Key indices hovered in positive zone in mid-morning trade. At 11:26 IST, the barometer index, the S&P BSE Sensex, was up 162.93 points or 0.43% at 38,295.81. The Nifty 50 index was up 59.15 points or 0.52% at 11,504.20. IT stocks gained.
The market sentiment was boosted by data showing that foreign funds and domestic funds, both, were net buyers of Indian stocks yesterday, 27 March 2019. The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1,481.11 crore yesterday, 27 March 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 134.92 crore yesterday, 27 March 2019, as per provisional data.
Key indices nudged higher in early trade on buying demand in index pivotals. Stocks extended gains and hit fresh intraday high in morning trade.
Trading could be volatile as traders roll over positions in the F&O segment from the near month March 2019 series to April 2019 series. The March 2019 F&O contracts expire today, 28 March 2019.
The S&P BSE Mid-Cap index was up 0.56%. The S&P BSE Small-Cap index was up 0.68%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1431 shares rose and 712 shares fell. A total of 111 shares were unchanged.
Larsen & Toubro rose 0.09% after the company said its construction arm has secured significant contracts from clients across different states in India. The announcement was made during trading hours today, 28 March 2019.
Also Read
IT stocks gained. TCS (up 0.9%), Infosys (up 1.6%), Wipro (up 0.57%), HCL Technologies (up 2.91%), Oracle Financial Services Software (up 0.75%), Tech Mahindra (up 1.26%), MindTree (up 0.38%), Hexaware Technologies (up 0.22%) and Mphasis (up 1.18%) rose.
Unichem Laboratories rose 2.51%. Unichem Laboratories announced that it has received final approval for its abbreviated new drug application (ANDA), Tadalafil tablets, 2.5 mg, 5 mg 10 mg and 20 mg from the United States Food and Drug Administration (USFDA). Tadalafil tablets are a generic version of Eli Lilly's Cialis tablets. The drug is indicated for the treatment of erectile dysfunction (ED), the signs and symptoms of benign prostatic hyperplasia (BPH) and ED and the signs and symptoms of BPH (EDIBPH). The announcement was made after market hours yesterday, 27 March 2019.
Overseas, Asian stocks declined on Thursday following an overnight slip on Wall Street after the closely-watched 10-year Treasury yield touched its lowest in more than a year. U.S. stocks on Wednesday bounced off session lows but finished in the red as sentiment remained sensitive to mounting signs of slowing global growth, reflected in falling bond yields on the heels of increasingly dovish central banks.
On the U.S.-China trade front, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are set to resume negotiations with their Chinese counterparts in Beijing on Thursday, in a bid to strike a deal on trade.
In economic data, the U.S. trade deficit narrowed in January to a five-month low of $51.1 billion versus $59.9 billion in December. Data from China's National Bureau of Statistics, meanwhile, showed that profits at industrial firms fell by 14% in January and February, the largest decline since 2011.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content