Key benchmark indices were trading higher in early trade. The Sensex was trading above 40,000 mark and the Nifty was trading above 12,000 level.
At 9:23 IST, the barometer index, the S&P BSE Sensex, was up 217.86 points or 0.55% at 40,049.83. The Nifty 50 index was up 61.80 points or 0.52% at 12,007.70.
Among secondary barometers,the BSE Mid-Cap index was up 0.45%. The BSE Small-Cap index was up 0.26%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 738 shares rose and 405 shares fell. A total of 57 shares were unchanged.
Overseas, Asian shares were mixed Friday, as the ongoing trade fight between the US and China also continues to weigh on markets, following a recent escalation in rhetoric.
China's official manufacturing Purchasing Managers' Index (PMI) for May came in at 49.4. PMI readings above 50 indicate expansion, while those below that signal contraction.
Trading in US index futures indicated that the Dow Jones Industrial Average could fall 150.50 points at the opening bell today, 31 May 2019. The move came after US President Donald Trump announced that fresh tariffs would be slapped on all Mexican goods starting from 10 June.
US stocks ended higher on Thursday, but gains were capped as worries over the global economy and trade lingered. In economic news, the second read on first-quarter US GDP showed the economy expanded by 3.1% on an annualized basis.
Back home, Coal India was up 2.59%. The company's consolidated net profit jumped 362.47% to Rs 6024.23 crore on 6.32% rise in total income to Rs 30365.84 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 30 May 2019.
ONGC was down 0.91%. The company's net profit dropped 31.62% to Rs 4044.60 crore on 4.71% rise in total income to Rs 29008.74 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 30 May 2019.
National Aluminium Company was up 0.30%. The company's net profit fell 9.13% to Rs 233.59 crore on 2.15% fall in total income to Rs 2863.89 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 30 May 2019.
IDBI Bank was down 1.84%. The bank reported net loss of Rs 4918.44 crore in Q4 March 2019 as compared with net loss of Rs 5662.76 crore in Q4 March 2018. Total income fell 16.41% to Rs 6616.06 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 30 May 2019.
India's Q4 gross domestic product (GDP) growth data will release after 17:30 IST today, 31 May 2019.
On the political front, Narendra Modi took oath as the country's Prime Minister for a second term on Thursday. His cabinet ministers include, Raj Nath Singh, Amit Shah, Nitin Jairam Gadkari, D. V. Sadananda Gowda, Nirmala Sitharaman, Ramvilas Paswan, Narendra Singh Tomar, Ravi Shankar Prasad, Harsimrat Kaur Badal, Thaawar Chand Gehlot, Subrahmanyam Jaishankar, Ramesh Pokhriyal 'Nishank', Arjun Munda, Smriti Zubin Irani, Harsh Vardhan, Prakash Javadekar, Piyush Goyal, Dharmendra Pradhan, Mukhtar Abbas Naqvi, Pralhad Joshi, Mahendra Nath Pandey, Arvind Ganpat Sawant, Giriraj Singh and Gajendra Singh Shekhawat.
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