Trading for the week began on an upbeat note as domestic stocks saw gap-up opening as crude oil extended a steep decline in the previous session. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 148.53 points or 0.43% at 35,073.40. The Nifty 50 index was up 57.60 points or 0.54% at 10,662.75. The Sensex regained the psychological 35,000 level in opening trade.
The S&P BSE Mid-Cap index was up 0.69%. The S&P BSE Small-Cap index was up 0.65%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,090 shares rose and 335 shares fell. A total of 65 shares were unchanged.
Overseas, most Asian stocks were trading higher on signs that the United States and North Korea are still working towards holding a summit next month. Profits earned by Chinese industrial firms in April reportedly rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, 27 May 2018 as factories benefited from higher prices and strong demand.
US stocks ended mostly lower Friday, 25 May 2018 on lighter than normal volume as a plunge in crude-oil futures, sparked by reports that OPEC and major oil-producer Russia were considering increasing output, slammed shares of energy-related companies. Meanwhile, US markets will remain closed today, 28 May 2018 for Memorial Day. UK markets will remain closed today, 28 May 2018 for the spring bank holiday.
President Donald Trump reportedly said on Sunday a US team had arrived in North Korea to prepare for a proposed summit between him and North Korean leader Kim Jong Un on 12 June 2018 in Singapore, which Trump pulled out of last week before reconsidering.
Back home, Sun Pharmaceuticals Industries jumped 5.57%. On a consolidated basis, net profit after minority interest of Sun Pharmaceuticals Industries rose 10.35% to Rs 1528.99 crore on 1.67% decline in net sales to Rs 6711.01 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 25 May 2018.
Tech Mahindra dropped 2.45%. On a consolidated basis, net profit of Tech Mahindra rose 33.15% to Rs 1230.80 crore on 3.58% rise in net sales to Rs 8054.50 crore in Q4 March 2018 over Q3 December 2017. The result was announced after market hours on Friday, 25 May 2018.
NBCC (India) lost 1.59%. On a consolidated basis, net profit of NBCC (India) declined 9.72% to Rs 150.42 crore on 4.01% decline in net sales to Rs 2522.41 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 25 May 2018.
Bank of Baroda gained 2.76%. The state-run bank reported net loss of Rs 3102.34 crore in Q4 March 2018 as against net profit of Rs 154.72 crore in Q4 March 2017. Total income fell 0.91% to Rs 12735.16 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 25 May 2018.
Dilip Buildcon rose 2.46% after the company said it was declared L-1 bidder for a new hybrid annuity project PKG-I valued at Rs 1313.90 crore by the National Highways Authority of India in Karnataka. The announcement was made after market hours on Friday, 25 May 2018.
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