Live: Sensex, Nifty Hold Gains; MCX Jumps Over 8%
Market Check: Sensex, Nifty Hold Gains
Indian equity benchmarks traded higher after a shaky start.
The S&P BSE Sensex rose 0.34 percent to 39,262 as of 11 a.m. and the NSE Nifty 50 rose 0.30 percent to 11,697.30. The broader market index represented by the NSE Nifty 500 Index rose 0.28 percent.
The market breadth was tilted in favour of buyers. About 958 stocks advanced and 670 shares declined on National Stock Exchange.
Global Markets Update: Stocks Mixed On Heavy Volumes
Stocks saw another mixed session in Asia Wednesday, with subdued trading volumes, as continuing U.S.-China trade tensions contrast with still-solid economic data to leave investors without a dominant narrative.
- Japan’s Topix index slipped 0.2 percent.
- Futures on the S&P 500 were flat.
- South Korea’s Kospi index retreated 1 percent.
- Hong Kong’s Hang Seng lost 0.3 percent.
- The Shanghai Composite was little changed.
- Australia’s S&P/ASX 200 Index rose 0.5 percent.
- Euro Stoxx 50 futures slipped 0.1 percent.
Catch all the global markets update here.
Tata Elxsi Falls After Q1 Results
Shares of Tata Elxsi fell 1.6 percent to Rs 801.55 after the company announced its June quarter results
Key earnings Highlights (Q1, YoY)
- Revenue down 5.3 percent to Rs 361.71 crore.
- Net Profit down 31 percent to Rs 48.79 crore.
- EBIT down 42 percent to Rs 58.09 crore.
- EBIT Margin 16.1 percent versus 26.3 percent.
Yes Bank Worst Performer On Sensex, Nifty Ahead Of Results Announcement
Shares of Yes Bank fell as much as 3.5 percent to Rs 100.25, making it the worst performer on Sensex and Nifty. The stock had risen 4.5 percent intraday.
The company is scheduled to announce its quarterly results today.
Here’s the preview of analysts consensus estimates tracked by Bloomberg
Yes Bank Earnings Estimates (Q1 YoY)
- Net interest income seen 11.6 percent higher at Rs 2,477 crore.
- Net profit seen 84 percent lower at Rs 201 crore.
- PPoP seen 40 percent lower at Rs 1,452 crore.
Sectoral Indices Check: Nifty Media Top Sectoral Performer
Seven out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty 1.23 percent gain. On the flipside, the NSE Nifty Metal Index was the top sectoral loser, down 0.23 percent.
Stocks Reacting To Earnings Announcement
MCX (Q1, YoY)
- Stock rose as much as 8.4 percent to Rs 882.
- Revenue up 9.1 percent to Rs 79.5 crore.
- Net profit up six times to Rs 43.7 crore.
- Ebitda up 10.8 percent at Rs 27.7 crore.
- Margin expands to 34.8 percent.
- Other income up 2.5 times to Rs 31.4 crore.
- Exceptional loss of Rs 23.8 crore in base quarter.
- Tax as percentage PBT at 20.7 percentage.
Jay Bharat Maruti (Q1, YoY)
- Stock fell as much as 4.2 percent to Rs 181.
- Revenue down 12.5 percent to Rs 442.9 crore.
- Net profit down 41.8 percent to Rs 7.8 crore.
- Ebitda down 8 percent to Rs 39 crore.
- Margin widens to 8.8 percent.
- Other expenses down 16 percent to Rs 29.1 crore.
Agro Tech Foods (Q1, YoY)
- Stock rose as much as 1.4 percent to Rs 506.
- Revenue flat at Rs 197.7 crore
- Net profit up 6.1 percent at Rs 7 crore.
5Paisa Capital (Q1, YoY)
- Stock fell as much as 3.4 percent to Rs 249.90.
- Revenue up 2.5 times to Rs 22.9 crore.
- Net loss at Rs 0.5 crore versus net loss at Rs 6 crore.