Indices trade with marginal losses

Key indices were trading with small losses after witnessing volatility in morning trade. The Nifty hovered around the 12,100 mark. At 10:18 IST, the barometer index, the S&P BSE Sensex, was down 35.08 points or 0.09% at 41,222.66. The Nifty 50 index was down 23.05 points or 0.19% at 12,090.40.

The broader market declined. The S&P BSE Mid-Cap index was down 0.3% while the S&P BSE Small-Cap index was down 0.47%.

The market breadth turned negative. On the BSE, 725 shares rose and 1104 shares fell. A total of 116 shares were unchanged. In Nifty 50 index, 20 stocks advanced while 30 stocks declined.

Economy:

India's exports declined 1.7% to $25.97 billion in January 2020 over a year ago. Meanwhile, merchandise imports fell at slower pace of 0.7% to $41.14 billion. The trade deficit rose 0.9% to $15.17 billion in January 2020 from $14.73 billion in January 2019.

Services exports increased 11.6% to $20 billion in December 2019 over December 2018. Meanwhile, India's services imports moved up 10.4% to $12.56 billion in December 2019. India's services trade surplus galloped 13.7% to $7.45 billion in December 2019 from $6.55 billion in December 2018.

India's foreign exchange reserves jumped by US$ 1.70 billion and stood at record high of $473 billion in the week ended 7 February 2020. The foreign exchange reserves had stood at $471.30 a week ago.

Q3 Earnings:

Huhtamaki PPL (down 0.34%), Kaira Can (up 0.28%) and First Source Soultions (up 1.32%) are some of the companies that will announce their Q3 2019 earnings today.

Q3 Results Impact:

IRB Infrastructure Developers declined 4.63% after the road construction major declared disappointing Q3 2019 numbers after market hours on Friday, 14 February 2020. On a consolidated basis, net profit slumped 27% to Rs 159.73 crore in Q3 December 2019 as against Rs 218.9 crore in Q3 December 2018. Consolidated net sales fell 2.6% to Rs 1742.64 crore in Q3 December 2019 over Q3 December 2018.

Edelweiss Financial Services slumped 9.16% to Rs 80.3 after the NBFC reported weak Q3 2019 numbers after market hours on Friday, 14 February 2020. On a consolidated basis, net profit tumbled 92.6% to Rs 16.71 crore in Q3 December 2019 as against Rs 226.11 crore posted in Q3 December 2018. Total income declined 8.5% to Rs 2649.56 crore in Q3 December 2019 over Q3 December 2018.

Muthoot Finance jumped 3.80%. The NBFC's consolidated net profit surged 63.7% to Rs 841.09 crore in Q3 December 2019 (Q3 FY20) as against net profit of Rs 513.92 crore in Q3 December 2018 (Q3 FY19). Total income rose 35.8% year-on-year (YoY) to Rs 2,587.40 crore in Q3 FY20. The Kerala-based non-banking financial company (NBFC) reported a consolidated loan assets under management (AUM) for the nine month of current fiscal at Rs 43,436 crore, against Rs 35,939 crore in the year-ago period, an increase of 21%.

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