Key benchmark indices trimmed gains after hitting record levels in morning trade. The sentiment was positive after the United States and China ended some uncertainties for the world economy by signing a partial trade agreement. At 10:28 IST, the S&P BSE Sensex, was up 50.15 points or 0.12% at 41,922.88. The Nifty 50 index was up 5.7 points or 0.05% at 12,349.
The S&P BSE Mid-Cap index was up 0.47%. The S&P BSE Small-Cap index was up 0.56%. Both these indices outperformed the BSE Sensex.
The market breadth was strong. On the BSE, 1223 shares rose and 659 shares fell. A total of 107 shares were unchanged.
India's trade deficit narrowed 22.3% to $11.25 billion in December 2019 from $14.49 billion in the same month a year ago. Imports fell 8.8% year-on-year to $38.61 billion, the 7th straight drop. Exports fell 1.8% year-on-year to $27.36 billion, the 5th straight annual fall.
In April-December, the trade deficit narrowed sharply to $118.10 billion from $148.23 billion the same period in the previous fiscal year, the Ministry of Commerce & Industry said in a statement on Wednesday, 15 January 2020.
Hathway Cable & Datacom (up 2.52%), Karnataka Bank (up 1.99%), Tata Metaliks (up 1.36%), Rallis India (up 1.3%), Cyient (up 0.98%), Aditya Birla Money (up 0.25%) and 5Paisa Capital (down 0.38%) are some of the companies that will announce their Q3 2019 results today.
Den Networks rose 3.98%. The cable TV and broadband service provider reported a net profit of Rs 19.36 crore in Q3 December 2019 as against a net loss of Rs 32.38 crore in Q3 December 2018. The company reported a 3.1% rise in net sales to Rs 318.08 crore on YoY basis.
Sterlite Technologies fell 3.92%. The company reported a 63.85% decline in net profit to Rs 52.63 crore in the quarter ended December 2019 as against Rs 145.60 crore during the previous quarter ended December 2018. Company's net sales declined 9.9% to Rs 1202.66 crore in the quarter ended December 2019 as against Rs 1334.87 crore during the previous quarter ended December 2018.
Stocks in Spotlight:
Yes Bank (up 2.14%) is banned from trading in NSE's F&O segment after the security crossed 95% of market wide position limit.
Avanti Feeds jumped 5.27% to Rs 734, extending its recent gains to third consecutive session. The stock has advanced 19.5% in just three trading days from its previous closing low of Rs 614.25 on 13 January 2020. The stock hit an intraday high of Rs 734.1 which is also a 52-week high.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)