Sensex hits day's high above 40,000

Key indices trimmed gains after an initial upmove triggered by buying demand in index pivotals. At 9:27 IST, the barometer index, the S&P BSE Sensex, was up 126.60 points or 0.32% at 39,958.44. The Nifty 50 index was up 33.05 points or 0.28% at 11,819.90. The Sensex was trading below the psychological 40,000 level after hitting intraday high above that level in early trade.

The S&P BSE Mid-Cap index was up 0.44%. The S&P BSE Small-Cap index was up 0.5%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 811 shares rose and 352 shares fell. A total of 61 shares were unchanged.

Among stocks, Petronet LNG gained 4.07% after the company reported 90.09% surge in consolidated net profit to Rs 1089 crore on 13.04% fall in total income to Rs 9449.70 crore in Q2 September 2019 over Q2 September 2018. The announcement was made after market hours yesterday, 29 October 2019.

Wipro rose 0.67% after the company announced the opening of the next generation engineering and innovation center in Richmond, Virginia, to accelerate innovation for local startups and clients. The announcement was made after market hours yesterday, 29 October 2019.

Bandhan Bank lost 3.08%. The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on the bank for non-compliance with the guidelines on promoter holding contained in 'Guidelines for Licensing of New Banks in Private Sector' dated 22 February 2013. This penalty has been imposed in exercise of powers vested in RBI taking into account the default committed by the bank in complying with the aforesaid licensing guidelines and conditions.

SKF India fell 2.45%. The company reported 0.38% rise in net profit to Rs 84.62 crore on 2.17% fall in total income to Rs 770.42 crore in Q2 September 2019 over Q2 September 2018. The announcement was made after market hours yesterday, 29 October 2019.

Tata Metaliks declined 2.51%. The company reported 50.79% drop in net profit to Rs 23.39 crore on 5.73% fall in total income to Rs 517.06 crore in Q2 September 2019 over Q2 September 2018. The announcement was made after market hours yesterday, 29 October 2019.

InterGlobe Aviation rose 1.82%. IndiGo has placed a firm order for 300 A320neo Family aircraft. This marks one of Airbus' largest aircraft orders ever with a single airline operator. This latest IndiGo order comprises a mix of A320neo, A321neo and A321XLR aircraft. This will take IndiGo's total number of A320neo Family aircraft orders to 730. The announcement was made after market hours yesterday, 29 October 2019.

Lemon Tree Hotels gained 2.1%. The company has entered into Udaipur, with the launch of our 139 rooms new upscale hotel - Aurika, Udaipur. With opening of this Hotel, the company operates 59 Hotels including managed properties across 36 cities in India. The announcement was made after market hours yesterday, 29 October 2019.

Overseas, Asian shares were trading lower on Wednesday ahead of the outcome of the US Federal Reserve policy meeting. Also, there are signs that a Sino-U.S. first-stage trade deal could be delayed.

U.S. stocks ended with small losses on Tuesday as trade headlines and a spate of corporate earnings.

The US Federal Reserve began its two-day policy meeting yesterday, 29 October 2019 and interest rate decision will be announced today, 30 October 2019. A third consecutive interest rate cut of 25 basis points is widely expected, as the central bank attempts to avert a slowdown that has gripped much of the developed world.

Powered by Capital Market - Live News