Key equity barometers further extended gains and hit fresh intraday high in mid-afternoon trade. The Sensex crossed the 37,000 level and the Nifty crossed the 11,000 mark. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 500.52 points or 1.36% at 37,200.36. The Nifty 50 index was up 141.20 points or 1.30% at 11,003.80.
The S&P BSE Mid-Cap index was up 1.42%. The S&P BSE Small-Cap index rose 1.62%.
The market breadth was strong. On the BSE, 1574 shares rose and 737 shares fell. A total of 115 shares were unchanged.
Dewan Housing Finance Corporation jumped 8.58%. The company said that the Special Committee for Resolution Plan at its meeting held today i.e. on Tuesday, 6 August, 2019, took on record the draft 'Resolution Plan' formulated by the company in consultation with the committee and its financial advisors and also approved the submission of the said resolution plan to the lenders of the company.
Some of the features of the draft 'Resolution Plan' are no principal haircuts to any creditors, measures towards addressing aligning asset-liability mismatch, moratorium on repayments and funding plans for starting the retail funding activity. The announcement was made during market hours today, 6 August 2019.
Kolte-Patil Developers jumped 13.89% after the company announced its Q1 June 2019 result during market hours today, 6 August 2019. On a consolidated basis, Kolte-Patil Developers's net profit rose 205.51% to Rs 115.88 crore on a 49.96% rise in the revenue from operations to Rs 585.68 crore in Q1 June 2019 over Q1 June 2018.
Minda Industries gained 2.40% after the company announced its Q1 June 2019 result during market hours today, 6 August 2019. On a consolidated basis, Minda Industries' net profit fell 23.65% to Rs 53.48 crore on a 0.69% rise in the revenue from operations to Rs 1439.75 crore in Q1 June 2019 over Q1 June 2018.
Aditya Birla Fashion and Retail rose 3.09% after the company announced its Q1 June 2019 result during market hours today, 6 August 2019. Aditya Birla Fashion and Retail's net profit rose 285% to Rs 21.56 crore on a 7.94% rise in the revenue from operations to Rs 2065.46 crore in Q1 June 2019 over Q1 June 2018.
Most FMCG stocks advanced. Tata Global Beverages (up 3.97%), Godrej Consumer Products (up 2.33%), Dabur India (up 1.66%), GlaxoSmithKline Consumer Healthcare (up 1.35%), Marico (up 1.26%), Nestle India (up 1%), Colgate Palmolive (India) (up 0.82%), Hindustan Unilever (up 0.59%) and Jyothy Laboratories (up 0.39%) advanced.
Bajaj Corp (down 3.36%), Procter & Gamble Hygiene & Health Care (down 0.45%) and Britannia Industries (down 0.4%) declined.
Media stocks were in the spotlight. Eros International Media (up 5%), TV Today Network (up 2.97%), Siti Networks (up 2.62%), TV18 Broadcast (up 2.50%), Network 18 Media Investments (up 1.74%), Balaji Telefilms (up 1.40%) and Prime Focus (up 0.26%) advanced.
Zee Entertainment Enterprises (down 6.06%), Sun TV Network (down 2.04%), Dish TV (down 1.95%), NDTV (down 0.78%) and Zee Media Corporation (down 0.09%) declined.
The yield on India's 10-year benchmark federal paper fell to 6.335% at 14:23 IST compared with 6.390% at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 70.735, compared with its close of 70.804 during the previous trading session.
MCX Gold futures for 4 October 2019 settlement fell 0.66% at Rs 37,100.
In the commodities market, Brent crude for October 2019 settlement was up 23 cents at $60.04 a barrel. The contract fell $2.08 or 3.36% to settle at $59.81 a barrel in the previous trading session.
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