The market was trading in a narrow range with small gains in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 56.60 points or 0.16% at 36,374.93. The Nifty 50 index was up 20.30 points or 0.19% at 10,907.10. Key benchmark indices drifted higher in early trade on positive Asian stocks. Stocks trimmed gains in morning trade. Key indices erased intraday gains and sink in negative zone in mid-morning trade. The S&P BSE Mid-Cap index was up 0.13%. The S&P BSE Small-Cap index was up 0.39%. The market breadth, indicating the overall health of the market, was positive. On the BSE, 1252 shares rose and 1103 shares fell. A total of 138 shares were unchanged. IndusInd Bank (up 1.89%), NTPC (up 1.41%), ICICI Bank (up 1.33%), State Bank of India (up 1.16%), Larsen & Toubro (up 1.09%), ONGC (up 0.93%), Infosys (up 0.92%) and Reliance Industries (up 0.90%), were the major Sensex gainers. Asian Paints (down 0.93%), Hindustan Unilever (down 0.89%), Kotak Mahindra Bank (down 0.67%), HDFC (down 0.66%), Bajaj Finance (down 0.54%), Maruti Suzuki India (down 0.39%) and Vedanta (down 0.38%), were the major Sensex losers. Zee Entertainment Enterprises gained 1.27%. On a consolidated basis, Zee Entertainment Enterprises' net profit rose 50.56% to Rs 562.76 crore on 17.88% increase in net sales to Rs 2,166.77 crore in Q3 December 2018 over Q3 December 2018. Revenue growth was driven by the strong performance of broadcast business. EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter grew by 26.9% to Rs 754.30 crore and EBITDA margin stood at 34.8%. The result was announced after market hours yesterday, 15 January 2019. Dr Reddy's Laboratories was up 0.89%. Dr Reddy's Laboratories informed that the US Food and Drug Administration (USFDA) completed audit of the company's formulations Srikakulam plant (SEZ) Unit I, Andhra Pradesh on 15 January 2019. The company has been issued a Form 483 with 4 observations, which the firm is addressing. The announcement was made after market hours yesterday, 15 January 2019. On the macro front, trade deficit narrowed in December 2018, government data released after market hours yesterday, 15 January 2019 showed. India's merchandise exports rose 0.3% to US$ 27.93 billion in December 2018 over a year ago. Meanwhile, merchandise imports declined 2.4% to US$ 41.01 billion, leading to 7.9% dip in the trade deficit to 10-month low of US$ 13.08 billion in December 2018 from US$ 14.20 billion in December 2017. Merchandise exports in rupees increased 10.5% to Rs 197536 crore, while imports moved up 7.4% to Rs 290033 crore in December 2018 over December 2017. The trade deficit declined to Rs 92497 crore in December 2018 compared with Rs 95594 crore in December 2017. Overseas, most Asian stock markets were trading higher supported by positive sentiment to China signaling more stimulus measures to come, including larger tax cuts, amid concerns of a slowdown in the world's second-largest economy. US stocks snapped a two-session skid Tuesday, as a robust tech rally offset lackluster results from major US banks, including Dow-component JPMorgan Chase & Co. In the UK, Prime Minister Theresa May's plan to leave the European Union by a March 29 deadline was rejected overwhelmingly by the parliament, triggering more uncertainty as the country struggles to engineer an orderly exit from the trade bloc. In a crushing defeat, 432 members voted against May's proposal while 202 voted in favor. Powered by Capital Market - Live News |