Market drifts higher in early trade

Key indices nudged higher in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 92.50 points or 0.24% at 39,445.17. The Nifty 50 index was up 36.05 points or 0.3% at 11,864.30.

The S&P BSE Mid-Cap index was down 0.08%. The S&P BSE Small-Cap index was up 0.27%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 756 shares rose and 598 shares fell. A total of 90 shares were unchanged.

Overseas, most Asian shares were trading higher. US stocks fell on Monday as the White House's restrictions on Chinese telecoms equipment maker Huawei Technologies Co weighed on the technology sector and raised concerns that the move would further inflame trade tensions between the United States and China.

Back home, Tata Motors dropped 4.79%. The company's consolidated net profit dropped 47.42% to Rs 1117.48 crore on 4.28% fall in total income to Rs 87718.69 crore in Q4 March 2019 over Q4 March 2018. The announcement was made after market hours yesterday, 20 May 2019.

Bharat Petroleum Corporation (BPCL) lost 3.35%. BPCL's net profit rose 16.21% to Rs 3124.91 crore on 13.56% rise in total income to Rs 75048.03 crore in Q4 March 2019 over Q4 March 2018. The announcement was made after market hours yesterday, 20 May 2019.

Hindustan Petroleum Corporation (HPCL) fell 1.81%. HPCL's net profit rose 69.91% to Rs 2969.92 crore on 11.95% rise in total income to Rs 68460.64 crore in Q4 March 2019 over Q4 March 2018. The announcement was made after market hours yesterday, 20 May 2019.

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