Key benchmark indices were trading lower in early trade, tracking negative leads from Asian markets. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 52.15 points or 0.15% at 34,363.43. The Nifty 50 index was down 6.15 points or 0.06% at 10,557.90.
Among secondary barometers,the BSE Mid-Cap index was flat. The BSE Small-Cap index was up 0.05%. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was positive. On BSE, 631 shares rose and 616 shares fell. A total of 69 shares were unchanged.
Overseas, Asian stocks were trading lower as investors kept an eye on rising US Treasury yields.
US stocks ended lower on Friday, as weakness in technology and consumer staples shares offset the latest batch of corporate earnings, which largely continued to beat expectations. While earnings were the primary driver of sentiment last week, investors lately grew concerned about a jump in bond yields that reflect rising inflation expectations.
Back home, HDFC Bank was down 0.33%. The bank reported 20.3% rise in net profit to Rs 4799.28 crore on 18.5% increase in total income to Rs 25549.66 crore in Q4 March 2018 over Q4 March 2017. The result was announced on Saturday, 21 April 2018.
Indiabulls Housing Finance was up 1.49%. The company reported 22.58% rise in consolidated net profit to Rs 1030.37 crore on 23.02% increase in total income to Rs 3967.22 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 20 April 2018.
Kitex Garments was up 1.86%. The company said that a meeting of board of directors of the company will be held on 25 April 2018 to consider proposals for further investments. The announcement was made on Saturday, 21 April 2018.
Unichem Laboratories was up 7.64%. The company said that the company's formulation manufacturing facility at Ghaziabad was inspected by the USFDA from 16 April 2018 to 20 April 2018. The inspection concluded with zero observations. This inspection also covered one of the first to file molecules. The announcement was made after market hours on Friday, 20 April 2018.
Indian Hume Pipe Company was up 5.86%. The company has secured a work order of Rs 578.50 crore from Madhya Pradesh Jal Nigam Maryadit for Kundaliya Multi Village Rural Water Supply Scheme District - Rajgarh, Madhya Pradesh. The announcement was made on Saturday, 21 April 2018.
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