Key indices edged higher in early trade on positive Asian stocks. At 9:28 IST, the barometer index, the S&P BSE Sensex, was up 70.68 points or 0.18% at 38,635.56. The Nifty 50 index was up 21.15 points or 0.18% at 11,597.10.
The S&P BSE Mid-Cap index was up 0.08%. The S&P BSE Small-Cap index was up 0.33%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 751 shares rose and 468 shares fell. A total of 52 shares were unchanged.
Overseas, Asian stocks rose on Wednesday after upbeat earnings helped the Nasdaq and S&P 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near six-month highs.
In US, the S&P 500 index and the Nasdaq registered record closing highs after a broadbased rally on Tuesday, as a clutch of better-than-expected earnings reports eased concerns about a slowdown. The Dow Jones Industrial Average rose 145.34 points, or 0.55%, to 26,656.39, the S&P 500 gained 25.71 points, or 0.88%, to 2,933.68 and the Nasdaq Composite added 105.56 points, or 1.32%, to 8,120.82.
Back home, HDFC rose 0.99%. HDFC announced that the Reserve Bank of India (RBI) through its letter dated 22 April 2019 has granted its final approval to HDFC to acquire upto 9.9% of the paid-up voting equity capital of Bandhan Bank post proposed amalgamation of GRUH Finance with Bandhan Bank. The amalgamation scheme remains subject to approvals from the National Company Law Tribunal and the respective shareholders and creditors of GRUH Finance and Bandhan Bank. The announcement was made after market hours yesterday, 23 April 2019.
ACC lost 4.44%. On a consolidated basis, ACC's net profit rose 38.20% to Rs 345.99 crore on 8.23% increase in net sales to Rs 3,849.63 crore in Q1 March 2019 over Q1 March 2018. The result was announced after market hours yesterday, 23 April 2019.
Lupin dropped 1.5%. Lupin said it has received a letter from the US Food and Drug Administration (USFDA) classifying the inspection conducted at its Pithampur (Indore) Unit-2 facility in January 2019 as Official Action Indicated (OAI). The USFDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed. The company does not believe that this classification will have an impact on disruption of supplies or the existing revenues from operations of this facility. The company is in the process of sending further updates of its corrective actions to the USFDA and is hopeful of a positive outcome. The announcement was made after market hours yesterday, 23 April 2019.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
