Cement stocks decline

Market traded with small gains in mid-morning trade. At 11:15 IST, the barometer index, the S&P BSE Sensex rose 74.59 points or 0.23% at 32,302.86. The Nifty 50 advanced 25.75 points or 0.26% at 9,990.30.

Key indices opened the session with small gains amid initial volatility. Later, indices hovered in green with small gains amid positive signals from global markets.

Globally, investors await the outcome of a two-day US Federal Reserve's policy meeting scheduled later today, 26 July 2017. Markets will be watching for any signals about another possible rise in the benchmark lending rate in 2017, and on when the Fed will begin winding down its multi-trillion-dollar investment holdings.

Among other barometers, the S&P BSE Mid-Cap index rose 0.46%. The S&P BSE Small-Cap index advanced 0.77%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,469 shares rose and 815 shares declined. A total of 119 shares were unchanged.

Cement stocks declined. ACC (down 1.14%), Shree Cement (down 0.8%), Ambuja Cements (down 0.77%), UltraTech Cement (down 0.66%) and Grasim Industries (down 0.47%) edged lower.

Auto stocks nudged higher. Mahindra & Mahindra (up 1.8%), Eicher Motors (up 1.69%), Ashok Leyland (up 0.91%) and Maruti Suzuki India (up 0.14%) advanced. Bajaj Auto (down 0.19%) and Tata Motors (down 0.02%) declined.

Hero MotoCorp rose 0.54% after net profit rose 3.49% to Rs 914 crore on 7.51% increase in gross turnover to Rs 8612.90 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.

Hero MotoCorp's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 5.35% to Rs 1295.90 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin remained steady at 16.3% in Q1 June 2017.

Pawan Munjal, Chairman, Managing Director and Chief Executive Officer of Hero MotoCorp said that in Q1 June 2017, the company further consolidated domestic motorcycle market share by clocking all time high sales. The growth in the domestic market was aided by an improvement in overall market sentiment and robust demand for company's range of two-wheelers.

With several new products planned for launch over the next few quarters from world class Centre of Innovation and Technology (CIT), the company remains committed to consolidating its domestic leadership and expanding global footprint into new markets, he added.

Overseas, most Asian stocks edged higher tracking positive session from Wall Street overnight.

US equities closed higher yesterday, 25 July 2017, after a slew of major companies reported better-than-expected quarterly results. Wall Street had also set its sights on the Federal Reserve, as the central bank kicked off a two-day monetary policy meeting yesterday, 25 July 2017.

The Federal Reserve will announce its interest rate decision later today, 26 July 2017. The Fed had raised the target range for its federal funds rate by 25 basis points to 1% to 1.25% during its June 2017 meeting.

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