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. Powered by Capital Market - Live News |