Stocks hovered in a small range with positive bias in mid-morning trade. At 11:22 IST, the barometer index, the S&P BSE Sensex, was up 106.38 points or 0.3% at 35,563.54. The Nifty 50 index was up 22.25 points or 0.21% at 10,704.45. Shares of index heavyweight Reliance Industries gained.
Domestic stocks opened on a firm note on buying demand in index pivotals. Stocks trimmed gains in morning trade.
The S&P BSE Mid-Cap index was up 0.2%. The S&P BSE Small-Cap index was up 0.22%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1149 shares rose and 1047 shares fell. A total of 125 shares were unchanged.
Index heavyweight Reliance Industries gained 1.11% to Rs 1,140
Realty stocks gained. Oberoi Realty (up 3.33%), DLF (up 2.01%), Indiabulls Real Estate (up 2.1%), Housing Development and Infrastructure (up 0.68%), D B Realty (up 0.96%), Unitech (up 1.79%), Sobha (up 0.26%) and Prestige Estates Projects (up 0.87%) gained. Godrej Properties (down 0.91%) fell.
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Siemens fell 4.41% after net profit fell 55.24% to Rs 279.20 crore on 25.30% increase in total income to Rs 4015.60 crore in Q4 September 2018 over Q4 September 2017. The result was announced on 18 November 2018.
For the fourth quarter of financial year 2018, new orders grew by 38.1% to Rs 3720 crore compared to Rs 2694 crore in the fourth quarter of financial year 2017. New orders for the financial year 2018 were Rs 12740 crore. The order backlog as of 30 September 2018 stood at Rs 12352 crore.
On the political front, second phase of assembly elections will be held in Chhattisgarh tomorrow, 20 November 2018. Assembly elections in Madhya Pradesh and Mizoram will be held on 28 November 2018. Polling in Rajasthan and Telangana will be held on 7 December 2018. Counting of votes will be held across all the five states on 11 December 2018.
Overseas, most Asian stocks were trading higher even as investors remained cautious of tensions between the US and China after a pan-Pacific summit ended without consensus on trade issues. On the data front, Japan's monthly balance of trade tumbled to a deficit of 449 billion yen ($3.95 billion) in October amid elevated trade tensions and ramped up pressure to cut its trade surplus with the US, data from the country's finance ministry showed Monday.
US stocks closed mostly higher on Friday, 16 November 2018 after comments from President Donald Trump once again sparked hopes that a trade dispute with China could be resolved in the near term. But the Nasdaq bucked the trend to finish lower as a decline in chip maker shares, led by Nvidia Corp., dented sentiment in the technology sector.
Industrial production rose just 0.1% in October, the Federal Reserve reported Friday. Compared to 12 months earlier, industrial production rose 4.1%.
In Europe, investors were closely watching developments in the UK, with Prime Minister Theresa May defiantly pledging her commitment to seeing Britain's exit from the European Union, despite several top-level resignations and growing doubts about her leadership.
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