Trading for the truncated trading week started on a positive note with a hint of caution as key indices traded with small gains. Indices extended the small gains posted last week. At 9:17 IST, the barometer index, the S&P BSE Sensex, was up 34.24 points or 0.12% at 29,746.40. The Nifty 50 index was up 13.90 points or 0.15% at 9,212.20. The gains were led by metal and energy stocks. Markets remain closed on Friday, 14 April 2017 on account of holiday.
The BSE Mid-Cap index was up 0.28%. The BSE Small-Cap index was up 0.5%. Both these indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was strong. On the BSE, 1,259 shares rose and 319 shares fell. A total of 55 shares were unchanged.
Coal India, Reliance Industries and Cipla rose by 0.68% to 1.22%, leading the Sensex pack.
Maruti Suzuki India gained 0.45% after the company said its total production rose 10.29% to 1.53 lakh units in March 2017 over March 2016. The announcement was made after market hours on Friday, 7 April 2017.
L&T rose 0.25% after the company's board at a meeting held on Friday, 7 April 2017, approved appointment of A. M. Naik as the Non-Executive Chairman of the company with effect from 1 October 2017 for a period of three years, immediately upon his retirement as the Executive Chairman on 30 September 2017.
The board also approved appointment of S. N. Subrahmanyan as the Chief Executive Officer & Managing Director with effect from 1 July 2017. The announcement was made after market hours on Friday, 7 April 2017.
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IndusInd Bank declined 0.03%. The bank said it has recently inaugurated its first branch in Gaya, Bihar. With the inauguration of this branch, the bank now has 18 branches in Bihar. The announcement was made after market hours on Friday, 7 April 2017.
Indiabulls Housing Finance dropped 1.25%, The company said it allotted its sixteenth tranche of secured, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each aggregating to Rs 43 crore. The announcement was made after market hours on Friday, 7 April 2017.
Overseas, Asian stocks were mixed as caution prevailed as increased geopolitical risks prompted investors to favour safe-haven bets such as government debt. Top aides to US President Donald Trump differed on Sunday, 9 April 2017. on where US policy on Syria was headed after last week's attack on a Syrian air base, while US Secretary of State Rex Tillerson warned the strikes were a warning to other nations, including North Korea.
On economic data front in Asia, Japan's current account surplus stood at 2.81 trillion yen ($25.26 billion) in February, finance ministry data showed, the biggest surplus since March 2016. The result is the 32nd straight month of current account surpluses. This February's current account surplus was the largest on record for February.
US stocks closed with small losses on Friday, 7 April 2017, after increased geopolitical concerns amid US air strikes against Syria and weaker than expected nonfarm payrolls data weighed on sentiment. The Bureau of Labor Statistics reported Friday, 7 April 2017, nonfarm payrolls grew by just 98,000 in March, well below expectations, but the unemployment rate fell to a 10-year low of 4.5%.
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