Key indices are trading higher in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 187.68 points or 0.48% at 38,944.31. The Nifty 50 index was up 47.30 points or 0.41% at 11,487.35.
The S&P BSE Mid-Cap index was up 0.76%. The S&P BSE Small-Cap index was up 0.99%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1095 shares rose and 447 shares fell. A total of 93 shares were unchanged.
India's retail inflation for the month of August stood at 6.69%, data released by the National Statistical Office (NSO) on Monday showed. The consumer price index (CPI)-based inflation rate for July has been revised to 6.73% from 6.93%.
Stocks in news:
PVR fell 0.21%. PVR reported consolidated net loss of Rs 225.62 crore in Q1 June 2020, compared to net profit of Rs 17.57 crore in Q1 June 2019. Total income fell 93.76% to Rs 55.35 crore in Q1 June 2020 over Q1 June 2019.
Apollo Hospitals Enterprise gained 2.81%. The company reported consolidated net loss of Rs 208.19 crore in Q1 June 2020, compared to net profit of Rs 57.20 crore in Q1 June 2019. Total income fell 15.59% to Rs 2,179.22 crore in Q1 June 2020 over Q1 June 2019.
Raymond rose 1.23%. The company reported consolidated net loss of Rs 242.15 crore in Q1 June 2020, compared to net loss of Rs 14.85 crore in Q1 June 2019. Total income fell 84.93% to Rs 221.58 crore in Q1 June 2020 over Q1 June 2019.
Zensar surged 7.07%. The company announced the launch of its blockchain based contract management solutions for enterprises. The solutions called DICES (Distributed Intelligent Contract Enforcement System) focuses on contract enforcement while the other solution, called ZenConfluence is an enabling solution on which other applications can run.
Housing & Urban Development Corporation fell 1.84% after the company reported 39.4% slump in consolidated net profit to Rs 203.38 crore on 1.89% drop in total income to Rs 1,781.79 crore in Q1 June 2020 over Q1 June 2019.
Munjal Auto Industries dropped 3.5% after the company reported consolidated net loss of Rs 11.31 crore in Q1 June 2020, compared to net profit of Rs 4.29 crore in Q1 June 2019. Total income fell 28.32% to Rs 216.38 crore in Q1 June 2020 over Q1 June 2019.
Mirza International lost 2.1% after the company reported consolidated net loss of Rs 23.23 crore in Q1 June 2020, compared to net profit of Rs 9.54 crore in Q1 June 2019. Total income fell 72.98% to Rs 83.25 crore in Q1 June 2020 over Q1 June 2019.
Global Markets:
Asian stocks are trading mostly higher today as investors watched China's August economic data.
Retail sales rose 0.5% in August from a year ago, the first positive report for the year so far, China's National Bureau of Statistics said Tuesday. Still, retail sales for the first eight months of the year were down 8.6% from a year ago, the bureau said.
Meanwhile, industrial production in the country grew 5.6% in August from a year ago while fixed-asset investment declined 0.3% for the first eight months of the year.
In US, stocks ended sharply higher on Monday as signs of progress in developing a COVID-19 vaccine and a spurt of multibillion-dollar deals lifted investor optimism. Tech sentiment was lifted by news of Nvidia buying chipmaker Arm Holdings from SoftBank for $40 billion.
Meanwhile, ByteDance rejected Microsoft's bid to buy TikTok's U.S. operations. Instead, ByteDance has chosen Oracle to be TikTok's U.S. technology partner, and Oracle will take a significant stake in the business.
Sentiment was also boosted by signs of progress toward a coronavirus vaccine. AstraZeneca resumed phase three trials for its coronavirus vaccine in the U.K. following a halt due to safety concerns. However, its trials in the U.S. remains on hold as American regulators investigate the side effects flagged in the U.K. study, reports showed.
Back home, the main stock indices ended a roller-coaster session with modest losses on Monday. The barometer index, the S&P BSE Sensex fell 97.92 points or 0.25% at 38,756.63. The Nifty 50 index fell 24.40 points or 0.21% at 11,440.05.
Foreign portfolio investors (FPIs) bought shares worth Rs 298.22 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 120.35 crore in the Indian equity market on 14 September, provisional data showed.
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