Key benchmark indices were trading lower in early trade, mirroring negative leads from Asian markets and overnight slide on the Wall Street. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 136.44 points or 0.37% at 36,834.65. The Nifty 50 index was down 44.35 points or 0.40% at 11,025.05.
Among secondary barometers,the BSE Mid-Cap index was down 0.39%. The BSE Small-Cap index was down 0.18%.
The market breadth, indicating the overall health of the market, was negative. On BSE, 313 shares rose and 508 shares fell. A total of 26 shares were unchanged.
Overseas, stocks in Asia slipped on Friday amid growing concerns over the trade fight between the US and China. President Donald Trump on Thursday said he would not meet with Chinese President Xi Jinping before the 2 March deadline to reach a Chinese-US trade deal.
Meanwhile, a round of weak data from the European Union underscored global growth concerns. German industrial production unexpectedly fell by 0.4% in December from the month before. Meanwhile, the European Commission cut its growth forecast for the shared currency bloc Thursday, predicting that the 19-member eurozone will collectively grow by just 1.3% this year, down from the 1.9% forecast in November.
US stock benchmarks on Thursday finished the session firmly lower as worries about sluggish growth outside of the US and diminishing expectations for a quick resolution to a US-China trade spat, buffeted markets.
The number of Americans applying for jobless benefits fell in the week ended 2 February by 19,000 to 234,000.
Back home, Tata Motors slumped 20.07% to Rs 146.20. The company reported consolidated net loss of Rs 26992.54 crore in Q3 December 2018 as compared to net profit of Rs 1198.63 crore in Q3 December 2017. Total income rose 4.37% to Rs 77582.71 crore in Q3 December 2018 over Q3 December 2017. The result was announced after market hours yesterday, 7 February 2019.
In a separate announcement made after market hours yesterday, 7 February 2019, Jaguar Land Rover retail sales in January 2019 were 43,733 vehicles, down 10.9% compared to January last year. Strong sales of E-PACE, IPACE and refreshed Range Rover and Range Rover Sport were more than offset by continuing market weakness in China and the run out of the Range Rover Evoque, ahead of the introduction of the all new Evoque later this quarter.
Aurobindo Pharma was up 1.17%. The company's consolidated net profit grew 19.7% to Rs 712.22 crore on 21.2% rise in net sales to Rs 5175.26 crore in Q3 December 2018 over Q3 December 2017. The announcement was made after market hours yesterday, 7 February 2019.
Britannia Industries was down 1.28%. The company's consolidated net profit rose 13.8% to Rs 300.07 crore on 10.5% rise in net sales to Rs 2827.40 crore in Q3 December 2018 over Q3 December 2017. The announcement was made after market hours yesterday, 7 February 2019.
The New India Assurance Company was down 1.15%. The company reported net loss of Rs 113.52 crore in Q3 December 2018 against a net profit of Rs 617.29 crore in in Q3 December 2017. Net sales rose 8.46% to Rs 5503.06 crore in Q3 December 2018 over Q3 December 2017. The announcement was made after market hours yesterday, 7 February 2019.
Gillette India was up 0.05%. The company's net profit fell 8.1% to Rs 53.99 crore on 16.7% rise in net sales to Rs 475.66 in Q2 December 2018 over Q2 December 2017. The announcement was made after market hours yesterday, 7 February 2019.
CEAT was up 0.15%. The company said that it has commissioned the commercial production of the the Truck Bus Radial (TBR) Tyres at the expansion phase of the Halol plant yesterday, 7 February 2019. The announcement was made after market hours yesterday, 7 February 2019.
Sun Pharma Advanced Research Company was down 1.55%. The company said it is receipt of an 'Order' from the Office of the Commissioner of GST & Central Excise, Mumbai East Commissionerate, demanding the payment of Service Tax along with Penalty aggregating to Rs 46.04 crore along with interest under section 75 of the Finance Act, 1994. The company would contest the demand and would be filing an appropriate appeal against the Order within the stipulated period. The announcement was made after market hours yesterday, 7 February 2019.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)