We had mentioned in Tuesday’s closing report that Nifty, Sensex were unimpressed by PM Modi’s talk and so were down again. The major indices rallied today. On the NSE, there were 949 advances, 808 declines and 339 unchanged. The trends of the Indian stock markets in the course of Wednesday’s trading are given in the table below:
Lower inflation rates along with hopes of an easing in US-China trade tensions and attractive valuations lifted the Indian equities market on Wednesday. Buying was seen in automobile, capital goods and banking stocks, whereas selling pressure was seen in the healthcare sector.
Diversified energy major ONGC’s net profits declined 19% y-o-y to Rs6,694 crore for the quarter ended June 2019 (Rs8,287 crore in Q1 FY19). Revenues declined 0.77% to Rs109,515 crore against Rs110,367 crore in Q1 FY19..
Ahluwalia Contracts has bagged a construction order worth Rs168 crore for construction of modern flower market for commission agent shops, cold storage facility including water supply, electrical, plumbing and fire-fighting services and other works at IFC Gazipur.
The state administration of Jammu and Kashmir announced a three-day global investor’s summit to in Srinagar from October 12. The meet will provide J-K an opportunity to showcase its strengths, strategies and potential, the state's Principal Secretary (Industries), Naveen Choudhary, told media.
United Breweries posted net profit of Rs164.69 crores for the quarter ended June 2019 (Rs222.39 crores in Q1 FY19) down 26% y-o-y. Total income grew 13% y-o-y to Rs4,711.67 crores (Rs4,174.17 crores in Q1 FY19).
West Coast Paper Mills posted net profit of Rs103.51 crores for the quarter ended June 2019 (Rs84.03 crores in Q1 FY19) up 23% y-o-y. Total income grew 17% y-o-y to Rs549.64 (Rs468.88 crores in Q1 FY19).
NMDC posted net profit of Rs1,178.15 for the quarter ended June 2019 (Rs974.35 in Q1 FY19) up 21% y-o-y. Total income grew 33% y-o-y to Rs3,386.65 crores (Rs2,547.33 in Q1 FY19).
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: