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 Nifty 50 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 manufacturing sector grew slower than expected in April, according to data released on Tuesday. Meanwhile, trade negotiations between the US and China are set to resume in Beijing later in the day.
The Caixin/Markit factory Purchasing Managers' Index for April was 50.2. The reading for March was 50.8. The private PMI survey came after China's National Bureau of Statistics released official manufacturing 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, Yes Bank slumped 24.49% to Rs 179.25. The bank 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 General Elections (Lok Sabha).
Hero MotoCorp 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.
Cipla was down 0.62%. The company and its subsidiary Cipla USA, Inc., announced receipt of final approval for the Abbreviated New Drug Application (ANDA) for Ambrisentan Tablets 5mg & 10mg from the United States Food and Drug Administration (US FDA). The announcement was made before market hours today, 30 April 2019.
JSW Energy 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, Karnataka 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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