Key benchmark indices firmed up once again and were trading near day's high in afternoon trade. At 13:17 IST, the barometer index, the S&P BSE Sensex, was up 121.06 points or 0.33% at 36426.08. The Nifty 50 index was up 8.10 points or 0.07% at 10,975.50.
Broader market witnessed selling pressure. Among secondary barometers, the BSE Mid-Cap index was down 0.70%. The BSE Small-Cap index was down 1.15%.
The market breadth, indicating the overall health of the market, was negative. On BSE, 965 shares rose and 1514 shares fell. A total of 135 shares were unchanged.
Axis Bank (up 3.25%), Sun Pharmaceutical Industries (up 3.02%), Yes Bank (up 2.50%), Maruti Suzuki India (up 2.32%), IndusInd Bank (up 2.20%) and Hindustan Unilever (up 2.12%), were major Sensex gainers.
IT major Infosys was up 2.13%. Infosys announced that Infosys Public Services Inc. (IPS) received a CAD $80.3 million contract by Public Services and Procurement Canada (PSPC) to modernize and automate their procurement processes. IPS is working with Ernst & Young LLP (EY) and SAP Canada Inc. (SAP) to digitize PSPC procurement system through the implementation and management of a cloud-based electronic procurement solution. The announcement was made after market hours yesterday, 24 September 2018.
Adani Ports & Special Economic Zone (down 3.07%), Power Grid Corporation of India (down 2.85%), Bharti Airtel (down 2.36%), Tata Steel (down 2.1%), NTPC (down 1.99%), Coal India (down 1.95%) and ICICI Bank (down 1.33%), were the major Sensex losers.
Overseas, European stocks traded mostly higher on Tuesday morning, supported by strong earnings.
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Asian stocks were mixed. Markets in Hong Kong and South Korea are closed for public holidays. Investors were cautious as the latest round of US-China tariffs revived fears the trade dispute would knock global growth, while crude oil was elevated near four-year highs after Saudi Arabia and Russia ruled out immediate production increases.
US stocks closed mostly lower Monday as the US-China trade war entered a new phase when tariffs on billions of dollars of products took effect. Investors were also looking ahead to the Federal Reserve's two-day monetary policy meeting, which wraps Wednesday and is likely to result in another interest-rate hike.
On the US economic data front, the Chicago Fed's national activity index came in at 0.18 in August, unchanged with the previous month.
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