Sensex Trades Marginally Lower; Axis Bank & Infosys Top Losers

Share markets in India are presently trading on a cautious note, ahead of the release of domestic GDP data.

Reportedly, GDP data is expected to show India's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment.

Further, heightened US-China tensions weakened sentiment.

The BSE Sensex is trading down by 142 points while the NSE Nifty is trading down by 26 points.

The BSE Mid Cap index is trading up by 1%, while the BSE Small Cap index is trading up by 1.2%.

Sectoral indices are trading on a mixed note with stocks in the banking sector and IT sector witnessing selling pressure, while healthcare stocks are trading in green.

Gold prices are trading up by 0.3% at Rs 46,550 per 10 grams.

The rupee is trading at 75.63 against the US$.

Market participants are tracking 3M India share price, Voltas share price and Jubilant Life Science share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

Apart from the above, market participants are also tracking Wipro share price as the company appointed Thierry Delaporte as its chief executive officer and managing director.

In news from the automobile sector, shares of TVS Motor Company slipped over 3% in early trade today after the company reported a 43.3% decline in its consolidated net profit to Rs 818.5 million for Q4FY20.

The two-wheeler major's total income declined from 16.9% to Rs 41.3 billion.

The company reported profit before tax of Rs 1,148.3 million as compared to Rs 2,171.9 million during Q4FY19.

The company reported total sales of 32.63 lakh units in 2019-20 as against 39.14 lakh units in 2018-19.

During the fourth quarter, the company's overall two-wheeler and three-wheeler sales, including exports, stood at 6.33 lakh units as compared with 9.07 lakh units registered in the quarter ended March 2019.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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