6:00 PM Mumbai – Stocks in Mumbai extended gains for the fifth day in a row after trade deficit edged lower. Exports and imports declined 11% and trade gap fell to $8.32 billion. HDFC net surged 13% on 19% increase in revenues. HDFC Bank net climbed 20%. ONGC net plunged 50%. Sun Pharma net fell 7%.
Market indexes in Mumbai extended gains for the fifth day in a row and the Sensex index closed at a two-week high.
Trade deficit in the January narrowed to $8.32 billion compared to $9.45 billion in the year-ago period, according to the data released by the government agency.
Exports declined 11.19% to $23.88 billion compared to $26.89 billion last year and Imports slipped 11.39% to $32.2 billion from $36.3 billion in the same month last year.
India’s Wholesale Price Index, a measure of wholesale inflation, in the January fell to -0.39% compared with 0.11% in December, according the statistics bureau of India.
Indian rupee eased 88 paisa to 62.16 against one dollar.
The Sensex Index rose 40.95 to close at 29,135.88. The CNX Nifty added 3.85 to 8,809.35.
Gainers & Losers
Housing Development and Infrastructure Limited
jumped 6.9% to ₹117.80 after the real estate developer said net in the third-quarter surged more than ten-fold to ₹359.48 crore.
Net revenues soared 301.1% to ₹67.29 crore.
Housing Development Finance Corporation Ltd
advanced 1.6% to ₹1,288.70 after the home loans provider said net in the third-quarter jumped 12.61% to ₹2,179.01 crore.
Total revenues climbed 18.89% to ₹11,952.48 crore.
HDFC Bank Limited
added 0.1% to ₹1,067.10 after the financial service provider reported net in the third-quarter climbed 20.2% to ₹2,794.50 crore.
Net revenues soared 21.4% to ₹8,234.80 crore.
climbed 3% to ₹389.55 after the consumer and tobacco products maker agreed to acquire the U.S.-based Johnson and Johnson’s brands of Savlon and Shower to Shower talc.
Oil and Natural Gas Corporation Ltd
rose 0.3% to ₹340.70 after the oil explorer said net in the third-quarter tumbled 49.88% to ₹3,571.20 crore.
Total revenues slipped 13.66% to ₹20,302.02 crore.
Rural Electrification Corporation Limited
jumped 3.5% to ₹338 after the utility provider said net in the third-quarter advanced 12.4% to ₹1,379.83 crore.
Total revenues jumped 19% to ₹5,244.32 crore.
Reliance Communications Limited
gained 4.3% to ₹75.15 after the telecommunications service provider reported net in the third-quarter soared 31% to ₹201 crore.
Total revenues increased 1.2% to ₹5,469 crore.