Sensex, Nifty trade near day's low

The benchmark indices were trading near the day's low in afternoon trade. Negative global cues triggered profit selling in domestic shares after gains in past four trading sessions.

At 13:23 IST, the S&P BSE Sensex, was down 158.03 points or 0.38% at 41,148.00. The Nifty 50 index was down 50.73 points or 0.42% at 12,087.25.

The S&P BSE Mid-Cap index was up 0.05% while the S&P BSE Small-Cap index was up 0.38%. Both these indices outperformed the Sensex.

The market breadth was almost even. On the BSE, 1127 shares rose and 1174 shares fell. A total of 144 shares were unchanged. In Nifty 50 index, 26 stocks advanced while 24 stocks declined.

Stocks in Spotlight:

Among Nifty companies, Britannia Industries (up 0.32%), NTPC (up 2.28%), UPL (up 2.11%) and Tata Steel (down 0.29%) will announce their Q3 December 2019 result today.

Zee Entertainment Enterprises (up 4.33%), NTPC (up 2.68%), Hindalco Industries (up 1.83%), Bharti Infratel (up 1.29%) and Axis Bank (up 1.19%) advanced.

Eicher Motors (down 2.65%), Tata Motors (down 2.46%), IndusInd Bank (down 1.80%), Reliance Industries (down 1.69%) and Mahindra & Mahindra (down 1.57%) declined.

Adani Enterprises rose 1.65% to Rs 240.35 after Airbus India and Adani Defence & Aerospace signed an agreement on Thursday to explore opportunities for collaboration in the area of aircraft services for Indian and South Asian market. Airbus' Global Services forecast envisages the Indian aircraft services market to grow to $6.3 billion by 2025.

Wipro gained 0.43% to Rs 244.65. The IT major on Thursday said it has received a multi-year technology services contract from automotive supplier Marelli.

Sun Pharmaceutical Industries were trading 0.73% higher at Rs 434. The drug major's consolidated net profit fell 26.44% to Rs 913.52 crore in Q3 December 2019 compared with net profit of Rs 1,241.85 crore in Q3 December 2018. Total revenue from operations for the December quarter stood at Rs 8,154.85 crore, up 5.36% from Rs 7,740.19 crore in Q3 December 2018.

Hero MotoCorp rose 1.60% to Rs 2450.50. The automaker reported 16.32% rise in consolidated net profit to Rs 901.81 crore on 10.56% fall in total income to Rs 7,284.06 crore in Q3 December 2019 over Q3 December 2018. The company announced an interim dividend of 3250% amounting to Rs 65 per share.

Global Markets:

Europeans shares opened lower while most Asian stocks were trading lower on Friday as the growing death toll and economic damage from a new virus spreading from China curbed further gains. The death toll in China rose to 636 in just under a week. The number of infections stood at 31,161.

In US, markets closed higher on Thursday, seizing a fresh round of records, after the market got another shot of confidence from promised trade tariff reductions.

Beginning 14 February China would cut in half tariffs on some $75 billion of US imports, as part of its phase-one trade resolution with the U.S., according to reports from China's Ministry of Finance.

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