Stocks trimmed gains in early afternoon trade. At 12:25 IST, the barometer index, the S&P BSE Sensex, was up 33.52 points or 0.1% at 34,534.79. The Nifty 50 index was down 1.30 points or 0.01% at 10,569.25. The market breadth, indicating the overall health of the market, was negative.
Domestic stocks drifted higher in early trade. Stocks hovered in positive zone in morning trade. Key equity benchmarks traded with modest gains in mid-morning
The S&P BSE Mid-Cap index was off 0.26%. The S&P BSE Small-Cap index was up 0.05%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,358 shares fell and 1,001 shares rose. A total of 133 shares were unchanged.
TCS (up 1.19%), IndusInd Bank (up 0.96%) and Tata Motors (up 0.91%) edged higher from the Sensex pack.
Wipro (down 2.68%), Bharti Airtel (down 2.19%) and NTPC (down 1.02%) edged lower from the Sensex pack.
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ICICI Lombard General Insurance Company lost 2.76%. The company's net profit rose 17.93% to Rs 211.87 crore on 14.91% rise in total income to Rs 2148.81 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 25 April 2018.
Cadila Healthcare rose 1.07%. Zydus Cadila has received the final approval from the USFDA to market Methylprednisolone Tablets USP in the strengths of 4 mg, 8 mg, 16 mg and 32 mg. It is used to treat conditions suchasarthritis, blood disorders, severe allergic reactions, certain cancers, eye conditions, skin/kidney/intestinal/lung diseases and immune system disorders. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. The announcement was made after market hours yesterday, 25 April 2018.
Overseas, Asian stocks were mostly higher on optimism over earnings after Samsung Electronics posted a record quarterly profit. Meanwhile, the Bank of Japan is reportedly likely to keep its policy unchanged when it ends a two-day rate review tomorrow, 27 April 2018.
US stocks fluctuated yesterday, 25 April 2018 before closing mixed as strong earnings from the likes of Boeing and Texas Instruments helped investors shrug off worries about higher interest rates.
The Dow Jones Industrial Average rose 0.3% to snap a five-day losing streak and the S&P 500 inched up 0.2% while the tech-heavy Nasdaq Composite slid 0.1%.
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