Stocks hovered in positive zone in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 65.91 points or 0.17% at 37,874.82. The Nifty 50 index was up 20.25 points or 0.18% at 11,374.50.
Local stocks were trading with small gains in early trade. A bout of volatility was seen as the key indices extended gains in morning trade.
The S&P BSE Mid-Cap index was up 0.52%. The S&P BSE Small-Cap index was up 0.39%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1275 shares rose and 925 shares fell. A total of 141 shares were unchanged.
Larsen & Toubro rose 0.05%. L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won a large order from Tawfiq Coke Products-Oman. The contract scope includes selection of technology licensor, FEED & EPC for a 2 x 225,000 TPA plant of calcined coke from green pet coke. Process facilities include material handling, rotary kiln and cooler, combustion chamber, gas separation and associated offsite & utilities packages. The company said the order fall under "large" category which ranges between Rs 2,500 crore and Rs 5,000 crore as per its classification of contracts. The announcement was made during trading hours today, 26 March 2019.
Realty stocks gained. DLF (up 7.6%), Indiabulls Real Estate (up 3.81%), Housing Development and Infrastructure (up 2.82%), D B Realty (up 1.94%), Sobha (up 1.12%) and Oberoi Realty (up 0.82%) gained. Godrej Properties (down 2.07%) and Prestige Estates Projects (down 0.83%) fell.
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Aurionpro Solutions lost 3.26%. Aurionpro Solutions announced that its board approved the buyback of upto 10.81 lakh shares, or 4.61% of equity capital, at a maximum price of Rs 185 per share, for a total amount not exceeding Rs 20 crore. The announcement was made after market hours yesterday, 25 March 2019.
Overseas, most Asian stocks were trading higher. U.S. stocks closed mostly lower Monday after data showing weakness on the global economic front triggered heavy losses at the end of last week while investors continued to fret over the inversion of the yield curve. However, the Dow bucked the trend to rise as shares of Boeing Co. rallied after recent losses.
Meanwhile, the markets showed little reaction to the end of Special Counsel Robert Mueller's probe into Russian meddling in the 2016 presidential election.
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