors kept an eye on rising US Treasury yields.
US stocks ended lower on Friday, as weakness in technology and consumer staples shares offset the latest batch of corporate earnings, which largely continued to beat expectations. While earnings were the primary driver of sentiment last week, investors lately grew concerned about a jump in bond yields that reflect rising inflation expectations.
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