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Shares trade with modest gains

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The market was trading with modest gains in mid-afternoon trade. At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 318.09 points or 0.85% at 37,645.45. The Nifty 50 index was up 87.75 points or 0.80% at 11,120.20.

The S&P BSE Mid-Cap index was up 0.57%. The S&P BSE Small-Cap index rose 0.80%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1478 shares rose and 889 shares fell. A total of 145 shares were unchanged.

Spicejet rose 1.29%. On a consolidated basis, the aviation company reported a net profit of Rs 262.89 crore in Q1 June 2019 against a net loss of Rs 35.58 crore in Q1 June 2018. The total revenue from operations rose 35% to Rs 3002.85 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 9 August 2019.

Low cost air carrier Interglobe Aviation gained 0.43%.

Reports suggested that as per IATA data, India's domestic air passenger traffic rose 7.9% in June over the year ago period even as the average demand for domestic travel across seven major aviation markets declined in the reporting month to 4.4% from 4.7% earlier.

The international passenger demand rose 5.4% in June 2019 compared to the period year-ago, which was an improvement from 4.6% annual growth recorded in May. All regions recorded increase in growth, led by airlines in Africa with capacity increasing 3.4%, and load factor increasing by 1.6 percentage points to 83.8%, in the reporting month.

Prakash Industries slumped 7.85%. The integrated steel and power company's net profit fell 76.71% to Rs 37 crore on a 7.76% decrease in the net sales to Rs 825.42 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 9 August 2019.

Most realty shares rose. Housing Development and Infrastructure (HDIL) (up 4.93%), Indiabulls Real Estate (up 4.67%), D B Realty (up 3.82%), Anant Raj (up 3.58%), Unitech (up 2.11%), DLF (up 1.89%), Mahindra Lifespace Developers (up 1.41%), Peninsula Land (up 1.19%), Sunteck Realty (up 1.15%), Oberoi Realty (up 0.91%), Godrej Properties (up 0.73%), Omaxe (up 0.41%) and Sobha (up 0.28%) advanced.

Parsvnath Developers (down 2.86%), Phoenix Mills (down 1.81%) and Prestige Estates Projects (down 1.76%) declined.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 70.688, compared with its close of 70.410 during the previous trading session.

The yield on India's 10-year benchmark federal paper rose to 6.433% at 14:24 IST compared with 6.402% at close in the previous trading session.

MCX Gold futures for 4 October 2019 settlement rose 0.45% at Rs 37,927.

In the commodities market, Brent crude for October 2019 settlement was up 38 cents at $57.76 a barrel. The contract rose $ 1.15 or 2.04% to settle at $57.38 a barrel in the previous trading session.

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

First Published: Fri, August 09 2019. 14:30 IST
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