The Sensex was trading with small gains while the Nifty was almost flat in early trade. At 9:22 IST, the barometer index, the S&P BSE Sensex, was up 24.40 points or 0.07% at 37,139.28. The Nifty 50 index was down 0.80 points or 0.01% at 11,156.20.
Among secondary barometers,the BSE Mid-Cap index was down 0.19%. The BSE Small-Cap index was up 0.13%.
The market breadth, indicating the overall health of the market, was almost even. On BSE, 481 shares rose and 422 shares fell. A total of 41 shares were unchanged.
Overseas, Asian shares were mixed, following reports that US President Donald Trump plans to postpone auto tariffs by up to six months. Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency to protect US computer networks from "foreign adversaries". He signed an executive order which effectively bars US companies from using foreign telecoms believed to pose national security risks.
China reported surprisingly weaker growth in retail sales for April on Wednesday. Overall retail sales in April rose 7.2% from a year earlier, data from the National Bureau of Statistics (NBS) showed.
US stocks closed higher on Wednesday after reports of delay in auto tariffs helped calm investors concern. US retail sales fell 0.2% in April, the Commerce Department said Wednesday.
Back home, Lupin was down 3.72%. The company announced the completion of the United States Food and Drug Administration (USFDA) inspection carried out at its Aurangabad manufacturing facility. The inspection was carried out from May 6 to May 15, 2019. The inspection at the Aurangabad facility closed with three observations. The company is confident of addressing them satisfactorily. The announcement was made after market hours yesterday, 15 May 2019.
Petronet LNG was down 3.35%. The company's net profit fell 15.78% to Rs 440.20 crore on 2.35% fall in total income to Rs 8534.59 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 15 May 2019.
Balaji Amines was up 0.42%. The company said that it has received consent to operate by Maharashtra Pollution Control Board for expansion of existing products cum addition of new products at Unit III at MIDC Chincholi. The announcement was made after market hours yesterday, 15 May 2019.
Zuari Agro Chemicals was down 1.17%. The company informed that after evaluation of market conditions and inventory position, one of the two Granulation plant of the company will be shut down till further intimation. The announcement was made after market hours yesterday, 15 May 2019.
On the data front, India's overall exports (merchandise and services combined) in April 2019 is estimated to be $44.06 billion, exhibiting a positive growth of 1.34% over the April 2018. Overall imports in April 2019 is estimated to be $52.83 billion, exhibiting a positive growth of 4.53% over April 2018. Taking merchandise and services together, overall trade deficit for April 2019 is estimated at $8.78 billion as compared to $7.07 billion in April 2018, the Ministry of Commerce & Industry said in a statement yesterday, 15 May 2019.
India's merchandise exports in April 2019 were $26.07 billion, as compared to $25.91 billion in April 2018, exhibiting a positive growth of 0.64%. In Rupee terms, exports were Rs 1,81,021.34 crore in April 2019, as compared to Rs 1,70,052.96 crore in April 2018, registering a positive growth of 6.45%. Merchandise imports in April 2019 were $41.40 billion (Rs 2,87,432.93 crore), which was 4.48% higher in dollar terms and 10.52% higher in Rupee terms over imports of $39.63 billion (Rs 2,60,084.67 crore) in April 2018. The merchandise trade deficit for April 2019 was estimated at $15.33 billion as against the deficit of $13.72 billion in April 2018.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)