The market extended gains hit fresh intraday high in mid-afternoon trade. At 14:27 IST, the S&P BSE Sensex, gained 302.70 points or 0.73% at 41,689.10. The Nifty 50 index was up 82.75 points or 0.68% at 12,263.10.
Buying was seen across the board. The S&P BSE Mid-Cap index gained 1% while the S&P BSE Small-Cap index was up 0.60%.
The market breadth was positive. On the BSE, 1417 shares rose and 1021 shares fell. A total of 159 shares were unchanged. In Nifty 50 index, 38 stocks advanced while 12 stocks declined.
Stocks in Spotlight:
EIH Associated Hotels rose 4.32% to Rs 308.15. On standalone basis, the company reported a 17.5% rise in net profit to Rs 20.37 crore in Q3 December 2019 as against Rs 17.33 crore reported in Q3 December 2018. Net sales for the quarter rose 1.2% to Rs 85.82 crore on YoY basis. Profit before tax stood at Rs 28.67 crore in Q3 December 2019, up by 6.6% from Rs 26.90 crore in Q3 December 2018.
Atul added 3.33% to Rs 4529.45. On a consolidated basis, Atul's net profit jumped 45.66% to Rs 169.68 crore in Q3 December 2019 as against Rs 116.49 crore reported in Q3 December 2018. Revenue from operations rose 0.96% to Rs 1,041.41 crore on year-on-year basis. Profit before tax stood at Rs 226.92 crore in Q3 December 2019, up by 26.56% from Rs 179.30 crore in Q3 December 2018.
Ultratech Cement advanced 0.48% to Rs 4551.25. On consolidated basis, Ultratech Cement's net profit soared 89% to Rs 711.92 crore in Q3 December 2019 as against Rs 376.71 crore reported in Q3 December 2018. The cement company's consolidated revenue from operations declined 0.86% to Rs 10353.8 crore on YoY basis. Profit before tax (PBT) stood at Rs 997.43 crore in Q3 December 2019, up by 68.89% from Rs 590.59 crore in Q3 December 2018.
Numbers to Track:
The yield on 10-year benchmark federal paper fell to 6.594% at 14:26 IST compared with 6.596% in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was trading at 71.29, compared with its previous closing low of 71.26.
In the commodities market, Brent crude for March 2020 settlement was up 18 cents a barrel or 0.29% at $62.22 per barrel. The contract fell $1.17 or 1.85% to settle at $62.04 a barrel in the previous session. Crude oil prices fell to their lowest in seven weeks on Thursday, on concern that the spread of a respiratory virus from China may lower fuel demand.
MCX Gold futures for 5 February 2019 settlement fell 0.73% to Rs 39,987.
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