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Sensex regains 39,000

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Local stocks logged strong gains helped by strong buying demand in index pivotals in late trade. The barometer index, the S&P BSE Sensex, gained 489.80 points or 1.27% at 39,054.68. The index gained 150.20 points or 1.3% at 11,726.15. The Sensex regained the psychological 39,000 level in late trade.

Key indices edged higher in early trade on positive Asian stocks. Stocks hovered in positive zone in morning trade. Key indices traded in a small range with positive bias in mid-morning trade. Key equity benchmarks were trading with small gains in afternoon trade. Stocks extended gains in mid-afternoon trade. Strong buying demand propelled the key indices to intraday high in late trade.

The S&P BSE Mid-Cap index rose 0.43%. The S&P BSE Small-Cap index rose 0.42%.

The market breadth, indicating the overall health of the market, was just about negative. On the BSE, 1247 shares rose and 1249 shares fell. A total of 158 shares were unchanged.

ACC lost 3.07%. Consolidated net profit rose 38.20% to Rs 345.99 crore on 8.23% increase in net sales to Rs 3,849.63 crore in Q1 March 2019 over Q1 March 2018. The result was announced after market hours yesterday, 23 April 2019.

Operating EBITDA for the quarter registered a growth of 8% to Rs 532 crore as against Rs 492 crore during the same quarter of the previous year. rose 5.63% to 7.5 million tonnes in Q1 March 2019 over Q1 March 2018.

The prices of fuel and slag rose in the quarter, which were mitigated by market initiatives, sustained cost reduction initiatives viz. material source-mix & fuel mix optimization and productivity improvement measures. Plant capacity utilization improved during the quarter. Strict controls on third party spend resulted in lower fixed cost as well as & Administrative expenses (SG&A) on year on year basis.

In its outlook, ACC said that predictions of a normal monsoon augur well for the rural economy. The government's continued thrust on infrastructure development as well as Housing-for-All initiatives are expected to invigorate the construction sector and stimulate

advanced 5.51% after consolidated net profit rose 127.13% to Rs 1013 crore on 17.14% rise in net sales to Rs 10739 crore in Q4 March 2019 over Q4 March 2018. rose 30% to Rs 2459 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 24 April 2019.

In its outlook, said the started witnessing pick-up in demand since FY2018, achieving double digit growth since the last 2 years, after a period of tepid growth. However, there continues to be relatively low increase in new capacity. Incremental capacity added during the year has been 12 mtpa against incremental demand of around 38 million tons, which resulted in improving industry capacity utilisation and will further help in improving the demand-supply balance.

rose 2.23%. rose 5.41%. rose 4.87%. announced that the (RBI) through its letter dated 22 April 2019 has granted its final approval to to acquire upto 9.9% of the paid-up voting equity capital of post proposed amalgamation of with The amalgamation scheme remains subject to approvals from the and the respective shareholders and creditors of and Bandhan Bank. The announcement was made after market hours yesterday, 23 April 2019.

fell 0.26%. introduced the New Alto, which has been India's best-selling car for 15 consecutive years. Keeping years of trust and faith in mind, drives in the New with enhanced safety features and captivating design. The New now comes with BS-VI compliant engine, nearly a year before the regulation being mandated. The announcement was made after market hours yesterday, 23 April 2019.

Overseas, most European shares declined as market participants monitored the latest flurry of corporate results. Asian stocks were mixed on Wednesday.

In US, the S&P 500 index and the Nasdaq registered record closing highs after a broadbased rally on Tuesday, as a clutch of better-than-expected earnings reports eased concerns about a slowdown. The Dow Jones Industrial Average rose 145.34 points, or 0.55%, to 26,656.39, the S&P 500 gained 25.71 points, or 0.88%, to 2,933.68 and the Nasdaq Composite added 105.56 points, or 1.32%, to 8,120.82.

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

First Published: Wed, April 24 2019. 15:53 IST