Key benchmark indices were trading higher in early trade, tracking positive global leads. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 45.72 points or 0.12% at 38,917.59. The Nifty 50 index was up 0.85 points or 0.01% at 11,670.00.
Among secondary barometers,the BSE Mid-Cap index was up 0.09%. The BSE Small-Cap index was up 0.08%.
The market breadth, indicating the overall health of the market, was positive. On BSE, 573 shares rose and 461 shares fell. A total of 55 shares were unchanged.
Overseas, Asian stocks were trading higher Tuesday following overnight gains on Wall Street. US stocks ended higher Monday, boosted by better-than-expected economic reports, momentarily allaying fears of flagging economic growth.
Investors were also hopeful for a resolution to the US-China trade conflict, with a Chinese delegation led by Vice Premier Liu He set to visit Washington later this week.
On Monday, the Institute for Supply Management's manufacturing index showed that activity in the sector accelerated, coming in at a stronger-than-expected 55.3 in March versus a two-year low of 54.2% a month earlier. A reading above 50 indicates an expansion in activity.
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Back home, Tata Motors was down 0.40%. Tata Motors Commercial and Passenger Vehicles Business sales in the domestic market for FY19 (April 2018 - March 2019), grew by 16% with 678,486 units as compared to 586,507 units over the same period Last year. In March 2019, the company witnessed its sales drop by 1% to 68,709 units as against 69,409 units sold in March 2018, as weak consumer sentiments continued. The announcement was made after market hours yesterday, 1 April 2019.
TVS Motor Company was up 0.42%. The company registered sales of 325,345 units in March 2019 as against 326,667 units in March 2018. The announcement was made after market hours yesterday, 1 April 2019.
Eicher Motors was up 2.50%. The company's total sales fell 20% at 60,831 units in March 2019 over March 2018. The announcement was made after market hours yesterday, 1 April 2019.
Maruti Suzuki India was up 0.65%. The company has announced a price increase upto Rs 689 (Ex- Showroom - Delhi) across models on account of regulatory compliances. The new prices are effective from 1 April 2019. The announcement was made after market hours yesterday, 1 April 2019.
Cipla was up 0.05%. The company's wholly owned subsidiary in USA i.e. Cipla Technologies LLC, has signed a binding term sheet with Pulmatrix Inc., ("Pulmatrix") for an investment in Phase 2 ready asset co-development and licensing opportunity for Pulmazole (Inhaled ltraconazole) for an upfront consideration of USD 22 million. Entry into a definitive agreement is contingent upon Pulmatrix raising additional funds from the market. Upon signing the definitive agreement, the co-development cost towards development and the total free cash flow in relation to commercialization of Pulmazole will be further shared by both the parties in a phased manner. The announcement was made after market hours yesterday, 1 April 2019.
On the economic front, the output of eight core industries, comprising 40.27% of the weight of items included in the Index of Industrial Production (IIP), rose 2.1% in February 2019. The cumulative output has improved 4.3% in April to February 2018-19.
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