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  • 09

    Aug
    2019

    Indices extend early gains; breadth strong

    The benchmark indices extended gains and hit fresh intraday high in morning trade. At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 274.21 points or 0.73% at 37,601.57. The Nifty 50 index was up 89 points or 0.81% at 11,121.45.

    The S&P BSE Mid-Cap index was up 0.90%. The S&P BSE Small-Cap index rose 1.15%.

    The market breadth, indicating the overall health of the market, was strong. On the BSE, 1307 shares rose and 491 shares fell. A total of 91 shares were unchanged.

    Bharat Petroleum Corporation (up 0.06%), Britannia Industries (up 0.55%), GAIL (down 0.16%) and Hindalco (up 0.83%) will announce their Q1 June 2019 results today.

    IT stocks were mixed. Persistent Systems (up 2.56%), Oracle Financial Services Software (up 1.32%), MindTree (up 0.41%) and HCL Technologies (up 0.21%) advanced.

    TCS (down 0.44%), Tech Mahindra (down 0.26%), Infosys (down 0.25%), Wipro (down 0.19%) and MphasiS (down 0.05%) declined.

    Hexaware Technologies jumped 7.33%. On a consolidated basis, the company`s net profit rose 19.07% to Rs 164.89 crore on a 3.51% rise in the net sales to Rs 1308.34 crore in Q2 June 2019 over Q1 March 2019. The result was announced after market hours yesterday, 8 August 2019.

    Adani Transmission gained 3.44%. On a consolidated basis, the private transmission company`s net profit rose 26% to Rs 213.42 crore on a 360.5% rise in the net sales to Rs 2858.08 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 8 August 2019.

    Fertilizer stocks rose. National Fertilizers (up 2.8%), Deepak Fertilisers & Petrochemicals Corporation (up 2.58%), Fertilisers & Chemicals Travancore (up 2.36%), Gujarat State Fertilizers & Chemicals (up 1.3%), Coromandel International (up 0.91%) and Chambal Fertilisers & Chemicals (up 0.1%) advanced.

    Tata Chemicals gained 2.42%. The chemicals company`s consolidated net profit rose 19% to Rs 245.18 crore on 5.6% rise in net sales to Rs 2896.94 crore in Q1 June 2019 over Q1 June 2018. The result was announced after the market hours yesterday, 8 August 2019.

    Earnings before interest tax depreciation and amortization (EBITDA) grew 20.57% to Rs 592 crore in Q1 June 2019 as compared to Rs 491 crore in Q1 June 2018. The company`s net debt dropped 4.49% to Rs 1871 crore in Q1 June 2019 as compared to Rs 1959 crore in Q4 March 2018.

    Rashtriya Chemicals & Fertilizers lost 0.97%. On a consolidated basis, the fertilizer producer`s net profit fell 65.3% to Rs 7.98 crore on a 24% rise in the net sales to Rs 2409.48 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 8 August 2019.

    Clariant Chemicals (India) jumped 13.03%. The specialty chemicals manufacturing company`s net profit rose 16.9% to Rs 11.27 crore on a 11.9% rise in the net sales to Rs 295.81 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 8 August 2019.

    Engineers India rose 4.70%. On a consolidated basis, the engineering consultancy company`s net profit rose 40.5% to Rs 125.73 crore on a 27.4% rise in the net sales to Rs 742.66 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 8 August 2019.

    Overseas, most Asian stocks were trading higher on Friday supported by overnight gains in US stocks and better-than-expected macro-economic data from China.

    China released data showing that food inflation soared in July. Meanwhile, Japan`s economy grew more than expected in the quarter ending June.

    China`s consumer price index in July rose 2.8% on-year, according to data from the National Bureau of Statistics. In particular, food prices soared in July to 9.1% from a year ago, amid surging prices of pork as the country battles African swine fever.

    Japan`s economy saw its third straight quarterly expansion in April-June, growing at an annualized rate of 1.8% in the period, according to government data on Friday.

    US stocks advanced on Thursday with technology shares providing the biggest boost as equities continued to rebound along with bond yields.

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NIFTY 10829.35 img 88.00

SENSEX 36701.16 img 228.23

GOLD 37599.00

SILVER 43708.00

1 USD / INR 71.67

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