Indices trade near flat line; auto stocks advance

Indices traded sideways with minor gains in morning trade. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 40.26 points or 0.1% at 40,342.22. The Nifty 50 index was up 8.6 points or 0.07% at 11,949.90. Sentiments remained positive backed by strength in other Asian stock markets.

The broader market traded almost flat. The S&P BSE Mid-Cap index was up 0.04%. The S&P BSE Small-Cap index was up 0.08%.

The market breadth was positive. On the BSE, 998 shares rose and 828 shares fell. A total of 103 shares were unchanged. In Nifty 50 index, 30 stocks advanced and 20 stocks declined.

On the macro front, India Services PMI data for October 2019 will be unveiled on today, 5 November 2019.

Among the Nifty companies, Tech Mahindra and Titan Company will announce their Q2 results today.

Berger Paints (up 0.51%), Godrej Properties (down 1.06%), Dabur (down 0.1%), Future Enterprises (up 1.2%), Ajanta Pharma (up 2.12%), BEML (down 0.4%), Torrent Power (down 0.84%), Divi's Laboratories (down 0.68%), GATI (up 1.91%), NCC (down 0.52%), Punjab National Bank (up 1.39%), Procter & Gamble Hygiene and Health Care (down 0.71%), GE T&D India (down 0.4%), Grindwell Norton (down 0.56%), JMC Projects (up 5.51%) and Gillette India (up 0.71%) are some of the companies that will announce their Q2 earnings today.

Buzzing Index:

The Nifty Auto index snapped two day losing streak. The Nifty Auto index was up 0.66% at 8,335.40.

TVS Motors Company (up 2.37%), Tata Motors (up 1.63%), Ashok Leyland (up 1.46%), Hero MotoCorp (up 1.18%), Bajaj Auto (up 1.12%), Maruti Suzuki India (up 0.86%) and SML Isuzu (up 0.23%) edged higher.

Stocks in spotlight:

Bharat Electronics slumped 4.73% to Rs 113.80 after consolidated net profit fell 40.9% to Rs 343.85 crore on a 19.1% decline in net sales to Rs 2663.57 crore in Q2 September 2019 over Q2 September 2018. The company's order book as on 1 October 2019 stood at Rs 56,178 crore, of which orders worth Rs 7088 crore were received during the quarter ended on 30 September 2019. The company announced its Q2 2019 results after market hours yesterday.

Biocon was down 2.18% at 257.95. The company informed that it received an establishment inspection report (EIR) from the U.S. Food and Drug Administration (FDA) for its Biologics Drug Product facility in Bengaluru. Biocon had undergone a routine surveillance current good manufacturing practice (CGMP) inspection of this drug product facility in Bengaluru from 22 to 30 August 2019. The receipt of EIR indicates a successful closure of this inspection.

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