Domestic stocks edged higher in early trade tracking positive Asian stocks. At 09:25 IST, the barometer index, the S&P BSE Sensex, was up 117.85 points or 0.35% at 33,937.35. The Nifty 50 index was up 33.40 points or 0.32% at 10,416.10.
The S&P BSE Mid-Cap index was up 0.59%. The S&P BSE Small-Cap index was up 0.62%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,111 shares rose and 376 shares fell. A total of 49 shares were unchanged.
Overseas, Asian stocks were trading higher as investors continue to debate the outlook for central bank policy normalization and the impact of higher bond yields. In US, the Dow and the S&P 500 closed higher while the Nasdaq slipped yesterday, 22 February 2018 as investors grappled with the threat from higher interest rates.
On the data front, initial US jobless claims fell by 7,000 to 222,000 in the seven days ended 17 February 2018, marking the second lowest level since the end of the 2007-2009 recession.
Back home, Sun Pharmaceutical Industries (up 2.33%), Tata Steel (up 1.74%) and Bharti Airtel (up 1.23%) edged higher from the Sensex pack.
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Yes Bank rose 0.6%. The bank announced the approval of final terms and allotment of 30,000 rated, listed, non-convertible, redeemable, unsecured, Basel III compliant Tier 2 bonds, in the nature of debentures, aggregating to Rs 3000 crore. The announcement was made after market hours yesterday, 22 February 2018.
Adani Transmission rose 1.47% after the company said it has received the letter of intent (LoI) from PFC Consulting, a wholly owned subsidiary of Power Finance Corporation, to construct, own, operate and maintain the transmission project in Rajasthan. The announcement was made after market hours yesterday, 22 February 2018.
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