Domestic shares advanced on first trading day of the week, in line with most Asian stocks. The market breadth, indicating the overall health of the market, was positive. The Sensex settled above 38,900 level.
Indices opened higher and extended gains in mid-morning trade. Positive cues from other Asian markets boosted investors sentiment. Trading was range bound in early afternoon trade. Benchmarks firmed up further and hit fresh intraday high in mid-afternoon trade.
The barometer index, the S&P BSE Sensex, rose 138.73 points or 0.36% to 38,905.84. The index hit high of 38,976.58 and low of 38,780.08 in intraday trade.
Among secondary barometers, the BSE Mid-Cap index rose 0.49%. The BSE Small-Cap index rose 0.62%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1455 shares rose and 1128 shares fell. A total of 217 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE Metal index (up 2.24%), the S&P BSE Realty index (up 1.57%), the S&P BSE Auto index (up 1.43%) outperformed the Sensex. The S&P BSE Oil & Gas index (down 0.42%), the S&P BSE Energy index (down 0.04%), the S&P BSE Capital Goods index (up 0.07%) underperformed the Sensex.
TCS rose 4.78% after the company declared its Q4 result after market hours on Friday, 12 April 2019. On a consolidated basis, Tata Consultancy Services (TCS) reported 0.26% rise in net profit to Rs 8126 crore on 1.82% rise in total income to Rs 39203 crore in Q4 March 2019 over Q3 December 2018.
Revenue growth continued to accelerate in BFSI, crossing over into double digits (+11.6% vs +8.6% in Q3). Growth was broad-based, with most verticals showing strong growth: Life Sciences & Healthcare (+18.2%), Energy & Utilities (+11.3%), Communications & Media (+10%), Retail & CPG (+9.9%) and Manufacturing (+9.2%).
All major markets showed strong growth momentum. Growth was led by UK (+21.3%) and Europe (+17.5%). Other markets continued to grow well: North America (+9.9%), Asia Pacific (+11.5%), India (+11.3%) and Latin America +16.2%.
Commenting on the Q4 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, TCS, said that the company's order book is bigger than in the prior three quarters, and the deal pipeline is robust.
Infosys lost 2.83% after the company declared its Q4 result after market hours on Friday, 12 April 2019. On a consolidated basis, Infosys reported 12.88% rise in net profit to Rs 4074 crore on 0.23% rise in total income to Rs 22204 crore in Q4 March 2019 over Q3 December 2018.
Infosys has given FY2020 revenue guidance in the range of 7.5%-9.5% in constant currency and operating margin guidance in the range of 21%-23%.
Salil Parekh, CEO and MD, Infosys, said the company has completed the first year of transformation journey with strong results on multiple dimensions including revenue growth, performance of our digital portfolio, large deal wins, and client metrics.
Infosys has declared a final dividend of Rs 10.50 per equity share for the financial year ended 31 March 2019.
Shares of Metropolis Healthcare settled at Rs 959.55 on BSE, a premium of 9.04% over the initial public offer price of Rs 880. The stock debuted at Rs 960 on BSE, a premium of 9.09% to the initial public offer (IPO) price of Rs 880. It hit a high of Rs 981.30 and low of Rs 934.80. On BSE, 6.13 lakh shares were traded on the counter.
The initial public offer (IPO) of Metropolis Healthcare received bids for 4.47 crore shares, as per the National Stock Exchange of India (NSE) data. The issue was subscribed 5.84 times. The issue opened for subscription on 3 April 2019 and closed on 5 April 2019. The price band for the issue was fixed at Rs 877 to Rs 880 per share.
Cosmo Films surged 10.14%. The company has recently introduced a cast polypropylene (CPP) film for packaging applications requiring high moisture & oxygen barrier and high hot tack properties. The announcement was made after market hours on Friday, 12 April 2019.
Quick Heal Technologies rose 1.13%. The company said that the buyback committee has fixed 26 April 2019 as the record date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback offer of the company. The announcement was made on Saturday, 13 April 2019.
On the economic front, the Wholesale Price Index (WPI)-based inflation, base year 2011-12, increased to 3.2% in March 2019 from 2.9% in February 2019 and 10-month low of 2.8% in January 2019. The WPI inflation is retained unchanged at 2.8% for January 2019 from 2.8% reported earlier. The data was released during trading hours today, 15 April 2019.
India's industrial production (base year 2011-12=100) growth moderated sharply to 20-month low of mere 0.1% in February 2019, compared with 1.4% growth recorded in January 2019. The industrial production growth for January 2019 has been revised downwards from 1.7% increase reported provisionally. The data was released after market hours on Friday, 12 April 2019.
The all-India general Consumer Price Index (CPI) inflation rose to 2.86% in March 2019 (new base 2012=100), compared with 2.57% in February 2019. However, the core CPI inflation eased to 5.02% in March 2019 compared with 5.29% in February 2019. The data was released after market hours on Friday, 12 April 2019.
Overseas, most shares in Europe and Asia rose on Monday with investors reacting to developments in US-China trade talks. Investors also cheered Chinese data on Friday showing exports rebounded in March to a five-month high while new bank loans jumped by far more than expected.
Over the weekend, US Treasury Secretary Steve Mnuchin said he was hopeful the US-China trade talks would soon come to a close. He said Saturday that a US-China trade deal would go "way beyond" previous agreements between the two nations, and that the two sides were "close to the final round" of negotiations, media reported.
US stocks closed higher Friday after a series of strong bank earnings boosted confidence in the US economy.
On the data front, US import prices rose sharply in March for the second straight month. The import price index climbed 0.6% last month after a revised 1% gain in February. Further, the University of Michigan said its consumer sentiment index fell to 96.9 in April.
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