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Market trades lower on negative Asian cues

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Key benchmark indices were trading lower in early trade, tracking negative leads from other Asian markets. At 9:34 IST, the barometer index, the S&P BSE Sensex, was down 112.12 points or 0.29% at 38,955.21. The index was down 38.25 points or 0.33% at 11,716.40.

Among secondary barometers,the BSE Mid-Cap index was down 1.05%. The BSE Small-Cap index was down 0.92%.

The market breadth, indicating the overall health of the market, was weak. On BSE, 425 shares rose and 937 shares fell. A total of 81 shares were unchanged.

Overseas, most Asian shares declined as China's sector grew slower than expected in April, according to data released on Tuesday. Meanwhile, trade negotiations between the US and are set to resume in later in the day.

The for April was 50.2. The reading for March was 50.8. The private PMI survey came after released official PMI for April, which came in at 50.1. PMI readings above 50 indicate expansion, while those below that signal contraction.

In US, all three major stock indices ended higher on Monday as the latest data showed softer core inflation in March while consumer spending jumped.

US consumer spending rose 0.9% in March from the prior month after a 0.1% February increase, according to a Commerce Department report Monday. The closely followed core PCE inflation was flat in March, knocking the yearly rate down to 1.6% from 1.7%. Personal incomes, meanwhile, increased 0.1% in March.

Back home, slumped 24.49% to Rs 179.25. The reported net loss of Rs 1,506.64 crore in Q4 March 2019 as compared with net profit of Rs 1,179.44 crore in Q4 March 2018. Total income rose 17.09% to Rs 8,388.23 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Friday, 26 April 2019. Domestic stock markets were closed on Monday, 29 April 2019, on account of (Lok Sabha).

was down 2.08% to Rs 2550. The company's net profit fell 24.51% to Rs 730.32 crore on 7.8% fall in total income to Rs 8,049.18 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Friday, 26 April 2019.

was down 0.62%. The company and its subsidiary USA, Inc., announced receipt of final approval for the Abbreviated New Drug Application (ANDA) for 5mg & 10mg from the Food and Drug Administration (US FDA). The announcement was made before market hours today, 30 April 2019.

was up 1.51%. The company has secured a purchase order from Telangana State Discoms of 300 MW round the clock power to be supplied from the company's Vijayanagar Power Plant, for the period from 1 July 2019 to 31 March 2020. The announcement was made on 27 April 2019.

Domestic financial market will remain closed on Wednesday, 1 May 2019, on account of Maharashtra Day.

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

First Published: Tue, April 30 2019. 09:35 IST