Indices at day's high; broader markets outperform

Key benchmark indices hit a fresh intraday high in morning trade. The Nifty traded above its 20 days simple moving average placed at 12,215.92. Buying was seen across the board. At 10:31 IST, the S&P BSE Sensex, was gained 185.60 points or 0.45% at 41,572. The Nifty 50 index was up 55.25 points or 0.45% at 12,235.60.

In the broader market, the S&P BSE Mid-Cap index gained 0.67% while the S&P BSE Small-Cap index was up 0.5%. Both these indices outperformed the Sensex.

The market breadth was positive. On the BSE, 1225 shares rose and 620 shares fell. A total of 124 shares were unchanged. In Nifty 50 index, 42 stocks advanced while 8 stocks declined.

 

Q3 Earnings:

Among Nifty companies, UltraTech Cement (up 0.2%) and JSW Steel (up 1.24%) will announce their Q3 2019 earnings today, 24 January 2020.

Bank of Baroda (up 1.48%), Aavas Financiers (up 1.13%), Atul (up 0.88%), Emkay Global Financial Services (up 1.34%), EIH Hotel (up 0.92%), Indian Bank (up 2.82%), Supreme Industries (up 0.81%), Sonata Software (up 0.81%), Prestige Estates Projects (down 2.89%), ION Exchange (India) (up 0.32%), Oriental Hotels (up 0.85%) and Wendt (India) (up 1.81%) are some of the companies that will announce their Q3 December 2019 results today.

Cholamandalam Investment and Finance Company rose 0.42% to Rs 324.60. THE NBFC announced good Q3 results after market hours yesterday, 23 January 2020. On a consolidated basis, the NBFC's net profit rose 21.93% to to Rs 389.16 crore on 23.04% rise in total income to Rs 2,289.31 crore in Q3 December 2019 over Q3 December 2018. Consolidated profit before tax (PBT) rose 9.36% to Rs 522.90 crore year-on-year (YoY). On a standalone basis, net profit rose 27.6% to Rs 388.51 crore in Q3 December 2019 as against Rs 304.37 crore reported in Q3 December 2018. Total income rose 24.6% to Rs 2274.90 crore on YoY basis.

Central Depository Services (CDSL) fell 1.42% to Rs 274.5. CDSL reported muted Q3 2019 result after markets hours yesterday. On standalone basis, company's net profit declined 34.7% to Rs 14.06 in Q3 December 2019 as compared to Rs 21.52 crore reported in Q3 December 2018. Company's total income grew 6.8% to Rs 52.17 crore on YoY basis.

HDFC Life Insurance Company fell 1.5%. The life insurer reported 1.88% rise in net profit to Rs 250.24 crore on 25.21% rise in total income to Rs 11,761.74 crore in Q3 December 2019 over Q3 December 2018. Total number of lives insured grew by 29% to 4.5 crore during nine months. The company maintained its leadership position within the group segment, growing 25%, resulting in a private market share of 28.6%.

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