Key indices are trading lower in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 37.29 points or 0.09% at 40,078.77. The Nifty 50 index was down 15.55 points or 0.13% at 11,824.90.
The S&P BSE Mid-Cap index was down 0.39%. The S&P BSE Small-Cap index was up 0.04%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 564 shares rose and 662 shares fell. A total of 48 shares were unchanged.
On the macro front, the all-India general CPI inflation jumped to 4.62% in October 2019 (new base 2012=100), compared with 3.99% in September 2019. The corresponding provisional inflation rate for rural area was 4.29% and urban area 5.11% in October 2019 as against 3.24% and 4.78% in September 2019.
Among stocks, Bharat Heavy Electricals (Bhel) fell 1.14%. Bhel reported 40.74% rise in consolidated net profit to Rs 121.70 crore on 8.18% fall in total income to Rs 6367.03 crore in Q2 September 2019 over Q2 September 2018.
Indiabulls Housing Finance lost 2.34%. Indiabulls Housing Finance said that the company has made timely payment of interest / principal (as the case may be) in respect of Secured Redeemable Non- Convertible Debentures (NCDs) issued by company, on private placement basis.
Aurobindo Pharma lost 7.52%. Aurobindo Pharma said that the United States Food and Drug Administration (US FDA) inspected company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4 to 13 November 2019. At the end of the inspection, the company was issued a 'Form 483' with 14 observations. None of these observations are related to data integrity issues. The company will respond to the US FDA within the stipulated timeline.
Cadila Healthcare rose 2.34%. Cadila Healthcare reported 74.32% fall in consolidated net profit to Rs 107.20 crore on 13.43% rise in total income to Rs 3393.50 crore in Q2 September 2019 over Q2 September 2018.
Bata India gained 4.2% after the company reported 29.97% rise in consolidated net profit to Rs 71.30 crore on 7.53% rise in total income to Rs 739.67 crore in Q2 September 2019 over Q2 September 2018.
Overseas, most Asian stocks were trading higher on Thursday as investors awaited key Chinese data. Japan's economy grew an annualised 0.2% in the third quarter, slowing sharply from a revised 1.8% expansion in April-June, preliminary gross domestic product (GDP) data released by the government showed on Thursday.
In US, the Dow Jones Industrial Average and the S&P 500 posted record closing highs on Wednesday helped by a big jump in Walt Disney shares, but the Nasdaq fell as stocks were kept in check by fresh uncertainty over U.S.-China trade relations.
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