Key indices nudged higher in early trade on buying demand in index pivotals. At 9:30 IST, the barometer index, the S&P BSE Sensex, was up 119.66 points or 0.31% at 38,252.54. The Nifty 50 index was up 37.50 points or 0.33% at 11,482.55.
Trading could be volatile as traders roll over positions in the F&O segment from the near month March 2019 series to April 2019 series. The March 2019 F&O contracts expire today, 28 March 2019.
The S&P BSE Mid-Cap index was up 0.48%. The S&P BSE Small-Cap index was up 0.55%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 868 shares rose and 317 shares fell. A total of 58 shares were unchanged.
Overseas, shares in Asia declined on Thursday following an overnight slip on Wall Street after the closely-watched 10-year Treasury yield touched its lowest in more than a year. U.S. stocks on Wednesday bounced off session lows but finished in the red as sentiment remained sensitive to mounting signs of slowing global growth, reflected in falling bond yields on the heels of increasingly dovish central banks.
On the U.S.-China trade front, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are set to resume negotiations with their Chinese counterparts in Beijing on Thursday, in a bid to strike a deal on trade.
In economic data, the U.S. trade deficit narrowed in January to a five-month low of $51.1 billion versus $59.9 billion in December. Data from China's National Bureau of Statistics, meanwhile, showed that profits at industrial firms fell by 14% in January and February, the largest decline since 2011.
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Back home, NBCC (India) gained 2.12%. NBCC (India) has secured new orders for five infrastructure projects. The total estimated costs of these projects is approximately Rs 1003 crore. The announcement was made after market hours yesterday, 27 March 2019.
Dabur India shed 0.65%. Dabur India said that the dissolution of step down wholly owned subsidiary, Dabur Tunisie, is likely to be completed by 31 December 2019, instead of March 2019, due to certain legal and regulatory compliances under the law of Tunisia. The announcement was made after market hours yesterday, 27 March 2019.
Nelco gained 2.23%. Nelco said its board has granted in principle approval for sale of the company's entire investment of 2.53 lakh equity shares, or 12.30% equity, of Nelito Systems at a consideration of Rs 6.77 crore to DTS Corporation, Japan. The announcement was made after market hours yesterday, 27 March 2019.
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