Trading for the day began on an upbeat note as the key indices nudged higher in early trade on positive Asian stocks. At 9:18 IST, the barometer index, the S&P BSE Sensex, was up 151.90 points or 0.41% at 36,796.32. The Nifty 50 index was up 46.80 points or 0.43% at 10,894.70.
The S&P BSE Mid-Cap index was up 0.24%. The S&P BSE Small-Cap index was up 0.16%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 405 shares rose and 196 shares fell. A total of 25 shares were unchanged.
Overseas, Asian stocks were trading higher on Friday amid signs of easing US-China trade tensions.
As per reports, China and the US have agreed to hold the next round of trade negotiations in Washington in early October to end the bruising trade war following an agreement that both sides will jointly take concrete actions to create favourable conditions for the talks.
US stocks surged on Thursday on expectations of a de-escalation in trade tensions after Washington and Beijing agreed to hold high-level talks next month, while strong US economic data eased fears of a domestic slowdown.
In economic data, the US services sector slowed in August, according to the Markit Services Purchasing Managers' Index, which fell from 53 in July to 50.7 in August. The more closely watched ISM nonmanufacturing index, however, came in at 56.4%, up from the 53.7% reading in July.
Back home, Reliance Industries rose 0.42%. Jio announced the commencement of JioFiber, its Fiber to the Home service, across 1,600 cities in India. JioFiber will offer broadband speed from 100 Mbps and go all the way up to 1 Gbps. JioFiber monthly plan rentals start at Rs 699 and go up to Rs 8,499. Reliance Jio Infocomm (Jio) is a subsidiary of Reliance Industries. The announcement was made after market hours yesterday, 5 September 2019.
TCS announced that it has expanded its strategic partnership with Posten Norge AS, a Nordic postal and logistics group, to build a digital stack that will enable product innovation and a superior customer experience. The announcement was made after market hours yesterday, 5 September 2019. The stock slipped 0.04%.
Bajaj Finance gained 0.83%. Bajaj Finance has scheduled a board meeting on 17 September 2019 to consider and approve proposal for raising of funds by way of qualified institutions placement (QIP). The announcement was made after market hours yesterday, 5 September 2019.
Tech Mahindra advanced 3.45%. Tech Mahindra announced expansion of its strategic collaboration with AT&T to accelerate AT&T's IT network application, shared systems modernization and movement to the cloud. Tech Mahindra will assume management of many of the applications which support AT&T's network and shared systems. The announcement was made after market hours yesterday, 5 September 2019.
Datamatics Global Services (DGSL) surged 9.12%. Bangalore International Airport (BIAL) announced a strategic technology partnership with Datamatics Global Services (DGSL) to transform BIAL into a future-ready digital organization. This involves automating and digitizing more than 170 processes across the organization. The announcement was made after market hours yesterday, 5 September 2019.
Prabhat Dairy was locked in 20% upper circuit filter at Rs 78.15. Prabhat Dairy has scheduled a board meeting on 10 September 2019,to consider and approve proposal received from the promoters for voluntary delisting of the equity shares of the company. The announcement was made after market hours yesterday, 5 September 2019.
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