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Market opens on a firm note

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Key indices were trading firm in early trade on positive Asian stocks. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 233.33 points or 0.63% at 37,560.69. The Nifty 50 index was up 72.50 points or 0.66% at 11,104.95.

The S&P BSE Mid-Cap index was up 0.8%. The S&P BSE Small-Cap index was up 0.83%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 852 shares rose and 238 shares fell. A total of 42 shares were unchanged.

Overseas, most Asian stocks are trading higher on Friday supported by overnight gains in US stocks and better-than-expected macro-economic data from China.

US stocks advanced on Thursday with technology shares providing the biggest boost as equities continued to rebound along with bond yields.

Back home, Yes Bank rose 0.28%. Yes Bank said that the bank's board approved the qualified institutions placement issue opening on 8 August 2019 and also approved the floor price at Rs 87.90 per share. The announcement was made after market hours yesterday, 8 August 2019.

Tata Chemicals rose 5.14% after consolidated net profit rose 16.38% to Rs 239.71 crore on 4.99% rise in total income to Rs 3015.90 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after market hours yesterday, 8 August 2019.

Mahanagar Gas rose 1.97% after net profit rose 32.66% to Rs 170.24 crore on 22.55% rise in total income to Rs 777.83 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after market hours yesterday, 8 August 2019.

NBCC (India) lost 5.55% after consolidated net profit fell 37.9% to Rs 51.46 crore on 15.85% fall in total income to Rs 1942.28 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after market hours yesterday, 8 August 2019.

Page Industries dropped 3.19% after net profit fell 11.07% to Rs 110.67 crore on 2.19% rise in total income to Rs 840.46 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after market hours yesterday, 8 August 2019.

National Aluminium Company rose 1.6%. National Aluminium Company said that a joint venture agreement was signed with Mishra Dhatu Nigam to incorporate a joint venture company (JVC) with an objective for setting up of high end aluminium alloys plant for manufacturing of plates, sheets, etc. The announcement was made after market hours yesterday, 8 August 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 09 2019. 09:31 IST
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