MARKET LIVE: Sensex, Nifty gain; YES Bank up 3%, HDFC AMC hits fresh high

Benchmark indices were trading higher in Wednesday's early morning session.

The S&P BSE Sensex rose 79 points, or 0.2 per cent, to 39,210, with Kotak Mahindra Bank, Tech Mahindra, Asian Paints, HCL Tech, and Bajaj Finance among the top gainers. The broader Nifty50 index added 25 points, or 0.2 per cent, to 11,687.

Only three out of the 11 Nifty sectoral were trading in the red. Nifty Pharma index dipped the most 0.4 per cent while Nifty Bank and Nifty FMCG indexes gained 0.5 per cent each.

In broader market, the S&P BSE MidCap index added 29 points, or 0.2 per cent, to 14,594, while the S&P BSE SmallCap index rose 33 points, or 0.26 per cent, to 13,762.

RESULTS TODAY

Wipro, India’s fourth largest software company, is scheduled to release its April - June 2019 quarter results (Q1FY20) on July 17 and analysts expect a moderate revenue growth along with a fall in the earnings nefore interest and taxes (EBIT) margin. READ HERE ON WHAT MORE TO EXPECT FROM THE RESULTS

Apart from Wipro, Mindtree, YES Bank, and nine other companies will announce their June quarter results today.

BUZZING STOCKS

Shares of DCB Bank plunged 14 per cent to Rs 205 in Wednesday's early morning trade on the BSE after the private sector lender reported a sub-par performance in June quarter (Q1FY19) led by decline in loan growth, sequential rise in fresh slippages and non-performing assets (NPAs), and continued pressure on margin. READ MORE

Shares of HDFC Asset Management Company (AMC) hit a record high of Rs 2,129, up 7 per cent intra-day on the BSE on Wednesday, after the company reported a 42 per cent year-on-year (YoY) jump in net profit at Rs 292 crore in the June quarter of fiscal year 2019-20 (Q1FY20). The strong profit growth was led by lower expenses and higher other income, the company's financial data show. READ MORE