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Negative market breadth

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Stocks cut losses and were trading with small losses in morning trade after an initial setback triggered by negative Asian stocks. At 10:28 IST, the barometer index, the Sensex, was down 38.33 points or 0.11% at 34,154.32. The index was down 8.85 points or 0.08% at 10,471.75. Most IT stocks rose. gained.

A bout of volatility was seen in early trade as the key benchmark indices cut losses after a gap-down opening triggered by negative Asian stocks. The Sensex regained the psychological 34,000 level soon after an initial slide pulled it below that level in opening trade.

The Mid-Cap index was up 0.01%. The Small-Cap index was up 0.16%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,150 shares fell and 943 shares rose. A total of 153 shares were unchanged.

Overseas, most Asian stocks were trading lower as investors assess airstrikes against over the weekend and focus on the start of earnings season in the US as well as speeches by Federal Reserve officials. US stocks fell on Friday, 13 April 2018 as weakness in shares of banks and added to the political and trade tensions weighing on the market.

US declared mission accomplished via on Saturday, a day after the US, and the UK launched military strikes in response to Syrian leader Bashar al-Assad's on civilians.

Back home, most IT stocks rose. (up 1.6%), TCS (up 0.38%), (up 0.63%), (up 0.92%), (up 0.29%) and (up 0.61%) rose. (down 0.43%), (down 0.36%) and (down 0.54%) fell.

IT dropped 2.99% reacting to its Q4 March 2018 results declared after market hours on Friday, 13 April 2018. Infosys' consolidated net profit fell 28.1% to Rs 3690 crore on 1.6% increase in revenues to Rs 18083 crore in Q4 March 2018 over Q3 December 2017. The result are under International Financial Reporting Standards (IFRS).

On a consolidated basis, net profit grew 11.7% to Rs 16029 crore in the year ended 31 March 2018 over the year ended 31 March 2017. Revenues were Rs 70522 crore in the year ended 31 March 2018, a year on year (YoY) growth of 3% in reported terms and a growth of 5.8% in constant currency terms.

expects consolidated revenues to grow 6%-8% in constant currency in the fiscal year ending 31 March 2019 (FY 2019). It expects consolidated revenues to grow 8.2%-10.2% in rupee terms in FY 2019.

On 13 April 2018, entered into a definitive agreement to acquire WongDoody Holding Company, Inc., a US-based digital creative and consumer insights agency for a total consideration of up to $75 million including contingent consideration and retention payouts, subject to regulatory approvals and fulfillment of closing conditions.

rose. (up 0.25%), ACC (up 0.36%), (up 0.06%) gained. (down 0.34%) fell.

was up 2.21%. Grasim has exposure to the through its holding in

rose 5.16% to Rs 644 at 10:00 IST on after net profit rose 18.16% to Rs 130.51 crore on 16.39% increase in total income to Rs 484.31 crore in Q4 March 2018 over Q4 March 2017. The result was announced on Saturday, 14 April 2018.

said disbursements during the year ended 31 March 2018 amounted to Rs 5259 crore as compared to Rs 4125 crore during the corresponding period in previous year, representing a growth of 27%. Loan assets have increased from Rs 13244 crore as on 31 March 2017 to Rs 15568 crore as on 31 March 2018, registering a growth of 18%.

said that its board recommended issuing bonus shares in the ratio of 1:1 (i.e. 1 equity share for each equity share held as on the record date to be fixed for the purpose) to the shareholders of the company.

On the macro front, India's merchandise exports fell 0.7% to US$ 29.11 billion in March 2018 over a year ago. Meanwhile, merchandise imports moved up 7.1% to US$ 42.80 billion. The trade deficit jumped 28.6% to US$ 13.69 billion in March 2018 from US$ 10.65 billion in March 2017. The data was released by the after market hours on Friday, 13 April 2018.

Merchandise exports in rupees declined 1.9% to Rs 189271 crore, while imports moved up 5.8% to Rs 278297 crore in March 2018 over March 2017. The trade deficit rose to Rs 89026 crore in March 2018 compared with Rs 70127 crore in March 2017.

India's merchandise exports increased 10% to US$ 302.84 billion, while merchandise imports surged 19.7% to US$ 459.67 billion in April-March 2018. An increase in imports was driven by a 25.7% jump in to US$ 109.11 billion. India's merchandise trade deficit galloped to US$ 156.83 billion in April-March 2018 from US$ 108.92 billion in April-March 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 10:35 IST
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