Key benchmark indices firmed up and hit fresh intraday high in afternoon trade. At 13:21 IST, the barometer index, the S&P BSE Sensex, rose 98.41 points or 0.30% at 32,694.95. The Nifty 50 index was up 16 points, or 0.16% at 10,014.05. The Nifty regained the psychological 10,000 mark. Recovery in other Asian shares boosted gains in domestic shares.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.08%. The S&P BSE Small-Cap index rose 0.05%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On BSE, 1,643 shares declined and 928 shares advanced. A total of 168 shares were unchanged.
Metal shares were mixed. Vedanta (down 2.24%), National Aluminium Company (down 1.58%), Hindustan Copper (down 0.71%), Jindal Steel & Power (down 0.56%), Hindalco Industries (down 0.41%) and Hindustan Zinc (down 0.13%), edged lower. Tata Steel (up 0.02%), JSW Steel (up 0.94%), Steel Authority of India (up 1.38%) and NMDC (up 2.37%), edged higher.
Meanwhile, copper price edged lower in the global commodities markets. High Grade Copper for May 2018 delivery was currently down 1.27% at $2.955 per pound on the COMEX.
Auto shares were mixed. TVS Motor Company (up 1.32%), Mahindra & Mahindra (up 1.25%), Maruti Suzuki India (up 1.02%), Ashok Leyland (up 0.74%) and Escorts (up 0.74%), edged higher. Eicher Motors (down 0.21%), Bajaj Auto (down 0.3%), Hero MotoCorp (down 0.34%) and Tata Motors (down 1.42%), edged lower.
Overseas, most Asian stocks edged higher, reversing intraday losses. US stocks fell sharply on Friday, 23 March 2018 as investors assessed the possibility of a trade war brewing between the US and China.
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Meanwhile, reports suggested that China and the US have quietly started negotiating to improve US access to Chinese markets, after a week filled with harsh words from both sides over Washington's threat to use tariffs to address trade imbalances.
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