Key indices trimmed gains in mid-morning trade. At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 87.28 points or 0.24% at 36,060.99. The Nifty 50 index was up 22.50 points or 0.21% at 10,857.80. Capital goods stocks edged higher.
The Sensex was currently trading above 36,000 level after moving above that level in opening trade. Trading for the day began on an upbeat note as the key benchmark indices drifted higher in early trade on buying demand in index pivotals. Stocks held firm in morning trade.
The S&P BSE Mid-Cap index was up 0.65%. The S&P BSE Small-Cap index was up 0.92%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1537 shares rose and 602 shares fell. A total of 116 shares were unchanged.
Capital goods stocks edged higher. ABB India (down 0.83%), Bharat Heavy Electricals (Bhel) (up 0.93%), BEML (up 2%), Bharat Electronics (up 1.38%), L&T (up 1.67%), Siemens (up 0.47%) and Thermax (up 1.33%) gained.
BEML rose 2.85% after the company said it received contract worth about Rs 400 crore for 7 metro train sets of 6 cars configuration to augment the metro services in Bengaluru. The announcement was made during trading hours today, 27 February 2019.
Overseas, most Asian stocks were trading higher Wednesday as investors awaited the outcome of a summit between President Donald Trump and North Korean leader Kim Jong Un in Vietnam. Kim and Trump both arrived in Hanoi on Tuesday and begin their meetings later in the day.
U.S. stocks closed lower Tuesday after weaving in and out of positive territory all session following Federal Reserve Chairman Jerome Powell's congressional testimony, during which he reiterated the central bank's wait-and-see approach.
Investors have been focused on U.S.-China trade developments after Trump in recent days indicated that he was willing to extend a March 2 deadline for increasing tariffs on some $200 billion in Chinese goods.
In economic data, Consumer confidence surged in February, rising for the first time in four months, as the Conference Board's consumer confidence index rose to 131.4, up from 121.7 in January.
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