Key benchmark indices were trading almost flat in early trade. At 9:21 IST, the barometer index, the S&P BSE Sensex, was down 5.70 points or 0.02% at 36,577.04. The Nifty 50 index was almost flat at 10,911.90.
Among secondary barometers,the BSE Mid-Cap index was up 0.34%. The BSE Small-Cap index was up 0.05%.
The market breadth, indicating the overall health of the market, was almost even. On BSE, 536 shares rose and 500 shares fell. A total of 49 shares were unchanged.
Overseas, most Asian markets remained closed for public holidays. US stocks closed higher Monday, as investors looked ahead to another week of high-profile earnings and developments in US-China trade talks.
US-China trade talks will remain in focus as a March 1 deadline to avoid an increase on tariffs on Chinese imports looms. On the US data front, US factory orders fell by 0.6% in November.
Back home, Coal India was down 0.02%. The company said that its board of directors has approved the buyback proposal of equity shares not exceeding 4.46 crore equity shares at Rs 235 per share for an aggregate consideration not exceeding Rs 1050 crore on a proportionate basis through the tender offer route. Coal India has fixed record date as 15 February 2019 for the purpose of ascertaining the eligibility of the shareholders to participate in the buyback. The announcement was made after market hours yesterday, 4 February 2019.
Bharat Financial Inclusion was down 0.16%. The company yesterday assigned a pool of receivables of an aggregate value of Rs 751.19 crore to one of the largest private sector banks on a Direct Assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the seventh Direct Assignment transaction in FY19. The announcement was made after market hours yesterday, 4 February 2019.
Godrej Agrovet was down 3.25%. On a consolidated basis, Godrej Agrovet's net profit fell 17.45% to Rs 40.92 crore on 17.53% rise in total income to Rs 1462.27 crore in Q3 December 2018 over Q3 December 2017. The announcement was made after market hours yesterday, 4 February 2019.
SRF was up 0.39%. On a consolidated basis, SRF's net profit rose 26.28% to Rs 165.71 crore on 38.88% rise in total income to Rs 1969.26 crore in Q3 December 2018 over Q3 December 2017. The announcement was made after market hours yesterday, 4 February 2019.
Future Retail was up 1.73%. The company's net profit rose 9.99% to Rs 201.43 crore on 12.99% rise in total income to Rs 5306.28 crore in Q3 December 2018 over Q3 December 2017. The announcement was made after market hours yesterday, 4 February 2019.
On the economic front, fiscal deficit for the first nine months of the current fiscal, that is April-December, crossed 112.4% of the Budget Estimate (BE). Fiscal deficit for the first nine months is more than Rs 7.01 lakh crore as against the BE of Rs 6.24 lakh crore.
According to the data released by the Controller General of Accounts (CGA), the revenue receipts of the government totalled Rs 10.84 lakh crore or 62.8% of BE in 2018-2019 till December, compared with 66.9% during the same period last year.
Tax revenue was 63.2% of BE, compared with 73.4% in the comparable period of the previous year. The total expenditure of the government at December-end was Rs 18.32 lakh crore or 75% of BE.
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