Market trades higher; breadth positive

Key benchmark indices were trading higher in early trade. At 9:21 IST, the barometer index, the S&P BSE Sensex, was up 52.59 points or 0.14% at 37,371.12. The Nifty 50 index was up 27.75 points or 0.25% at 11,249.80.

Among secondary barometers,the BSE Mid-Cap index was up 0.13%. The BSE Small-Cap index was up 0.28%.

The market breadth, indicating the overall health of the market, was positive. On BSE, 548 shares rose and 334 shares fell. A total of 31 shares were unchanged.

Overseas, Asian shares were mostly higher Wednesday, following a recent slump amid escalating tensions on the US-China trade front.

Growth in China's industrial output for April increased 5.4% year-on-year from a 4-1/2 year high in March.

US stocks advanced on Tuesday, paring heavy losses sparked by a raging US-China trade war over the past week. US President Donald Trump on Tuesday called the escalating dispute with China "a little squabble" but said Washington was still considering extending tariffs to another $300 billion worth of Chinese merchandise.

Back home, Nestle India was up 1.44%. The company reported 9.26% rise in net profit to Rs 463.28 crore on 9.33% rise in total income to Rs 3076.14 crore in Q1 March 2019 over Q1 March 2018. The result was announced after market hours yesterday, 14 May 2019.

PTC India was down 0.37%. The company reported 16.33% fall in net profit to Rs 53.86 crore on 22.68% rise in total income to Rs 2673.25 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 14 May 2019.

Endurance Technologies was up 3.66%. The company reported 27.75% rise in consolidated net profit to Rs 148.65 crore on 9.39% rise in total income to Rs 1905.98 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 14 May 2019.

Tribhovandas Bhimji Zaveri was down 6.66%. The company reported 83.38% slide in net profit to Rs 1.17 crore on 4.31% fall in total income to Rs 417.93 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 14 May 2019.

Meanwhile, the southwest monsoon is likely to make its onset over the Indian coast around 4 June 2019, private weather forecasting agency Skymet said on Tuesday. The 4 June prediction comes with an error margin of two days.

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