Key indices hovered in positive zone in mid-morning trade. At 11:19 IST, the barometer index, the S&P BSE Sensex, was up 35.18 points or 0.09% at 37,787.35. The Nifty 50 index was up 2.60 points or 0.02% at 11,344.30. Telecom stocks saw mixed trend.
Domestic stocks drifted higher in early trade on buying demand in index pivotals. Stocks trimmed gains in morning trade.
The S&P BSE Mid-Cap index was off 0.18%. The S&P BSE Small-Cap index was off 0.01%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1007 shares rose and 1148 shares fell. A total of 119 shares were unchanged.
HDFC Bank shed 0.18% to Rs 2,222. The stock hit an all-time high of Rs 2,247.25 in intraday trade.
Telecom stocks saw mixed trend. Bharti Airtel (up 1.01%) and Vodafone Idea (up 0.29%) rose. MTNL (down 0.44%), Tata Teleservices (Maharashtra) (down 4.62%) and Reliance Communications (down 3.05%) fell.
Shares of Bharti Infratel rose 0.45%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.
DCM Shriram rose 3.26% after the company announced commissioning 30 megawatts power plant at DSCL Sugar Hariawan unit in Uttar Pradesh. The announcement was made after market hours yesterday, 13 March 2019.
Overseas, most Asian stocks were trading higher. U.S. stocks closed higher Wednesday, as investors parsed economic data that included stronger-than-expected durable goods orders and further signs that inflation remains subdued.
The Commerce Department report also showed core capital orders, a key measure of business investment, rising 0.8% in January after falling sharply the two months previous.
In Europe, the U.K. Parliament on Wednesday voted against a no-deal Brexit, a day after lawmakers rejected Prime Minister Theresa May's revised Brexit deal in a 242-391 vote. On Thursday, they will decide on whether to request an extension to the March 29 deadline to reach a trade agreement with the European Union.
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