Key benchmark indices were trading lower in early trade. At 9:28 IST, the barometer index, the S&P BSE Sensex, was down 26.99 points or 0.09% at 29,620.43. The Nifty 50 index was currently down 11.95 points or 0.13% at 9,161.80. Investors booked profits after gains in past three sessions.
Among secondary barometers,the BSE Mid-Cap index was currently up 0.51%. The BSE Small-Cap index was currently up 0.57%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,109 shares rose and 405 shares fell. A total of 76 shares were unchanged.
Overseas, Asian shares were mixed and the dollar extended its overnight gains today, 31 March 2017, on signs of strong US economic growth.
Activity in China's manufacturing sector expanded to 51.8 in March, an official survey showed, beating expectations for 51.6. The services sector rose to 55.1 from 54.2 in February. The 50-point mark separates growth from contraction.
Japan's core consumer prices rose 0.2% in February. While that is the fastest annual pace in nearly two years, it is still distant from the central bank's 2% target.
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US stocks closed higher yesterday, 30 March 2017, as financial shares rallied following a positive reading of economic growth and the tech-heavy Nasdaq returned to finish in record territory after a month-long wait.
The US economy, as measured by gross domestic product, expanded at a 2.1% annualized pace in the fourth quarter, slightly faster than the previously reported 1.9% rate. Separately, jobless claims fell by 3,000 to 258,000 in the latest week, near their lowest level in decades.
Back home, Berger Paints India was down 0.13%. The company said it has commenced commercial production of its integrated paint and putty plant at Naltali, Nagaon, Assam on 30 March 2017. The plant has an annual capacity of 48,000 KL/MT per annum of water based paints, 24,000 KL of solvent based paints, 14,000 MT of Resin and 24,000 MT of wall putty. Thus, Berger Paints India has now commenced production at two of its plants in Assam - one for the Berger Division at Naltali and the other for the British Paints Division at Nalbari. The announcement was made after market hours yesterday, 30 March 2017.
NTPC was up 0.61%. The company said that consequent upon testing and commissioning, 260 megawatts (MW) capacity (4x65 MW) of Bhadla solar PV project at Bhadla Rajasthan, is declared on commercial operation on 25 March 2017. With this, the commercial capacity of NTPC and NTPC group has become 40,522 MW and 47,293 MW respectively. The announcement was made after market hours yesterday, 30 March 2017.
TCS was down 0.52%. The company said that the company has collaborated with SATS, Asia's leading provider of airport ground handling and food solutions services, to develop a smart watch solution that is believed to be the world's first mobile solution for airport Technical Ramp operations. The Technical Ramp Smart Watch solution is now supporting SATS' operations at Singapore's Changi Airport, a leading global hub of travel, technology adoption and efficiency. The announcement was made after market hours yesterday, 30 March 2017.
Jindal Steel & Power (JSPL) was up 3.70%. The company said its board at a meeting held yesterday, 30 March 2017, approved issue of 4.80 crore convertible warrants to Opelina Finance and Investment, a promoter group entity on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals. The board also approved the issue of 14.20 lakh equity shares to Nalwa Steel & Power on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals. The announcement was made after market hours yesterday, 30 March 2017.
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