Market opens higher

Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 82.10 points or 0.22% at 37,418.95. The Nifty 50 index was up 21.40 points or 0.19% at 11,299.75.

Among secondary barometers,the BSE Mid-Cap index was up 0.20%, underperforming the Sensex. The BSE Small-Cap index was up 0.37%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 671 shares rose and 291 shares fell. A total of 38 shares were unchanged.

Overseas, Asian stocks declined as markets took cues from declines in Wall Street's last session, with focus this week shifting to the Bank of Japan.

The Bank of Japan (BoJ) will declare its interest rate decision on Tuesday, 31 July 2018. BoJ left its key short-term interest rate unchanged at -0.1% at its June 2018 meeting.

US stocks closed lower Friday, 27 July 2018, following disappointing results from Twitter Inc. and bellwethers, including Exxon and Intel.

US second-quarter GDP grew at 4.1%, with a jump in consumer spending and business investment contributing to the figure. That was the quickest pace of growth since 2014. Separately, consumer sentiment fell to a six-month low in July, the University of Michigan said.

Meanwhile, the Federal Reserve's Federal Open Market Committee will embark on its two-day meeting on Tuesday, with the central bank expected to announce its decision during Wednesday, 1 August 2018, US hours.

Back home, Reliance Industries (RIL) was up 1.21%. On a consolidated basis, RIL reported 4.47% rise in net profit to Rs 9485 crore on 50.58% rise in total income to Rs 130544 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on Friday, 27 July 2018.

HCL Technologies was up 1.38%. On a consolidated basis, HCL Technologies reported 9.01% rise in net profit to Rs 2431 crore on 5.36% rise in total income to Rs 14,203 crore in Q1 June 2018 over Q4 March 2018. The result was announced after market hours on Friday, 27 July 2018.

ICICI Bank was up 2.98%. The company reported net loss to Rs 119.55 crore in Q1 June 2018 as compared to net profit of Rs 2049 crore in Q1 June 2017. Total income rose 10.25% to Rs 18574.17 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on Friday, 27 July 2018.

NTPC was up 1.26%. The company reported 1.15% fall in net profit to Rs 2588.14 crore on 11% rise in total income to Rs 23000.09 crore in Q1 June 2018 over Q1 June 2017. The result was announced on Saturday, 27 July 2018.

Prestige Estates Projects was down 1.27%. On a consolidated basis, Prestige Estates Projects reported 9.49% rise in net profit to Rs 130.40 crore on 24.31% fall in total income to Rs 989.60 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on Friday, 27 July 2018.

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