Key benchmark indices were trading higher in early trade, tracking positive leads from Asian markets and overnight gains on the Wall Street. At 9:17 IST, the barometer index, the S&P BSE Sensex, was up 199.48 points or 0.55% at 36,394.58. The Nifty 50 index was up 58.30 points or 0.54% at 10,908.10.
Among secondary barometers,the BSE Mid-Cap index was up 0.31%. The BSE Small-Cap index was up 0.18%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 541 shares rose and 297 shares fell. A total of 37 shares were unchanged.
Overseas, stocks in Asia gained Friday despite fresh overnight uncertainties about US-China trade negotiations. In Japan, core consumer prices in Tokyo, a leading indicator of nationwide price trends, rose 1.1% in January from a year earlier, government data showed on Friday.
In US, stocks closed mostly higher Thursday as investors digested a tide of corporate earnings while monitoring US-China trade talks and a long-running US government shutdown -- all amid worries over the health of the global economy.
In Europe, the European Central Bank (ECB) decided to maintain interest rates at 0% as expected on Thursday, but President Mario Draghi warned that growth risks in the region had shifted to the downside due to a number of external factors.
On the US data front, the number of Americans applying for unemployment benefits fell below 200,000 for the first time in nearly 50 years, the Labor Department reported Thursday. Further, the Conference Board's leading economic index fell 0.1% in December.
Private-sector activity continued to expand in January but at a more moderate pace compared with the same time last year, according to flash purchasing managers index data compiled by Markit. The manufacturing index rose to 54.9 from 53.8 in December, while the services gauge slipped to 54.2 from 54.4. A figure above 50 signifies growth in activity.
Back home, Biocon was up 1%. On a consolidated basis, Biocon's net profit rose 136.34% to Rs 217.20 crore on 45.65% increase in net sales to Rs 1540.80 crore in Q3 December 2018 over Q3 December 2017. The result was announced after market hours yesterday, 24 January 2019.
PNB Housing Finance was up 1.67%. On a consolidated basis, PNB Housing Finance's net profit rose 32.04% to Rs 302.97 crore on 46.76% increase in total income to Rs 2078.46 crore in Q3 December 2018 over Q3 December 2017. The result was announced after market hours yesterday, 24 January 2019.
Yes Bank was up 7.62%. The bank announced the appointment of Mr. Maheswar Sahu and Mr. Anil Jaggia as additional directors (independent) with effect from 24 January 2019 for a period of 5 years. The announcement was made after market hours yesterday, 24 January 2019.
Further, the bank said that Reserve Bank of India (RBI) has vide its letter dated 23 January 2019 approved the appointment of Ravneet Gill as the MD & CEO of Yes Bank for a period of 3 years from the date of joining. Gill is expected to join the bank latest by 1 March 2019. The appointment will be subject to the approval of shareholders at the ensuing Annual General Meeting of the bank to be held in June 2019.
The board of directors of Yes Bank have scheduled a special board meeting to be held on Tuesday, 29 January 2019, and will finalize on the delegation of powers for transition management in the interim period commencing from 1 February 2019 until Ravneet Gill assumes office.
InterGlobe Aviation was up 0.02%. The company announced that its board approved appointment of Mr. Meleveetil Damodaran, independent non-executive director as the chairman of the board of directors of the company with effect from 24 January 2019. The board also approved the appointment of Mr. Ronojoy Dutta, as chief executive officer of the company with effect from 24 January 2019. The announcement was made after market hours yesterday, 24 January 2019.
UPL was up 1.82%. The company had made an announcement to the stock exchange on 20 July 2018 for acquisition of 100% shares of Arysta LifeScience Inc. and its subsidiaries from Platform Speciality Products Corporation, an entity listed in the United States of America. The acquisition was subject to various regulatory approvals. The parties have now obtained all regulatory approvals necessary to complete the transaction, which is expected to close on 31 January 2019. The announcement was made after market hours yesterday, 24 January 2019.
Deepak Fertilisers & Petrochemicals Corporation was up 0.71%. The company clarified after market hours yesterday, 24 January 2019, that it has been repaying commercial papers in accordance with the due dates and has repaid its last commercial papers on the due date in the current month. There are no commercial papers outstanding as on date payable by the company or any of its subsidiaries.
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