Stocks edged lower in early trade, with the Sensex falling below the psychological 38,000 level. At 9:30 IST, the barometer index, the S&P BSE Sensex, was down 83.57 points or 0.22% at 37,940.80. The Nifty 50 index was down 20.70 points or 0.18% at 11,450.
The S&P BSE Mid-Cap index was up 0.1%. The S&P BSE Small-Cap index was up 0.12%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 848 shares rose and 757 shares fell. A total of 81 shares were unchanged.
Overseas, most Asian stocks slipped with investors assessing the impact of the latest tit-for-tat in the trade war as well as sanctions on Russia. US stocks faded into the close to cap a second day of losses yesterday, 9 August 2018 amid selling in industrial and financial shares.
Back home, GAIL (India) shed 0.45% ahead of its April-June 2018 result today, 10 August 2018.
Hindalco Industries fell 0.51% ahead of its April-June 2018 result today, 10 August 2018.
State Bank of India lost 1.37% ahead of its April-June 2018 result today, 10 August 2018. Meanwhile, SBI said that executive committee of central board (ECCB) accorded approval to explore and initiate the process of divestment upto 4% of stake of SBI in SBI General Insurance Company to a non-promoter entity through small parcel share sale (SPSS). The announcement was made after market hours yesterday, 9 August 2018.
Eicher Motors rose 2.62%. On a consolidated basis, net profit of Eicher Motors rose 25.36% to Rs 576.18 crore on 27.24% rise in net sales to Rs 2534.29 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours yesterday, 9 August 2018.
In the quarter ended June 2018, Royal Enfield posted its best ever performance. Royal Enfield sold 225,286 motorcycles in Q1 June 2018, registering a growth of 23% over 183,731 motorcycles sold in the same period last year.
On the macro front, the government will declare industrial production (IIP) data for June at 17:30 IST today, 10 August 2018.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
