Key indices extended gains and hit fresh intraday high in afternoon trade on steady buying demand in index pivotals. At 13:15 IST, the barometer index, the S&P BSE Sensex, was up 350.28 points or 0.89% at 39,852.33. The Nifty 50 index was up 91 points or 0.77% at 11,952.10.
On NSE, the May 2019 Futures and Options (F&O) contracts are set for expiry today, 30 May 2019.
Broader market underperformed the Sensex. The BSE Mid-Cap index was up 0.31%. The BSE Small-Cap index was up 0.19%.
The market breadth was negative. On BSE, 1171 shares rose and 1184 shares fell. A total of 147 shares were unchanged.
NTPC (up 3.25%), Bharti Airtel (up 2.75%), Yes Bank (up 2.34%), TCS (up 1.98%) and HDFC (up 1.39%) edged higher from the Sensex pack.
Power Grid Corporation of India was down 0.5%. The company's net profit rose 51.91% to Rs 3053.96 crore on 18.66% rise in total income to Rs 9610.24 crore in Q4 March 2019 over Q4 March 2018. The announcement was made after market hours yesterday, 29 May 2019.
Bharat Electronics was up 2.1%. The company's net profit rose 19.67% to Rs 668.62 crore on 9.97% rise in total income to Rs 4013.43 crore in Q4 March 2019 over Q4 March 2018. The announcement was made after market hours yesterday, 29 May 2019.
SJVN advanced 3.95% after net profit jumped 245.3% to Rs 458.92 crore on 84.1% rise in total income to Rs 887.30 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 29 May 2019.
On the political front, Narendra Modi will take oath as the Prime Minister of India for the second consecutive term at Rashtrapati Bhavan at 19:00 IST today, 30 May 2019.
Overseas, European stocks edged higher as investors assessed warning signals for growth amid the latest trade developments.
Asian shares were mixed. Investors continue to watch for developments on the US-China trade front, with Beijing making threats this week.
US stocks fell on Wednesday as bond yields declined again, triggering concerns about the economic outlook. Increasing trade tensions in the China-US trade fight also weighed on markets.
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