Market drifts higher in early trade

Domestic stocks nudged higher in early trade on positive Asian stocks. At 9:27 IST, the barometer index, the S&P BSE Sensex, was up 104.44 points or 0.27% at 38,966.67. The Nifty 50 index was up 20.40 points or 0.17% at 11,686.35

The S&P BSE Mid-Cap index was up 0.28%. The S&P BSE Small-Cap index was up 0.47%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 855 shares rose and 390 shares fell. A total of 83 shares were unchanged.

Overseas, Asian shares edged higher on Monday as investors cheered a much-needed rebound in US payrolls, while looking forward to more policy stimulus in China.

US stocks rose on Friday, boosted by better-than-expected job growth in March, which eased concerns of an economic slowdown that have periodically roiled financial markets over the past year.

Back home, HDFC Bank rose 0.9%. HDFC Bank announced after market hours on Friday, 5 April 2019, that its advances aggregated to approximately Rs 8,19,500 crore as of 31 March 2019 as compared to Rs 6,58,300 crore as of 31 March 2018 and Rs 7,81,000 crore as of 31 December 2018.

The bank's deposits aggregated to approximately Rs 9,23,000 crore as of 31 March 2019 as compared to Rs 7,88,800 crore as of 31 March 2018 and Rs 8,52,500 crore as of 31 December 2018. The bank's CASA ratio stood at around 42% as compared to 43.5% as of 31 March 2018 and 40.7% as of 31 December 2018. During the quarter ended 31 March 2019, the bank purchased loans aggregating Rs 1,924 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation.

Infosys rose 0.97%. Infosys announced after market hours on Friday, 5 April 2019, that it has strengthened its capabilities and presence in the turbomachinery and propulsion space with the opening of a new Infosys office in Baden, Switzerland. This office is part of Infosys' overall growth strategy of helping clients navigate their digital transformation journeys and will play an integral role in providing clients in the energy and aviation industries, the latest innovations in the fossil and renewable energy markets and aerospace.

HDFC shed 0.09%. HDFC announced after market hours on Friday, 5 April 2019, that during the quarter ended 31 March 2019, it assigned loans amounting to Rs 2,418 crore compared to nil in the corresponding quarter of the previous year. Income from dividend for the quarter ended 31 March 2019 was Rs 537 crore compared to Rs 332 crore in the corresponding quarter of the previous year. During the quarter ended 31 March 2019, the profit on sale of investments in subsidiary/associate companies was 314 crore compared to Rs 272 crore in corresponding quarter of the previous year.

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