Key indices were trading higher in line Asian markets. At 9:18 IST, the barometer index, the S&P BSE Sensex, was up 96.25 points or 0.23% at 41,402.27. The Nifty 50 index was up 31.05 points or 0.25% at 12,213.55.
The S&P BSE Mid-Cap index was up 0.23%. The S&P BSE Small-Cap index was up 0.31%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 241 shares rose and 86 shares fell. A total of 25 shares were unchanged.
Among stocks, VA Tech Wabag rose 1.5%. VA Tech Wabag said it has secured Rs 1,187 crore worth order from Bihar Urban Infrastructure Development Corporation under the prestigious National Mission for Clean Ganga Scheme to develop Sewage Treatment Plants of 150 MLD capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna. This project comprises of a Design, Build and Operate scope worth Rs 940 crore and Hybrid Annuity scope worth around Rs 247 crore.
Tata Motors advanced 0.33%. Tata Motors announced its sales in the domestic & international market, for the month of December 2019, which stood at 46,903 vehicles, compared to 54,439 units during December 2018, down 13.8%. Total domestic auto sales fell 12% to 44254 units in December 2019 compared with 50440 units in December 2018. The company unveiled its first premium hatchback 'Altroz' and Nexon EV and received an overwhelming response.
Eicher Motors was up 0.43%. Eicher Motors said VE Commercial Vehicles, its unlisted subsidiary, reported 19.1% decline in total commercial vehicle sales to 5,042 units in December 2019 from 6,236 units in December 2018.
JBM Auto went up 1.62%. JBM Auto said the merger of JBM Auto System Private and JBM MA Automotive with itself got effective from 1 January, 2020. Now onwards, JBM Auto will be a merged entity. The post-merger revised paid-up equity share capital of the company will be Rs 23.65 crore.
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Future Retail was down 0.03%. Future Retail informed that a meeting of the board of directors of the company is scheduled to be held on 4 January, 2020 to consider and approve the proposal for raising of funds.
Jagran Prakashan fell 0.48%. Jagran Prakashan said the company has bought back 33,15,206 equity shares during 16 December 2019 to 31 December 2019 and extinguished 22,89,486 equity shares on 31 December 2019. The balance 10,25,720 equity shares are pending to be credited to demat account and will be extinguished in the manner specified in the SEBI Buyback Regulations.
Overseas, Asian markets were trading higher buoyed by Chinese markets after Beijing eased monetary policy to support slowing growth.
China's central bank on Wednesday said that it would cut the amount of cash that banks must hold as reserves, releasing around 800 billion yuan in funds effective 6 January 2020.
A private survey released on Thursday showed China's manufacturing activity expanded in the month of December. The Markit/Caixin Purchasing Managers' Index (PMI) for manufacturing came in at 51.5, compared to 51.8 in November.
In US, markets were closed on account of the New Year holiday on Wednesday.
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