Key equity indices were trading with small losses in afternoon trade. At 13:21 IST, the barometer index, the S&P BSE Sensex, was down 46.78 points or 0.12% at 37,416.21. The Nifty 50 index was down 30 points or 0.27% at 11,248.90.
After opening lower, key benchmarks bounced back and hit fresh intraday high in morning trade. Indices came off day's high in mid-morning trade and swung between gains and losses in early afternoon trade.
Broader market came under selling pressure. Among secondary barometers, the BSE Mid-Cap index was down 1.01%. The BSE Small-Cap index was down 1.29%.
The market breadth, indicating the overall health of the market, was weak. On BSE, 649 shares rose and 1597 shares fell. A total of 148 shares were unchanged.
HDFC gained 1.87%. The company's net profit rose 26.8% to Rs 2861.58 crore on 24.28% rise in total income to Rs 11586.58 crore in Q4 March 2019 over Q4 March 2018. The result was announced during market hours today, 13 May 2019.
The board approved issuance of Redeemable Non-Convertible Debentures (secured or unsecured) and/or any other hybrid instruments (not in nature of equity shares) up to Rs 125000 crore on a private placement basis.
Tata Motors dropped 1.51%. The Tata Motors Group global wholesales in April 2019, including Jaguar Land Rover, were at 79,923 units, lower by 22%, over April 2018. The announcement was made during market hours today, 13 May 2019.
Hero MotoCorp rose 0.52%. In keeping with its aggressive growth strategy for the scooter segment, Hero MotoCorp today further strengthened its scooter portfolio with the launch of two powerful and stylish new scooters - Maestro Edge 125 and Pleasure+ 110 - for customers in India and across its global markets. The company will commence the retail sales of the scooters over the next few weeks. The announcement was made during market hours today, 13 May 2019.
Eicher Motors was down 5.37%. The company's consolidated net profit rose 18.05% to Rs 544.84 crore on 0.33% rise in total income to Rs 2718.25 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Friday, 10 May 2019.
Among the economic data, India's industrial production (base year 2011-12=100) declined 0.1% in March 2019, while snapping growth for last 21 straight months. The industrial production growth for February 2019 has been retained unchanged at 0.1% as reported provisionally. The data was announced after market hours on Friday, 10 May 2019.
Overseas, Asian and European stocks and US index futures declined on Monday on growing uncertainty over whether the United States and China will be able to end their escalating trade war. Markets in Hong Kong are closed on Monday for a holiday.
Trading in US index futures indicated that the Dow Jones Industrial Average could fall 339 points at the opening bell today, 13 May 2019.
Trade talks between US and Chinese negotiators broke up on Friday without a trade agreement. The US hiked tariffs on $200 billion worth of Chinese goods. China has vowed to retaliate, without giving details.
In US, stocks staged a massive reversal on Friday after President Donald Trump said conversations with China over trade will continue and his relationship with President Xi Jinping remains strong. The president also noted that the trade talks with China were "candid and constructive." Trump said the new tariffs on $200 billion worth of Chinese goods "may or may not be removed" in the future.
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