Key barometers came off day's low and traded with small gains in mid-afternoon trade. At 12:22 IST, the barometer index, the S&P BSE Sensex, was up 40.91 points or 0.11% at 38,547. The Nifty 50 index was up 20.90 points or 0.18% at 11,449.20.

The S&P BSE Mid-Cap index was down 0.2%. The S&P BSE Small-Cap index was up 0.28%.

The market breadth was negative. On the BSE, 1098 shares rose and 1247 shares fell. A total of 212 shares were unchanged. In Nifty 50 index, the market breadth was even with 25 stocks advancing and 25 stocks declining.

Federal Bank fell 2.96% to Rs 82 after the bank announced its Q2 results during market hours today, 16 October 2019. Federal Bank's net profit rose 56.63% to Rs 416.7 crore on a 19.02% increase in total income to Rs 3675.17 crore in Q2 September 2019 over Q2 September 2018. The bank's gross non-performing assets (NPAs) stood at Rs 3612.11 crore as on 30 September 2019 as against Rs 3394.69 crore as on 30 June 2019 and Rs 3184.53 crore as on 30 September 2018. The ratio of gross NPAs to net advances stood at 3.07% as on 30 September 2019 as against 2.99% as on 30 June 2019 and 3.11% as on 30 September 2018.

Shares of publishing house, DB Corp jumped 4.57% to Rs 153.2 after the company announced Q2 2019 earnings during market hours today. On consolidated basis, the company's consolidated net profit soared 63.61% to Rs 75.57 crore on a 9.17% decline in net sales to Rs 533.56 crore in Q2 September 2019 compared with Q2 September 2018. Total income fell 9.17% to Rs 533.56 crore in Q2 September 2019 over Q2 September 2018. The company's Advertising Revenue stood at Rs. 367 crore in Q2 September 2019 as against Rs. 413.2 crore in Q2 2018. The board has also declared an interim dividend of Rs 6.5 per equity share.

Aditya Birla Money jumped 8.03% to Rs 37 after the company announced Q2 earnings during market hours today. The company reported a 23.15% rise in net profit to Rs 2.90 crore in Q2 September 2019 as against Q2 September 2018. The total income decreased 8.63% to Rs 40.27 crore in Q2 September 2019 over Q2 2018.

Meanwhile, the yield on 10-year benchmark federal paper fell to 6.651% at 14:18 IST compared with 6.660% in the previous trading session.

In the foreign exchange market, the partially convertible rupee edged marginally lower and was hovering at 71.565, compared with its close of 71.545, during the previous trading session.

In the commodities market, Brent crude for December 2019 settlement was down 21 cents at $58.53 a barrel. The contract fell 1.03% to settle at $58.74 a barrel during the previous trading session.

MCX Gold futures for 5 December 2019 settlement edged 0.2% higher at Rs 38,111.

Key equity benchmarks reversed gains and hit an intraday low in afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex was down 57 points or 0.15% at 38,449.09. The Nifty 50 index was down 3.95 points or 0.03% at 11,424.35.

The S&P BSE Mid-Cap index was down 0.28%. The S&P BSE Small-Cap index rose 0.16%.

The market breadth was positive. On the BSE, shares 1,168 rose and 987 shares fell. A total of 182 shares were unchanged.

On the macro front, India's trade deficit narrowed 27.4% to seven month low of $10.86 billion in September 2019 from $14.95 billion in September 2018. Oil imports declined 18.3% to $8.98 billion, while the non-oil imports dipped 12.3% to $27.91 billion in September 2019 over September 2018. The share of oil imports in total imports was 24.3% in September 2019, compared with 25.7% in September 2018.

The International Monetary Fund (IMF) has reduced India's growth forecast for FY20 by 90 basis points to 6.1%, down from the 7% estimated in July. Meanwhile, the growth forecast for FY21, which stood at 7.2% in July, was slashed by 20 bps to 7%. The downward revision in India's growth forecast by the IMF reflects a weaker-than-expected outlook for domestic demand. Monetary policy easing and the recent corporate tax rate cuts are to support growth with a lag, the IMF said. Government programs to support rural consumption will also aid growth, it added.

Bajaj Auto was up by 0.98% after the two-wheeler company launched a Bajaj Chetak Chick, which is the first ever all-electric scooter of the company and would be sold under its Urbanite brand that will solely sell electric vehicles (EVs).

Zee Entertainment Enterprises (up 5.29%), BPCL (up 5.12%) and Grasim Industries (up 3.43%) advanced.

Hindalco Industries (down 2.70%), Hero MotoCorp (down 2.33%) and Vedanta (down 2.08%) declined.

IT major Wipro advanced 2.22%. The company's consolidated net profit rose 6.91% to Rs 2,552.70 crore on a 1.98% rise in total income to Rs 15,875.40 crore in Q2 September 2019 compared with Q1 June 2019. The result was announced after trading hours yesterday, 15 October 2019.

ONGC gained 0.18%. ONGC Videsh, a wholly-owned subsidiary of ONGC, has recorded discoveries of oil in its onshore exploration block CPO-5, Colombia in the Llanos basin and major gas in the deep offshore exploration block BM-SEAL4, Brazil in the Sergipe Alagoas Basin. The announcement was made after trading hours yesterday, 15 October 2019.

Ultratech Cement rose 1.40%. The company, on 16 October 2019, announced that it has allotted 1.39 crore equity shares to the shareholders of the firm in the ratio of 1:8 for every share held (face value, Rs 10) in Ultratech Cement as on the record date on 14 October 2019.

Overseas, European stocks edged lower Wednesday as investors looked for cues on the likelihood of an imminent Brexit deal between the U.K. and the EU.

Asian shares traded higher. South Korea's central bank cut its interest rate for the second time in three months on Wednesday, following its first cut in July.

US stocks gained on Tuesday on strong US corporate results and a possible deal to avoid a disorderly British exit from the European Union.

Key indices continued to trade sideways in early afternoon trade. The Nifty found strong support at 11,450 level. At 12:22 IST, the barometer index, the S&P BSE Sensex, was up 87.89 points or 0.23% at 38,593.98. The Nifty 50 index was up 27.9 points or 0.24% at 11,456.20.

The S&P BSE Mid-Cap index fell 0.05%, underperforming the Sensex. The S&P BSE Small-Cap index was up 0.37%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1155 shares rose and 989 shares fell. A total of 179 shares were unchanged. In Nifty 50 index, 28 stocks advanced while 22 stocks declined.

On the derivatives front, the NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 1.76% to 16.5525.

On the options front, the Nifty option chain for 31 October 2019 expiry showed maximum call open interest (OI) of 24.17 lakh contracts at the 12,000 strike price. Maximum put OI of 29.91 lakh contracts was seen at 11,000 strike price. The option chain indicates that Nifty will stay between 11,000 and 12,000 in October expiry.

Shares of IRCTC were down 1.65% at Rs 701.3, sliding 3.62% in two trading sessions amid profit booking after a stellar debut on Monday, 14 October 2019. The stock was listed at Rs 644 on BSE, a premium of 101.25% to the IPO price of Rs 320.

Bharat Electronics (BEL) reported that President of India, acting through Ministry of Defense, Government of India sold 1.61 crore shares of the company through off market. The Government sold its shares to ICICI Prudential Asset Management Company under Further Fund Offer of Bharat 22 ETF launched by the AMC. Post disposal of shares, Government's stake in the company reduced from 55.93% to 55.27%.

Shares of BEL were trading 1.36% higher at Rs 111.95.

Karnataka Bank fell 1.77% to Rs 69.35 after the bank reported Q2 earnings after market hours yesterday, 15 October 2019. Karnataka Bank's net profit fell 5.3% to Rs 105.91 crore on a 17.2% increase in total income to Rs 1938.40 crore in Q2 September 2019 over Q2 September 2018.

Gross non-performing assets (NPAs) stood at Rs 2594.27 crore as on 30 September 2019 as against Rs 2437.53 crore as on 30 June 2019 and Rs 2371.62 crore as on 30 September 2018. The ratio of gross NPAs to gross advances stood at 4.78% as on 30 September 2019 as against 4.55% as on 30 June 2019 and 4.66% as on 30 September 2018.

Key barometers were trading in a narrow range with modest gains in mid-morning trade. Shares were buoyant amid positive Asian cues. The Nifty traded above the 11,450 level. At 11:26 IST, the barometer index, the S&P BSE Sensex, was up 69.18 points or 0.18% at 38,575.27. The Nifty 50 index was up 30.45 points or 0.27% at 11,458.75.

The S&P BSE Mid-Cap index traded 0.03% lower. The S&P BSE Small-Cap index was up 0.45%.

The market breadth was positive. On the BSE, 1103 shares rose and 895 shares fell. A total of 158 shares were unchanged.

Overseas, Asian shares are trading higher as news overnight boosted Brexit optimism. The media reported that the EU and the U.K. were close to a deal.

South Korea's central bank cut its interest rate for the second time in three months on Wednesday, following its first cut in July.

US stocks gained on Tuesday on strong US corporate results and a possible deal to avoid a disorderly British exit from the European Union.

Back home, the Nifty Bank index was up 0.53% at 28,706.10, gaining 2.47% in four consecutive trading sessions.

Among private sector banks, AU Small Finance Bank (up 1.81%), ICICI Bank (up 1.39%), RBL Bank (up 1.08%), IndusInd Bank (up 0.76%), Axis Bank (up 0.62%), Yes Bank (up 0.37%), Kotak Mahindra Bank (up 0.22%) and HDFC Bank (up 0.21%) advanced.

Federal Bank was up 2.01% ahead of its Q2 earnings today, 16 October 2019.

Among PSU banks, Bank of India (up 1.63%), Syndicate Bank (up 1.46%), Oriental Bank of Commerce (up 1.08%), Bank of Baroda (up 0.97%), State Bank of India (up 0.91%), Union Bank of India (up 0.9%) and Punjab National Bank (up 0.09%) gained.

Pharmaceutical firm, Indoco Remedies advanced 5.05% after the company announced the successful completion of USFDA audit. The US Food and Drug Administration (USFDA) inspected Indoco's sterile manufacturing facility in Goa from 7 October to 15 October 2019. The Inspection ended with 2 observations, neither of these are related to Data Integrity or the core Quality Management System and the Company will respond to the FDA within the stipulated time.

ARSS Infra Projects jumped 4.78% after the company received an order from Rail Vikas Nigam for construction of a major bridge in Rayagada- Ladda in Odisha. The order worth Rs 60.57 crore is to be completed within 36 months.

Benchmark indices reversed early gains and briefly entered negative terrain before recovering once again. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 68.93 points or 0.18% at 38,575.02. The Nifty 50 index was up 23.95 points or 0.21% at 11,452.25. Sentiment got a boost from sustained foreign fund inflow and positive cues from global equities.

The S&P BSE Mid-Cap index was up 0.18%. The S&P BSE Small-Cap index was up 0.45%.

The market breadth was positive. On the BSE, 1034 shares rose and 704 shares fell. A total of 127 shares were unchanged.

On the macro front, India's trade deficit narrowed 27.4% to seven month low of $10.86 billion in September 2019 from $14.95 billion in September 2018. Oil imports declined 18.3% to $8.98 billion, while the non-oil imports dipped 12.3% to $27.91 billion in September 2019 over September 2018. The share of oil imports in total imports was 24.3% in September 2019, compared with 25.7% in September 2018.

The International Monetary Fund (IMF) has reduced India's growth forecast for FY20 by 90 basis points to 6.1%, down from the 7% estimated in July. Meanwhile, the growth forecast for FY21, which stood at 7.2% in July, was slashed by 20 bps to 7%. The downward revision in India's growth forecast by the IMF reflects a weaker-than-expected outlook for domestic demand. Monetary policy easing and the recent corporate tax rate cuts are to support growth with a lag, the IMF said. Government programs to support rural consumption will also aid growth, it added.

MindTree (up 1.14%), Hathway Cable & Datacom (up 4.87%), Federal Bank (up 1.01%) and DB Corp (up 1.81%) will announce Q2 results today.

Shares of Bajaj Consumer Care were locked in an upper circuit of 20% at Rs 234.65 on bargain hunting after a recent steep slide. Shares of Bajaj Consumer have slumped 19.41% in two trading sessions to end at Rs 195.55 yesterday, from a recent closing high of Rs 242.65 on Friday, 11 October 2019.

Bajaj Consumer Care's promoter, Bajaj Resources, sold 3.22 crore shares, representing 22% stake, of Bajaj Consumer Care at an average price of Rs 194.56 on Tuesday, 15 October 2019.

Fund houses like Aditya Birla Sun Life Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Steinberg India Emerging Opportunities Fund, were among the buyers of shares.

Shares of Sterling and Wilson Solar were trading 0.39% higher at Rs 602.35. Sterling & Wilson Solar Australia, the company's wholly owned subsidiary, won an order for engineering, construction and procurement for a 200 MW DC Solar Farm in Australia amounting to AUD 220.83 million.

SBI Life Insurance surged 3.76% after the insurance company announced its Q2 earnings. On standalone basis, the company's net profit declined 48.2% to Rs 129.84 crore while total income rose 32.1% to Rs 12889.78 crore in Q2 September 2019 over Q2 September 2018. Assets under management (AUM) grew 23% to Rs 1,54,760 crore in Q2 September 2019 from Rs 1,26,170 crore in previous year. The company's new business premium increased 40% to Rs 7820 crore on YoY basis.

Construction & engineering firm NBCC (India) surged 4.43% to Rs 34.05 after the company announced a total business of Rs 852.17 crore in the month of September 2019.

Key indices are trading higher in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 113.57 points or 0.29% at 38,619.66. The Nifty 50 index was up 23.20 points or 0.2% at 11,451.50. Positive Asian stocks also boosted sentiment.

The S&P BSE Mid-Cap index was up 0.36%. The S&P BSE Small-Cap index was up 0.42%. Both these indices outperformed the Sensex.

The market sentiment was upbeat as data showed that foreign and domestic funds, both, were net buyers of Indian stocks. The trading activity showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 436.02 crore yesterday, 15 October 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 929.39 crore yesterday, 15 October 2019, as per provisional data.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 636 shares rose and 410 shares fell. A total of 56 shares were unchanged.

Among stocks, IT major Wipro rose 1.58%. The company's consolidated net profit rose 6.91% to Rs 2552.70 crore on a 1.98% rise in total income to Rs 15875.40 crore in Q2 September 2019 compared with Q1 June 2019. The result was announced after trading hours yesterday, 15 October 2019.

ACC gained 1.74%. The company's consolidated net profit rose 44.68% to Rs 302.53 crore on a 3.28% rise in total income to Rs 3582.16 crore in Q3 September 2019 compared with Q3 September 2018. The result was announced after trading hours yesterday, 15 October 2019.

ONGC rose 0.9%. ONGC Videsh, a wholly-owned subsidiary of ONGC, has recorded discoveries of oil in its onshore exploration block CPO-5, Colombia in the Llanos basin and major gas in the deep offshore exploration block BM-SEAL4, Brazil in the Sergipe Alagoas Basin. The announcement was made after trading hours yesterday, 15 October 2019.

REC rose 0.65%. REC said that the entire shareholding of REC Transmission Projects Company (RECTPCL), a wholly owned subsidiary of REC in WRSS XXI (A) Transco, comprising of 50,000 equity shares, have been transferred along with all its assets and liabilities on 14 October 2019, to Adani Transmission. The announcement was made after trading hours yesterday, 15 October 2019.

Multi Commodity Exchange of India jumped 8.13% after consolidated net profit surged 99.69% to Rs 71.75 crore on a 54.96% rise in total income to Rs 144.53 crore in Q2 September 2019 compared with Q2 September 2018. The result was announced after trading hours yesterday, 15 October 2019.

On the macro front, India's merchandise exports declined 6.6% to US$ 26.03 billion in September 2019 over a year ago. Meanwhile, merchandise imports also dipped 13.8% to US$ 36.89 billion. The trade deficit narrowed 27.4% to seven month low of US$ 10.86 billion in September 2019 from US$ 14.95 billion in September 2018.

The International Monetary Fund (IMF) has reduced India's growth forecast for FY20 by 90 basis points to 6.1%, down from the 7%estimate in July. Meanwhile, the growth forecast for FY21, which stood at 7.2%in July, was slashed by 20 bps to 7%. The downward revision in India's growth forecast by the IMF reflects a weaker-than-expected outlook for domestic demand. Monetary policy easing and the recent corporate tax rate cuts are to support growth with a lag, the IMF said. Government programs to support rural consumption will also aid growth, it added.

Overseas, Asian shares are trading higher as Britain and the EU made headway on a Brexit deal ahead of a leaders' summit.

US stocks gained on Tuesday on strong US corporate results and a possible deal to avoid a disorderly British exit from the European Union.

The Sensex and the Nifty advanced further and hit fresh intraday high in mid-afternoon trade. Sentiment improved after China confirmed phase-one trade deal with the US. Geng Shuang, spokesman of China's Foreign Ministry, reportedly said US statement on partial trade deal is accurate and there is no difference with the US on the trade agreement.

The Nifty crossed 11,450 level. At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 392.34 points or 1.03% at 38,606.81. The Nifty 50 index was up 114.9 points or 1.01% at 11,456.05.

In broader market, the S&P BSE Midcap was up 0.92% and the S&P BSE Smallcap was up 0.09%, lagging the main stock indices.

The market breadth continued to be negative. On the BSE, 1077 shares rose and 1281 shares fell. A total of 169 shares were unchanged. In Nifty 50 index, 44 stocks advanced while 6 stocks declined.

TV18 Broadcast was trading 0.23% lower after the company announced its Q2 September 2019 results during market hours today, 15 October 2019. On a consolidated basis, TV18 Broadcast's net profit rose 41.4% to Rs 23.60 crore on a 5.94% decline in revenue from operations to Rs 1127.13 crore in Q2 September 2019 over Q2 September 2018. Consolidated operating EBITDA fell 3% to Rs 105 crore in Q2 September 2019 over Q2 September 2018.

Shares of Coal India were trading 0.84% higher at Rs 191.7. Coal India in an exchange filing stated that Government of India through Ministry of Coal has sold 1.28 crore shares of the company. The Government owned 69.26% in Coal india before the disposal. Post sale, the Government now owns 69.05% stake in Coal India.

Berger Paints India was up 0.6% after the company approved the acquisition of STP, which is engaged in carrying out the business of manufacturing and supplying of a wide range of construction chemicals, concrete admixtures, waterproofing .chemicals, flooring compounds, bitumen and coal tar based products. Berger Paints aims to acquire 95.53% stake in STP at a consideration of Rs 167.5 crore.

Meanwhile, the yield on 10-year benchmark federal paper fell to 6.662% at 14:13 IST compared with 6.670% in the previous trading session.

In the foreign exchange market, the partially convertible rupee edged lower and was hovering at 71.375, compared with its close of 71.235, during the previous trading session.

In the commodities market, Brent crude for December 2019 settlement was down 31 cents at $59.04 a barrel. The contract fell 1.92% to settle at $59.35 a barrel during the previous trading session.

MCX Gold futures for 5 December 2019 settlement edged 0.04% higher at Rs 38,240.

Overseas, European stocks advanced while Asian stocks ended on a mixed note on Tuesday, following the previous day's rally, as new doubts emerged overnight about the US-China partial trade deal. China wants another round of talks before signing what U.S. President Donald Trump last week called a very substantial phase one deal between the two countries.

As part of the phase one deal on Friday, the U.S. postponed a planned tariff increase on $250 billion in Chinese imports from 25% to 30%, originally set to take effect Tuesday, in exchange for Chinese promises to buy $40 to $50 billion in American agricultural products annually though that would be double the $24 billion China bought in 2017.

U.S. Treasury Secretary Steven Mnuchin reportedly expects the mid-December round of tariffs to take effect if no deal is reached between the countries.

In Europe, European Union negotiator Michel Barnier reportedly said a Brexit deal between the bloc and the U.K. is still possible this week.

US stocks edged lower on Monday as investors turned their focus on the third-quarter earnings season, which begins in earnest on Tuesday.

Key equity benchmarks were hovering in a narrow range with modest gains in afternoon trade. At 13:35 IST, the barometer index, the S&P BSE Sensex was up 236.12 points or 0.62% at 38,450.59. The Nifty 50 index was up 67.45 points or 0.59% at 11,408.60.

Frontline stocks advanced amid hopes that the central bank will continue with accommodative policy and further cut key interest rates in its next policy review.

The broader market was mixed. The S&P BSE Mid-Cap index was up 0.44%. The S&P BSE Small-Cap index was down 0.11%.

The market breadth was tilted in favour of sellers. On the BSE, shares 991 rose and 1,278 shares fell. A total of 169 shares were unchanged.

On the domestic macro front, the general consumer price index (CPI) inflation rose to 3.99% in September 2019, compared with 3.28% in August 2019. The corresponding provisional inflation rate for rural area was 3.24% and urban area 4.78% in September 2019 as against 2.25% and 4.49% in August 2019. The core CPI inflation eased to 3.99% in September 2019 compared with 4.20% in August 2019. The cumulative CPI inflation has declined to 3.27% in April-September FY2020 compared with 4.32% in April-September FY2019.

The Reserve Bank of India (RBI) aims to achieve the medium-term target for CPI inflation of 4% within a band of +/-2%, while supporting growth. RBI on 4 October reduced repo rate by 25 basis points (bps) to 5.15%. It was the fifth straight rate cut from the RBI, resulting in an overall decline of 135 bps or 1.35 percentage point in the key lending rate. The next meeting of the MPC is scheduled during 3-5 December 2019.

The Wholesale Price Index (WPI)-based inflation, base year 2011-12, dipped further down to 39-months low of 0.3% in September 2019 from 1.1% in August 2019. The WPI based inflation has been moderating consistently for last five straight months from 3.2% in April 2019. The data was unveiled during trading hours on Monday, 14 October 2019.

India's balance of trade data for September 2019 will be announced later today, 15 October 2019. India's trade deficit narrowed to $13.45 billion in August 2019 from $17.92 billion in the same month last year.

IT major Wipro fell 0.25% ahead of Q2 results today, 15 October 2019.

Hero MotoCorp (up 2.98%), Mahindra & Mahindra (up 2.56%) and Maruti Suzuki India (up 2.49%) advanced.

Tata Motors (down 2.50%), Bharti Airtel (down 2.27%) and Tata Steel (down 1.17%) declined.

Yes Bank declined 2%. The bank sold 5.10 crore equity shares, constituting 6.77% of the paid-up share capital of Fortis Healthcare (FHL) as on 30 June 2019, in various tranches last being on 14 October 2019 resulting into a change in holding of the bank by more than 2% of the total shareholding of FHL, from the last disclosure made by the bank on 10 June 2019. The announcement was made after market hours yesterday, 14 October 2019.

IT major Infosys lost 1.83%, extending its recent losses. The stock tumbled 5.44% in two trading session from its closing high of Rs 815.70 on 11 October 2019. The stock surged 4.19% on Friday ahead of Q2 earnings.

On a consolidated basis, Infosys' net profit rose 4.55% to Rs 3,971 crore on 3.78% increase in total revenue from operations to Rs 22,629 crore in Q2 September 2019 over Q1 June 2019. The company's operating margin stood at 21.7% in Q2 September 2019 as against 20.5% in Q1 June 2019. The firm increased lower end of FY 2020 revenue guidance. Revised guidance is 9%-10% in constant currency. It maintained FY 2020 operating margin guidance range of 21%-23%.

Eicher Motors rallied 4.03%. Shares of the auto major jumped 5.48% to its current market price of Rs 19,050 in three trading sessions from its recent closing low of Rs 18,060.05 on Thursday, 10 October 2019.

Hindustan Unilever (HUL) advanced 1.95% to Rs 2,054 after the company announced strong Q2 September 2019 result after market hours yesterday, 14 October 2019.

On a consolidated basis, HUL reported 22.73% rise in net profit to Rs 1,814 crore on a 5.2% increase in total income to Rs 10,229 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 14 October 2019.

HUL said that earnings before interest, tax, depreciation and amortization (EBITDA) was Rs 2,443 crore, up by 21% (16% on comparable basis after adjusting for accounting impact of Ind AS 116). Profit after tax (BEI), at Rs 1,832 crore was up 20%, and profit after tax, at Rs 1,848 crore increased by 21% after incorporating the reduction in Corporate Tax rate.

Margin expansion was driven by improved mix, benign commodity price movement in our large segments and our savings agenda, HUL said.

HUL chairman and managing director Sanjiv Mehta said that the near-term outlook for demand especially in rural India remains challenging.

HDFC rose 0.23% to Rs 2,016.15. HDFC reduced its retail prime lending rate by 10 basis points from 8.35% to 8.25% with effect from Tuesday, 15 October 2019. The announcement was after market hours yesterday, 14 October 2019.

ZEE Entertainment Enterprises (ZEEL) gained 3.15% to Rs 250.20. Reports said that VTB Capital acquired the right to direct disposal of 10.71% stake in ZEEL held by promoter, Essel Media Ventures. VTB Capital has also said that it would willingly cease all enforcement action and release encumbrances upon repayment of outstanding amounts under the loan facility.

Indian Oil Corporation (IOCL) was up 1.17%. Media reported that ExxonMobil has announced its LNG collaborations in India. The global oil giant has joined hands with IOCL to explore growth opportunities in the country. The collaboration aims to explore ways to accelerate India's access to cost-effective natural gas.

BPCL was up 0.82% at Rs 489.75. A global brokerage firm has reportedly maintained its 'buy' recommendation, raising the target market price of the stock by 17.52% to Rs 570 per share from Rs 485 per share. Another brokerage house has also maintained a 'buy' call on the stock with a target market price pegged at Rs 560 per share.

Overseas, European stocks advanced while most Asian stocks were trading lower on Tuesday, following the previous day's rally, as new doubts emerged overnight about the US-China partial trade deal. China wants another round of talks before signing what U.S. President Donald Trump last week called a very substantial phase one deal between the two countries.

U.S. Treasury Secretary Steven Mnuchin reportedly expects the mid-December round of tariffs to take effect if no deal is reached between the countries.

In Europe, European Union negotiator Michel Barnier reportedly said a Brexit deal between the bloc and the U.K. is still possible this week.

US stocks edged lower on Monday as investors turned their focus on the third-quarter earnings season, which begins in earnest on Tuesday.

Key benchmark indices further extended gains and hit fresh intraday high in early afternoon trade. The Nifty was trading above its 100 day simple moving average placed at 11,408.15. At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 294.85 points or 0.76% at 38,504.74. The Nifty 50 index was up 80.6 points or 0.71% at 11,421.75. Private sector banks witnessed buying support.

In the broader market, the S&P BSE Midcap was up 0.4%. The S&P BSE Smallcap traded 0.09% higher.

The market breadth turned negative from positive. On the BSE, 1019 shares rose and 1128 shares fell. A total of 151 shares were unchanged. In Nifty 50 index, 38 stocks advanced while 12 stocks declined.

On the derivatives front, the NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 1.67% to 17.1375. The Nifty October 2019 futures were trading at 11,426, a premium of 4 points compared with the spot at 11,422.

On the options front, the Nifty option chain for 31 October 2019 expiry showed maximum call open interest (OI) of 25.68 lakh contracts at the 12,000 strike price. Maximum put OI of 30.26 lakh contracts was seen at 11,000 strike price. The option chain indicates that Nifty will stay between 11,000 and 12,000 in October expiry.

The Nifty Bank index was up 0.84% at 28,417.95, extending its previous gains. Among private sector banks, Kotak Mahindra Bank (up 1.76%), HDFC Bank (up 1.19%), AU Small Finance Bank (up 1.15%), Yes Bank (up 1%), ICICI Bank (up 0.68%), Federal Bank (up 0.66%), Axis Bank (up 0.65%) and IndusInd Bank (up 0.42%) edged higher.

RBL Bank slipped 3.42% to Rs 249.95, extending recent losing streak on steep selling pressure. Shares of RBL Bank tumbled 19.30% to its current market price of Rs 249.95 in four trading sessions from its previous closing high of Rs 309.75 on 9 October 2019. The stock hit an intraday low of Rs 241.75 which is also a record low for the counter.

Kaveri Seeds Company rose 1.3%. The firm announced the launch of Biotechnology laboratory at Pamulaparthy in Telangana. The initiative is part of the company's focus on enhancing its R&D and aimed at improving agricultural productivity. The Biotechnology laboratory will be the largest for Kaveri Seeds and will help the company in developing plant breeding methods.

Key indices extended gains in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was up 230.29 points or 0.6% at 38,444.60. The Nifty 50 index was up 58.40 points or 0.51% at 11,399.55. The Nifty was trading near its 100-day simple moving average placed at 11,407.74.

Shares advanced amid hopes that the central bank will continue with accommodative policy and further cut key interest rates in the next policy review.

In the broader market, the S&P BSE Mid-Cap index rose 0.51% and S&P BSE Small-Cap index was up 0.19%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 865 shares rose and 830 shares fell. A total of 125 shares were unchanged. In Nifty 50 index, 38 stocks advanced while 12 stocks declined.

On the domestic front, the general consumer price index (CPI) inflation rose to 3.99% in September 2019, compared with 3.28% in August 2019. The corresponding provisional inflation rate for rural area was 3.24% and urban area 4.78% in September 2019 as against 2.25% and 4.49% in August 2019. The core CPI inflation eased to 3.99% in September 2019 compared with 4.20% in August 2019. The cumulative CPI inflation has declined to 3.27% in April-September FY2020 compared with 4.32% in April-September FY2019.

The Reserve Bank of India (RBI) aims to achieve the medium-term target for CPI inflation of 4% within a band of +/-2%, while supporting growth. RBI on 4 October reduced repo rate by 25 basis points (bps) to 5.15%. It was the fifth straight rate cut from the RBI, resulting in an overall decline of 135 bps or 1.35 percentage point in the key lending rate. The next meeting of the MPC is scheduled during 3-5 December 2019.

The Wholesale Price Index (WPI)-based inflation, base year 2011-12, dipped further down to 39-months low of 0.3% in September 2019 from 1.1% in August 2019. The WPI based inflation has been moderating consistently for last five straight months from 3.2% in April 2019. The data was unveiled during trading hours on Monday, 14 October 2019.

Shares of IRCTC was down 1.63% at Rs 716.75 amid profit booking after a stellar debut yesterday, 14 October 2019. The stock was listed at Rs 644 on BSE, a premium of 101.25% to the IPO price of Rs 320. It closed at Rs 728.60 on BSE, a premium of 127.69% over the IPO price.

The Nifty Auto index extended its gaining streak for third consecutive session. The index gained 3.18% in three trading session from its previous closing of 7359.65 on 10 October 2019. The Nifty Auto index was trading 0.97% higher at 7593.35.

Auto stocks advanced. Eicher Motors (up 4.39%), SML Isuzu (up 2.65%), Maruti Suzuki India (up 2.07%), Hero MotoCorp (up 2%), Ashok Leyland (up 2%), Mahindra and Mahindra (up 1.24%) and Bajaj Auto (up 0.81%) rose.

Jindal Drilling & Industries jumped 14.5% to Rs 82.5 after the company announced that it was awarded contract from ONGC. The contract is for charter hire of offshore drilling rig for period of 3 years.

Overseas, most Asian stocks were trading lower on Tuesday, following the previous day's rally, as new doubts emerged overnight about the U.S.-China partial trade deal. China wants another round of talks before signing what U.S. President Donald Trump last week called a very substantial phase one deal between the two countries.

U.S. Treasury Secretary Steven Mnuchin reportedly expects the mid-December round of tariffs to take effect if no deal is reached between the countries.

US stocks edged lower on Monday as investors turned their focus on the third-quarter earnings season, which begins in earnest on Tuesday.

Key barometers were trading near day's high in morning trade. At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 154.69 points or 0.4% at 38,369.16. The Nifty 50 index was up 49.05 points or 0.43% at 11,390.20. The Nifty was trading near its 100-day simple moving average placed at 11,407.74.

The S&P BSE Mid-Cap index was up 0.32%. The S&P BSE Small-Cap index was up 0.03%.

The market breadth was positive. On the BSE, 865 shares rose and 830 shares fell. A total of 125 shares were unchanged. In Nifty 50 index, 38 stocks advanced while 12 stocks declined.

Wipro (down 0.86%), ACC (up 0.05%), MCX (up 2.14%), SBI Life Insurance (up 0.93%) and TV 18 Broadcast (up 0.68%) will announce Q2 earnings today.

The Nifty Metal index was down 0.89% at 2,339.25. The index witnessed profit booking after rising 3.37% in previous two trading sessions.

Among metal shares, Jindal Steel & Power (down 2.71%), JSW Steel (down 2.46%), Steel Authority of India (down 1.68%), Vedanta (down 1.56%), Hindalco Industries (down 1.03%), Tata Steel (down 0.54%) and Hindustan Zinc (down 0.22%) declined.

IT major Infosys was down 1.88%, extending its recent losses. The stock tumbled over 5% in two trading session from its closing high of Rs 815.70 on 11 October 2019. The stock surged 4.19% on Friday ahead of Q2 earnings.

On a consolidated basis, Infosys' net profit rose 4.55% to Rs 3,971 crore on a 3.78% increase in total revenue from operations to Rs 22,629 crore in Q2 September 2019 over Q1 June 2019. The company's operating margin stood at 21.7% in Q2 September 2019 as against 20.5% in Q1 June 2019. The firm increased lower end of FY 2020 revenue guidance. Revised guidance is 9%-10% in constant currency. It maintained FY 2020 operating margin guidance range of 21%-23%.

GTPL Hathway fell 4.32% to Rs 89.35 after the company announced its result for Q2 September 2019 after trading hours yesterday, 14 October 2019. On a consolidated basis, the broadband service provider's net profit rose 97.2% to Rs 28.87 crore on a 94.9% increase in net sales to Rs 608.99 crore in Q2 September 2019 over Q2 September 2018. The company's consolidated EBITDA for Q2 September 2019 rose 41% to Rs 127.1 crore over Q2 September 2018. The company reported that it added 15,000 net broadband subscribers during Q2 and 11,000 FTTX subscribers. Total subscribers as on September 30, 2019 were 355,000 of which 75,000 are FTTX subscribers. The broadband average revenue per user (ARPU) for Q2 FY20 was maintained at Rs 415.

Delta Corp was down 0.91% to Rs 169.2 after the company reported weak Q2 earnings. On standalone basis, the company's net profit dropped 29.3% to Rs 44.92 crore in Q2 September 2019 as compared to Q2 September 2018. The net sales dropped 0.8% in Q2 September 2019 as compared to Q2 September 2018.

Lemon Tree Hotels was up 1.08% after the company unveiled a 142 room hotel in New Town, Kolkata. The company announced that the new hotel is in close proximity to the business and IT hub of New Town, SEZs, Rajarhat and Salt Lake. With opening of this hotel, the company presently operates 58 hotels across 35 cities in India.

On the domestic front, the general consumer price index (CPI) inflation rose to 3.99% in September 2019, compared with 3.28% in August 2019. The corresponding provisional inflation rate for rural area was 3.24% and urban area 4.78% in September 2019 as against 2.25% and 4.49% in August 2019. The core CPI inflation eased to 3.99% in September 2019 compared with 4.20% in August 2019. The cumulative CPI inflation has declined to 3.27% in April-September FY2020 compared with 4.32% in April-September FY2019.

The Reserve Bank of India (RBI) aims to achieve the medium-term target for CPI inflation of 4% within a band of +/-2%, while supporting growth. RBI on 4 October reduced repo rate by 25 basis points (bps) to 5.15%. It was the fifth straight rate cut from the RBI, resulting in an overall decline of 135 bps or 1.35 percentage point in the key lending rate. The next meeting of the MPC is scheduled during 3-5 December 2019.

The Wholesale Price Index (WPI)-based inflation, base year 2011-12, dipped further down to 39-months low of 0.3% in September 2019 from 1.1% in August 2019. The WPI based inflation has been moderating consistently for last five straight months from 3.2% in April 2019. The data was unveiled during trading hours on Monday, 14 October 2019.

Key indices are trading higher in early trade on buying demand in index pivotals. At 9:24 IST, the barometer index, the S&P BSE Sensex, was up 111.43 points or 0.29% at 38,325.90. The Nifty 50 index was up 12.40 points or 0.11% at 11,353.55.

The S&P BSE Mid-Cap index was up 0.21%. The S&P BSE Small-Cap index was up 0.19%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 587 shares rose and 467 shares fell. A total of 59 shares were unchanged.

FMCG major Hindustan Unilever (HUL) gained 1.5%. On a consolidated basis reported 22.73% rise in net profit to Rs 1814 crore on a 5.2% increase in total income to Rs 10229 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 14 October 2019.

Indiabulls Housing Finance lost 5.1%. The board of directors of Indiabulls Housing Finance considered the option of buyback of shares. Based on legal advice received on the subject of buyback, the board thought it prudent to first confirm with Sebi on the applicability of the debt-equity ratio of 6:1 as currently prescribed for subsidiary NBFC/ HFC in the Govt Gazette dated 19 September 2019 to be also applicable if the NBFC/HFC is not a subsidiary but the parent listed company itself as is the case with Indiabulls Housing Finance. The Board is inclined for a buyback of shares, the route being the buying of company shares through the exchanges and shall take final decision on this proposed Buyback upon receipt of confirmation from Sebi. The announcement was made after market hours yesterday, 14 October 2019.

Adani Transmission surged 4.85%. Adani Transmission has signed Share Purchase Agreement with REC Transmission Projects Company on 14 October 2019 for acquisition of its entire stake in WRSS XXI (A) Transco (WRSSTL). WRSSTL Project consists of approximately 272 ckt kms of 765kV line and 3000 MVA transformation capacity. The announcement was made after market hours yesterday, 14 October 2019.

Yes Bank rose 2%. Yes Bank has sold 5.10 crore equity shares, constituting 6.77% of the paid-up share capital of Fortis Healthcare (FHL) as at 30 June 2019, in various tranches last being on 14 October 2019 resulting into a change in holding of the bank by more than 2% of the total shareholding of FHL, from the last disclosure made by the bank on 10 June 2019. The announcement was made after market hours yesterday, 14 October 2019.

Lakshmi Vilas Bank dropped 4.96%. The bank said that RBI has imposed a penalty of Rs 1 crore on the bank for non-adherence to guidelines on IRAC norms and divergence in respect of two NPA accounts aggregating to Rs 169.50 crore for the year ended 31 March 2017. The announcement was made after market hours yesterday, 14 October 2019.

Overseas, most Asian stocks were trading higher on Tuesday as some investors held out hope that Britain still had a chance to avoid a messy exit from the European Union at key negotiations this week.

US stocks edged lower on Monday as uncertainties following recent US-China trade negotiations clouded sentiment and investors turned their focus on the third-quarter earnings season, which begins in earnest on Tuesday.

Indices extended gains and scaled fresh intraday high in mid-afternoon trade. The Nifty crossed 11,400 and was trading above its 100-day simple moving average placed at 11,408.72. Sentiment was positive amid strength in other Asian shares.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 337.31 points or 0.88% at 38,464.39. The Nifty 50 index was up 105 points or 0.93% at 11,410.05.

The S&P BSE Mid-Cap index was up 0.88%. The S&P BSE Small-Cap index was up 0.45%.

The market breadth was positive. On the BSE, 1268 shares rose and 1127 shares fell. A total of 213 shares were unchanged. In Nifty 50 index, 45 stocks advanced and 5 stocks declined.

Realty stocks were in demand. The Nifty Realty index was up 2.81% at 254.25 while the BSE Realty index was up 2.96% at 1,956.53.

Indiabulls Real Estate (up 4.95%), Anant Raj (up 4.5%), Oberoi Realty (up 1.41%), Sunteck Realty (up 2.18%), Sobha (up 2%), Godrej Properties (up 1.34%), Prestige Estates Projects (up 1.06%) and The Phoenix Mills (up 0.95%) advanced.

DLF surged 7.42% to Rs 156.35 after media reports suggested that the real estate developer clocked bookings of 376 residential apartments for Rs 700 crore in its project in New Gurugram. As per reports, the bookings were registered on the first day earlier this week, in the second phase of its premium Ultima project, which has a total of 504 apartments. Nearly three years back, the real estate firm had said that it will construct and complete its residential projects before selling, given the tepid sentiment among homebuyers to risk buying into under-construction projects, the reports added.

Den Networks rose 3.42%. On a consolidated basis, Den Networks reported a net profit of Rs 14.72 crore in Q2 September 2019 over a net loss of Rs 28 crore in Q2 September 2018. Net sales rose 7.1% to Rs 332.42 crore in Q2 September 2019 over Q2 September 2018.

Aurobindo Pharma gained 5.92% to Rs 464.05 after HDFC mutual fund hiked its stake in the pharmaceutical company by 2.01% to 7.12% on 9 October 2019. The company made the disclosure after trading hours on Friday, 11 October 2019.

Indiabulls Housing Finance fell 4.07% to Rs 201.40 after the Moody's Investors Service downgraded the corporate family rating (CFR) and the foreign-currency senior secured rating of the company to B2 from Ba2. In addition, Moody's has downgraded Indiabulls' foreign and local currency senior secured MTN program ratings to (P) B2 from (P) Ba2. The outlook on all ratings, where applicable, remains negative. The downgrade is driven by Indiabulls' ongoing challenging access to funding. Governance considerations were also a key driver of this rating action.

Meanwhile, the yield on 10-year benchmark federal paper fell to 6.698% at 14:16 IST compared with 6.727% at close in the previous trading session.

In the foreign exchange market, the partially convertible rupee edged lower and was hovering at 71.06, compared with its close of 71.0275, during the previous trading session.

In the commodities market, Brent crude for December 2019 settlement was down 55 cents at $59.96 a barrel. The contract rose 2.39% to settle at $60.51 a barrel during the previous trading session.

MCX Gold futures for 5 December 2019 settlement edged 0.38% higher at Rs 37,990.

Key equity benchmarks were trading in a narrow range with modest gains in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex was up 185.28 points or 0.49% at 38,312.36. The Nifty 50 index was up 58.45 points or 0.52% at 11,363.50. Sentiment was positive amid strength in other Asian shares.

The S&P BSE Mid-Cap index was up 0.92%. The S&P BSE Small-Cap index rose 0.46%.

The market breadth was positive. On the BSE, shares 1,229 rose and 1,096 shares fell. A total of 197 shares were unchanged.

On the macro front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 0.33% (provisional) for September 2019 (over September 2018) compared with 1.08% (provisional) in the previous month and 5.22% during the corresponding month of the previous year. The data was unveiled during trading hours today, 14 October 2019.

India's industrial production (IIP) declined 1.1% in August 2019, while snapping consistent growth for last 25 straight months. Also, the pace of decline in industrial production was highest in August 2019 for 2011-12 base year data. As per the revised data for industrial production of July 2019, the growth is higher at 4.6% compared with 4.3% growth reported provisionally. The data was announced after market hours on Friday, 11 October 2019.

India's growth rate is projected to fall to 6% in this fiscal year, the World Bank said in its latest edition of the South Asia Economic Focus. In 2018-19, the growth rate of the country stood at 6.9%. However, the World Bank said the country was expected to gradually recover to 6.9% in 2021 and 7.2% in 2022 as it assumed that the monetary stance would remain accommodative, given benign price dynamics.

Moody's Investors Service on Thursday, 10 October 2019, cut India's gross domestic product (GDP) growth forecast for 2019-20 to 5.8% from the earlier estimate of 6.2%. It attributed the deceleration to an investment-led slowdown that has broadened into consumption, driven by financial stress among rural households and weak job creation. It expects growth to pick up to 6.6% in FY21 and around 7% over the medium term.

FMCG major Hindustan Unilever (HUL) rose 0.30% ahead of its Q2 result today, 14 October 2019.

Tata Motors (up 6.27%), ONGC (up 4.34%) and Tata Steel (up 2.74%) advanced.

Bajaj Finance (down 1.29%), Hero MotoCorp (down 0.59%) and PowerGrid Corporation of India (down 0.37%) declined.

Software major Infosys lost 3.76%. On a consolidated basis, Infosys' net profit rose 4.55% to Rs 3,971 crore on a 3.78% increase in total revenue from operations to Rs 22,629 crore in Q2 September 2019 over Q1 June 2019. The result was announced after market hours on Friday, 11 October 2019.

The company's operating margin stood at 21.7% in Q2 September 2019 compared with 20.5% in Q1 June 2019. The firm increased lower end of FY 2020 revenue guidance. Revised guidance is 9%-10% in constant currency. It maintained FY 2020 operating margin guidance range of 21%-23%.

Sun Pharmaceutical Industries advanced 2.85% to Rs 397.30 after the drug major announced the launch CEQUA solution for the treatment of dry eye disease in the US. CEQUA (cyclosporine ophthalmic solution) has been approved by USFDA and offers the highest concentration of cyclosporine for ophthalmic use. CEQUA is indicated to increase tear production in patients with keratoconjunctivitis sicca (dry eye), an inflammatory disease that afflicts more than 16 million people in the US.

HCL Technologies gained 0.82% after the IT major completed the acquisition of Sankalp Semiconductors. The company, on 9 September 2019, announced the acquisition of Sankalp Semiconductors. The firm addressed that this acquisition would enable HCL to further expand into newer market-domains, especially in analog and mixed signal design.

JSW Steel rose 2.92% after media reports said that NCLAT stayed with the implementation of Bhushan Power sale to the company.

Overseas, European stocks fell Monday as the UK and the European Union are still divided on customs arrangements as they look to hammer out a deal for Britain's departure before the 31 October deadline.

Asian shares edged higher on Monday as investor sentiment improved following last week's high-level trade negotiations between the United States and China. Markets in Japan are closed for a public holiday.

The US agreed to postpone an increase in tariffs from 25% to 30% on at least $250 billion of Chinese goods, which had been scheduled for Tuesday.

However, customs data showed that China's import and export figures were worse than expected in September, with exports falling 3.2% on the year in US dollar terms, while imports declined 8.5%.

Meanwhile, US Federal Reserve announced that it would buy $60 billion of Treasury bills every month at least into the second-quarter, starting from next week. The central bank also said it would conduct overnight repurchase agreements at least through January of next year in order to reduce pressures in funding markets.

Key benchmark indices were trading near day's high in early afternoon trade. The Nifty continued to face a stiff resistance at 11,375 level. At 12:22 IST, the barometer index, the S&P BSE Sensex, was up 213.31 points or 0.56% at 38,340.39. The Nifty 50 index was up 67.8 points or 0.6% at 11,372.85.

The S&P BSE Mid-Cap index was up 0.86%. The S&P BSE Small-Cap index was up 0.43%.

The market breadth was tilted towards the buyers. On the BSE, 1164 shares rose and 1016 shares fell. A total of 193 shares were unchanged. In Nifty 50 index, 40 stocks advanced and 10 stocks declined.

On the macro front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 0.33% (provisional) for September 2019 (over September 2018) compared with 1.08% (provisional) in the previous month and 5.22% during the corresponding month of the previous year. The data was unveiled during trading hours today, 14 October 2019.

India's industrial production (IIP) declined 1.1% in August 2019, while snapping consistent growth for last 25 straight months. Also, the pace of decline in industrial production was highest in August 2019 for 2011-12 base year data. As per the revised data for industrial production of July 2019, the growth is higher at 4.6% compared with 4.3% growth reported provisionally. The data was announced after market hours on Friday, 11 October 2019.

India's growth rate is projected to fall to 6% in this fiscal year, the World Bank said. In 2018-19, the growth rate of the country stood at 6.9%. However, the bank in its latest edition of the South Asia Economic Focus said the country was expected to gradually recover to 6.9% in 2021 and 7.2% in 2022 as it assumed that the monetary stance would remain accommodative, given benign price dynamics.

Moody's Investors Service on Thursday, 10 October 2019, cut India's gross domestic product (GDP) growth forecast for 2019-20 to 5.8% from the earlier estimate of 6.2%. It attributed the deceleration to an investment-led slowdown that has broadened into consumption, driven by financial stress among rural households and weak job creation. It expects growth to pick up to 6.6% in FY21 and around 7% over the medium term.

On the derivatives front, the NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 1.95% to 17.4750. The Nifty October 2019 futures were trading at 11,373.95, a premium of 12.35 points compared with the spot at 11,361.60.

On the options front, the Nifty option chain for 31 October 2019 expiry showed maximum call open interest (OI) of 24.49 lakh contracts at the 12,000 strike price. Maximum put OI of 29.42 lakh contracts was seen at 11,000 strike price. The option chain indicates that Nifty will stay between 11,000 and 12,000 in October expiry.

In the spot market, Aurobindo Pharma gained 1.76% to Rs 445.80 after HDFC mutual fund hiked its stake in the pharmaceutical company by 2.01% to 7.12% on 9 October 2019.

HCL Technologies was up 1.31% after the IT firm completed the acquisition of Sankalp Semiconductors. The company on 9 September 2019 announced the acquisition of Sankalp Semiconductors. The company addressed that this acquisition would enable HCL to further expand into newer market-domains, especially in analog and mixed signal design.

Birlasoft advanced 9.02% to Rs 64.05 after the company signed $240 million multi‐year agreement to deliver IT‐as‐a‐ Service (ITaaS) to US-based Invacare. Birlasoft will build a new analytics platform and move the Invacare data centre to the cloud. The company will also implement a new product lifecycle management system and Invacare customers will benefit from a new ecommerce portal to access products, spares and supplies.

State run MSTC surged 4.25% after the company reported that it has been appointed as a 'selling agent' for disposal of scrap or rejected plant and machinery, vehicles, surplus stores or chemical waste by Northern Coalfields.

Key equity indices further extended gains and hit fresh intraday high in mid-morning trade. The Nifty faced strong resistance at 11,375 level. At 11:26 IST, the barometer index, the S&P BSE Sensex, was up 199.08 points or 0.52% at 38,326.16. The Nifty 50 index was up 60.9 points or 0.54% at 11,365.95.

The S&P BSE Mid-Cap index was up 0.79%. The S&P BSE Small-Cap index was up 0.52%. Both these indices outperformed the Sensex.

The market breadth was positive. On the BSE, 1138 shares rose and 882 shares fell. A total of 167 shares were unchanged. In the Nifty 50 index, 40 stocks advanced and 10 stocks declined.

IT major, Infosys witnessed profit booking. The stock was down 2.9% after surging 4.19% in Friday's session. On a consolidated basis, Infosys' net profit rose 4.55% to Rs 3,971 crore on a 3.78% increase in total revenue from operations to Rs 22,629 crore in Q2 September 2019 over Q1 June 2019. The company's operating margin stood at 21.7% in Q2 September 2019 as against 20.5% in Q1 June 2019. The firm increased lower end of FY 2020 revenue guidance. Revised guidance is 9%-10% in constant currency. It maintained FY 2020 operating margin guidance range of 21%-23%.

The Bank Nifty index was up 0.84% at 28,278.60.

Among private sector banks, IndusInd Bank (up 2.35%), Axis Bank (up 1.72%), HDFC Bank (up 1.15%), AU Small Finance Bank (up 0.5%), ICICI Bank (up 0.39%) and Kotak Mahindra Bank (up 0.11%) advanced.

Among PSU banks, Oriental Bank of Commerce (up 2.94%), Union Bank of India (up 2.45%), Bank of India (up 1.76%), Punjab National Bank (up 1.32%), State Bank of India (up 1.2%) and Syndicate Bank (up 0.2%) gained.

Sun Pharmaceutical Industries rose 2.17% to Rs 394.70 after the drug major announced the launch CEQUA solution for the treatment of dry eye disease in the U.S. CEQUA (cyclosporine ophthalmic solution) has been approved by USFDA and offers the highest concentration of cyclosporine for ophthalmic use. CEQUA is indicated to increase tear production in patients with keratoconjunctivitis sicca (dry eye), an inflammatory disease that afflicts more than 16 million people in the US.

GOCL Corporation surged 3.22% after the company received an order from Coal India for supplying bulk explosives. The 375 crore order was bagged by IDL Explosives, a wholly owned subsidiary of the company. The order is to be executed within 2 years.

Benchmark indices were trading near day's high in morning trade. The Nifty was trading near 11,350 level. Buying was broad based with metals stocks at the fore. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 136.92 points or 0.36% at 38,264. The Nifty 50 index was up 39 points or 0.34% at 11,344.05.

The broader market outperformed the key benchmarks. The S&P BSE Mid-Cap index was up 0.88%. The S&P BSE Small-Cap index was up 0.53%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 985 shares rose and 744 shares fell. A total of 144 shares were unchanged. In Nifty 50 index, 41 stocks advanced and 9 stocks declined.

On the macro front, India's industrial production (base year 2011-12=100) declined 1.1% in August 2019, while snapping consistent growth for last 25 straight months. Also, the pace of decline in industrial production was highest in August 2019 for 2011-12 base year data. As per the revised data for industrial production of July 2019, the growth is higher at 4.6% compared with 4.3% growth reported provisionally. The data was announced after market hours on Friday, 11 October 2019.

India's growth rate is projected to fall to 6% in this fiscal year, the World Bank said. In 2018-19, the growth rate of the country stood at 6.9%. However, the bank in its latest edition of the South Asia Economic Focus said the country was expected to gradually recover to 6.9% in 2021 and 7.2% in 2022 as it assumed that the monetary stance would remain accommodative, given benign price dynamics.

Moody's Investors Service on Thursday, 10 October 2019, cut India's gross domestic product (GDP) growth forecast for 2019-20 to 5.8% from the earlier estimate of 6.2%. It attributed the deceleration to an investment-led slowdown that has broadened into consumption, driven by financial stress among rural households and weak job creation. It expects growth to pick up to 6.6% in FY21 and around 7% over the medium term.

On the equity front, Hindustan Unilever (up 1.05%), Delta Corp (up 1.15%) and GTPL Hathway (up 13.5%) will announce their Q2 September 2019 results today.

Shares of IRCTC made a sensational debut on the bourses today, 14 October 2019. The stock was trading at Rs 692.45 at 10:25 IST on BSE, premium of 116.39% over the initial public offer (IPO) price of Rs 320. The stock debuted at Rs 644, premium of 101.25% to the IPO price. So far the stock hit a high of Rs 698 and low of Rs 625.

The IPO which was subscribed 112 times had opened for subscription on 30 September 2019 and closed on 3 October 2019. The price band for IPO was Rs 315 to Rs 320 per share.

Pharma major, Cadila Healthcare rose 0.5%. The company announced that it has received no observations from USFDA on its Active Pharmaceutical Ingredients (API) manufacturing facility at Dabhasa.

Adani Gas surged 13.5% to Rs 156.25 after the company signed definitive agreements with French multinational oil integrated company, Total. The definitive agreement will deepen their existing partnership as the companies will work together in exploring synergies in gas distribution, fuel retail and LNG. Total S.A. will purchase 37.4% shares in Adani Gas through a tender offer to public shareholders to acquire up to 25.2% shares, with an intention to acquire control of Adani Gas, subject to applicable regulations and purchase the residual shares from Adani Family. Accordingly, Total Holdings SAS will acquire up to 27.71 crore shares of Adani Gas, representing 25.2% of the voting share capital, at the price of Rs 149.63 per share, payable in cash. The partnership and equity support from the partners will help Adani Gas accelerate project executions in all its new geographical areas.

Metal stocks were in demand. The Nifty Metal index was up 1.82% at 2,379.75, extending Friday's 2.35% gains.

Jindal Steel & Power (up 3.75%), Tata Steel (up 3.57%), NMDC (up 3.21%), Vedanta (down 3.13%), Steel Authority of India (up 2.33%), Hindustan Copper (up 2.17%), National Aluminium Company (up 2.07%), Hindalco Industries (up 0.56%) and Hindustan Zinc (up 0.46%) advanced.

Key indices are trading higher in early trade on buying demand in index pivotals. At 9:21 IST, the barometer index, the S&P BSE Sensex, was up 133.08 points or 0.35% at 38,260.16. The Nifty 50 index was up 32.15 points or 0.28% at 11,337.20.

The S&P BSE Mid-Cap index was up 0.33%. The S&P BSE Small-Cap index was up 0.34%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 615 shares rose and 389 shares fell. A total of 62 shares were unchanged.

On the macro front, India's industrial production (base year 2011-12=100) declined 1.1% in August 2019, while snapping consistent growth for last 25 straight months. Also, the pace of decline in industrial production was highest in August 2019 for 2011-12 base year data. As per the revised data for industrial production of July 2019, the growth is higher at 4.6% compared with 4.3% growth reported provisionally. The data was announced after market hours on Friday, 11 October 2019.

India's growth rate is projected to fall to 6% in this fiscal year, the World Bank said. In 2018-19, the growth rate of the country stood at 6.9%. However, the bank in its latest edition of the South Asia Economic Focus said the country was expected to gradually recover to 6.9% in 2021 and 7.2% in 2022 as it assumed that the monetary stance would remain accommodative, given benign price dynamics.

Among stocks, software major Infosys lost 3.03%. Infosys' consolidated net profit rose 5.8% to Rs 4019 crore on a 3.8% increase in revenue from operations to Rs 22,629 crore in Q2 September 2019 over Q1 June 2019. The result was announced after market hours on Friday, 11 October 2019.

The company's operating margin stood at 21.7% in Q2 September 2019 compared with 20.5% in Q1 June 2019. The firm increased lower end of FY2020 revenue guidance. Revised guidance is 9%-10% in constant currency. It maintained FY2020 operating margin guidance range of 21%-23%.

Our performance was robust on multiple dimensions -revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition”, said Salil Parekh, CEO and MD.

Hindustan Unilever rose 0.51% ahead of its quarterly result today, 14 October 2019.

Bank of Baroda dropped 2.59%. Bank of Baroda has entered into binding transaction documents with BNP Paribas Asset Management Asia in relation to merger of Baroda Asset Management India with BNP Paribas Asset Management India and merger of BNP Paribas Trustee India with Baroda Trustee India. The announcement was made after market hours on Friday, 11 October 2019.

Avenue Supermarts fell 0.63%. On a consolidated basis, Avenue Supermarts' net profit rose 47.49% to Rs 323 crore on 22.44% increase in total revenue to Rs 5991 crore in Q2 September 2019 over Q2 September 2018. The result was announced on Saturday, 12 October 2019.

Consolidated EBITDA rose 33.25% to Rs 517 crore during the period under review. EBITDA margin improved to 8.6% in Q2 September 2019 from 7.9% in Q2 September 2018.

Bajaj Consumer Care slipped 0.89%. On a consolidated basis, Bajaj Consumer Care's net profit rose 11.2% to Rs 56.03 crore on a 3.2% increase in net sales to Rs 214.22 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours on Friday, 11 October 2019.

Overseas, Asian shares were trading higher on Monday as investors were heartened by Friday's announcement of a partial trade deal between the U.S. and China. Japan's Nikkei was closed for a holiday.

US stocks gained on Friday after the announcement of a partial trade deal between the United States and China.

President Trump said that the U.S. and China had reached a substantial, phase-one deal to ease trade tensions that will include Chinese promises to buy $40 - $50 billion more U.S. agricultural products in exchange for eliminating a planned increase in tariffs that had been set to into effect October 15. No decision has been made yet on planned on a new 15% tariff set to go into effect on December 15 on about $160 billion in annual Chinese imports.

Federal Reserve announced that it would buy $60 billion of Treasury bills every month at least into the second-quarter, starting from next week. The central bank also said it would conduct overnight repurchase agreements at least through January of next year in order to reduce pressures in funding markets.

The key indices firmed up once again in mid-afternoon session, supported by gains in IT and metal shares. The Nifty crossed its 200 day simple moving average placed at 11,270.61 and traded above the 11,300-mark. At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 273.75 points or 0.72% at 38,154.15. The Nifty 50 index was up 78.45 points or 0.7% at 11,313.

In the broader market, the S&P BSE Mid-Cap index was up 0.53%. The S&P BSE Small-Cap index was up 0.49%.

The market breadth was negative. On the BSE, 1063 shares rose and 1295 shares fell. A total of 190 shares were unchanged. In Nifty 50 index, 34 stocks advanced and 16 stocks declined.

Meanwhile, Chinese President Xi Jinping has touched down in Chennai for a two-day informal summit with Prime Minister Narendra Modi and received a grand cultural welcome with traditional dance performances at the airport. After landing in Chennai, Modi expressed the wish that the summit will further strengthen ties between India and China.

On the equity front, Indiabulls Real Estate was locked in an upper circuit of 5% at Rs 43.40. The board of directors of Indiabulls Real Estate approved a proposal to buyback upto 5 crore fully paid-up equity shares, or 11% equity, at Rs 100 each. The total buyback size is Rs 500 crore.

Indiabulls Ventures was up 6.17% at Rs 105.75. The board of directors of Indiabulls Ventures approved a proposal to buyback upto 6.66 crore fully paid-up equity shares, or 12.61% equity, at Rs 150 each. The total buyback size is Rs 1,000 crore.

Metal stocks advanced. Hindustan Zinc (up 1.88%), Tata Steel (up 1.61%), Vedanta (up 1.59%), Hindalco Industries (up 1.45%), NMDC (up 1.25%), Hindustan Copper (up 1.01%), Steel Authority of India (up 0.47%) and Jindal Steel & Power (up 0.42%) advanced. The S&P BSE Metal index was up 1.16% at 8,595.

IT stocks were buzzing. Hexaware Technologies (up 1.6%), Tech Mahindra (up 1.5%), HCL Technologies (up 1.23%), Zensar Technologies (up 1.2%), MindTree (up 1.09%), Oracle Financial Services Software (up 0.6%) and L&T Infotech (up 0.51%) edged higher.

IT major, Infosys was up 2.81% ahead of its Q2 September 2019 result today.

TCS was down 0.97%. The IT major reported 1.09% fall in consolidated net profit to Rs 8,042 crore on 1.23% rise in total income to Rs 40,338 crore in Q2 September 2019 over Q1 June 2019. The result was announced after market hours yesterday, 10 October 2019.

The company's board declared a second interim dividend of Rs 5 and a special dividend of Rs 40 per equity share of the company. The record date for the dividend is Friday, 18 October 2019.

Revenue growth in Q2 September 2019 was led by Life Sciences & Healthcare (+16%) and Communications & Media (+11.8%). All the other verticals including BFSI (+8%), Manufacturing (+7.8%), Technology & Services (+5.6%) and Retail & CPG (+4.8%) continued to grow.

Growth in Q2 September 2019 was led by Europe (+16%) and UK (+13.3%). North America and Asia Pacific grew 5.3% and 6.5% respectively. Emerging markets showed steady growth including India (+7.7%), MEA (+7.3%) and Latin America (+7.3%).

Commenting on the Q2 performance, Rajesh Gopinathan, chief executive officer and managing director, TCS said the company ended Q2 September 2019 with steady growth despite increased volatility in the financial services and retail verticals.

Meanwhile, the yield on 10-year benchmark federal paper rose to 6.706% at 14:21 IST compared with 6.679% at close in the previous trading session.

In the foreign exchange market, the partially convertible rupee edged higher and was hovering at 71.005, compared with its close of 71.0725, during the previous trading session.

In the commodities market, Brent crude for December 2019 settlement was up $1.16 at $60.26 a barrel. The contract rose 1.34% to settle at $59.1 a barrel during the previous trading session.

Crude oil prices flared up amid reports of an explosion in an Iranian tanker that has set the National Iranian Oil Company-owned vessel on fire near the Saudi port city of Jeddah. The explosion is said to have caused heavy damages to the vessel and oil is spilling into the Red Sea. The report further added that the reason for the explosion is still under investigation but reports suggested that it may be a terrorist attack.

MCX Gold futures for 5 December 2019 settlement edged 0.07% higher at Rs 38,187.

Key equity benchmarks were hovering in a narrow range with minor gains in afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex rose 119.33 points or 0.32% at 37,999.73. The Nifty 50 index also advanced 35.15 points or 0.31% at 11,269.70.

The S&P BSE Mid-Cap index was up 0.18%. The S&P BSE Small-Cap index rose 0.29%.

The market breadth was negative. On the BSE, shares 982 rose and 1,211 shares fell. A total of 171 shares were unchanged.

IT major Infosys rose 3.10% ahead of its Q2 result today, 11 October 2019.

Cipla (up 3.23%), Ultratech Cement (up 2.28%) and ONGC (up 2.23%) advanced. Yes Bank (down 5.13%), Mahindra & Mahindra (down 1.88%) and GAIL (down 1.57%) declined.

Tata Consultancy Services (TCS) declined 1.37%. The IT major reported 1.09% fall in consolidated net profit to Rs 8,042 crore on 1.23% rise in total income to Rs 40,338 crore in Q2 September 2019 over Q1 June 2019. The result was announced after market hours yesterday, 10 October 2019.

The company's board declared a second interim dividend of Rs 5 and a special dividend of Rs 40 per equity share of the company. The record date for the dividend is Friday, 18 October 2019.

Revenue growth in Q2 September 2019 was led by Life Sciences & Healthcare (+16%) and Communications & Media (+11.8%). All the other verticals including BFSI (+8%), Manufacturing (+7.8%), Technology & Services (+5.6%) and Retail & CPG (+4.8%) continued to grow.

Growth in Q2 September 2019 was led by Europe (+16%) and UK (+13.3%). North America and Asia Pacific grew 5.3% and 6.5% respectively. Emerging markets showed steady growth including India (+7.7%), MEA (+7.3%) and Latin America (+7.3%).

Commenting on the Q2 performance, Rajesh Gopinathan, chief executive officer and managing director, TCS said the company ended Q2 September 2019 with steady growth despite increased volatility in the financial services and retail verticals.

Tata Steel advanced 1.40%. Tata Steel's India production volumes rose 4.65% to 4.5 million tons while the sales volumes fell 4.17% to 4.14 million tons in Q2 September 2019 over Q2 September 2018. The announcement was made after market hours yesterday, 10 October 2019.

IndusInd Bank was trading 1.46% lower at Rs 1,211, extending yesterday's 6.15% fall triggered by the company's Q2 earnings. IndusInd Bank's net profit rose 50.32% to Rs 1,383.37 crore on a 31.40% increase in total income to Rs 8,877.02 crore in Q2 September 2019 over Q2 September 2018. The bank's provisions and contingencies jumped 24.98% to Rs 737.71 crore in Q2 September 2019 over Q2 September 2018. The result was announced during market hours yesterday, 10 October 2019.

Shares of state-run oil marketing companies declined after crude oil prices firmed up in the international commodity market. Indian Oil Corporation (IOCL) (down 3%) and Bharat Petroleum Corporation (BPCL) (down 0.92%) declined.

In the commodities market, Brent crude for December 2019 settlement was up $1.04 at $60.14 a barrel. The contract rose 45 cents or 1.34% to settle at $59.10 a barrel during the previous trading session.

Crude oil prices flared up amid reports of an explosion in an Iranian tanker that has set the National Iranian Oil Company-owned vessel on fire near the Saudi port city of Jeddah. The explosion is said to have caused heavy damages to the vessel and oil is spilling into the Red Sea. The report further added that the reason for the explosion is still under investigation but reports suggested that it may be a terrorist attack.

Overseas, shares in Europe and Asia were trading higher on Friday as high-level U.S.-China trade talks progressed into a second day and optimism grew that a truce can be achieved.

US stocks rose on Thursday on hopes that top-level US-China trade talks would yield at least a partial deal, while a jump in Apple's shares also boosted the market.

US President Donald Trump said trade talks between US and Chinese officials on Thursday went very well and the two sides had a very, very good negotiation.