Barometers trade near flat line, Nifty above 19,000

The benchmark indices traded traded near the flat line with positive bias in morning trade. The Nifty traded a tad above the 19,000 level. Auto witnessed selling pressure after advancing in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 31.91 points or 0.05% to 63,814.71. The Nifty 50 index added 13.65 points or 0.07% to 19,060.90.

In the broader market, the S&P BSE Mid-Cap index fell 0.13% while the S&P BSE Small-Cap index shed 0.07%.

The market breadth is positive, On the BSE, 1,751 shares rose and 1,619 shares fell. A total of 180 shares were unchanged.

Results Today:

Adani Green Energy (up 1.11%), DLF (up 0.68%), Marico (down 0.90%), Procter Gamble Hygiene & Health Care (down 0.43%), APL Apollo Tubes (down 0.30%), Petronet LNG (up 0.66%), GMR Airports Infrastructure (up 0.62%), KPIT Technologies (up 0.36%), Nippon Life India Asset Management (up 0.76%), Blue Star (up 0.36%), DCM Shriram (down 0.08%), Fine Organic Industries (up 0.36%), Castrol India (up 1.35%), Rainbow Childrens Medicare (down 1.25%), Craftsman Automation (down 0.79%), SIS (down 0.86%), Spandana Sphoorty Financial (up 0.97%), LT Foods (down 0.25%) and Gokaldas Exports (down 0.13%) will announce their quarterly earnings later today.

Buzzing Index:

The Nifty Auto index declined 1.39% to 15,944.60. The index had added 1.35% in the past trading session.

Mahindra & Mahindra (down 2.9%), Tata Motors (down 2.69%), Maruti Suzuki India (down 2.1%), Ashok Leyland (down 1.64%), Bharat Forge (down 1.61%), Eicher Motors (down 1.58%), TVS Motor Company (down 1.58%), Hero MotoCorp (down 1.57%), Bajaj Auto (down 1.57%) and Samvardhana Motherson International (down 1.51%) edged lower.

Earnings Impact:

SBI Cards and Payment Services dropped 5.92%. The company reported 14.71% rise in net profit to Rs 602.98 crore on 22.24% increase in total income to Rs 4,221.40 crore in Q2 FY24 over Q2 FY23.

Piramal Pharma rallied 4.75%. The pharmaceutical company reported a consolidated net profit of Rs 5.02 crore in Q2 FY24 as compared to a net loss of Rs 37.34 crore in Q2 FY23. Net sales grew by 11.13% year on year to Rs 1,911.38 crore during the quarter.

Bharat Electronics (BEL) shed 0.26%. The company`s standalone net profit rose 32.94% to Rs 812.34 crore in Q2 FY24 as against Rs 611.05 crore reported in Q2 FY23. Revenue from operations increased marginally to Rs 3,918.13 crore in the quarter ended 30 September 2023 from Rs 3,896.20 crore in Q2 FY23.

Mahindra & Mahindra Financial Services slumped 10.55%. The company`s net profit dropped 47.54% to Rs 235.18 crore on 24.19% increase in total income to Rs 3,240.49 crore in Q2 FY24 over Q2 FY23.

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