Stocks trimmed gains in morning trade after an initial upmove. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 64.82 points or 0.17% at 38,710. The Nifty 50 index was up 23.10 points or 0.2% at 11,617.55.
Local stocks nudged higher in early trade on buying demand in index pivotals.
The S&P BSE Mid-Cap index was off 0.05%. The S&P BSE Small-Cap index was up 0.05%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 909 shares rose and 901 shares fell. A total of 94 shares were unchanged.
Sun Pharmaceutical Industries (up 1.9%), ONGC (up 1.68%), Hero MotoCorp (up 1.44%), Reliance Industries (up 1.32%) and Yes Bank (up 1.22%) edged higher from the Sensex pack.
Tata Steel (down 1.49%), Bharti Airtel (down 0.98%), NTPC (down 0.85%), TCS (down 0.73%) and L&T (down 0.65%) edged lower from the Sensex pack.
Sunteck Realty rose 0.36%. Sunteck Realty announced that its board will meet on 2 May 2019, to approve raising of funds by way of debt or equity or any other convertible securities etc. and through QIP, FPO, ADR, GDR, rights issue, debt issue, preferential issue, FCCB etc. or any other mode for raising of funds. The board will also consider audited standalone and consolidated financial results of the company for the quarter and year ended on 31 March 2019. The announcement was made after market hours yesterday, 22 April 2019.
Bank of India rose 0.22%. Bank of India said it has allotted 51.76 crore fresh equity shares of Rs 10 each to Government of India (promoters) at Rs 89.60 per share amounting to Rs 4638 crore through preferential issue. The announcement was made after market hours yesterday, 22 April 2019.
On the political front, as many as 116 Lok Sabha constituencies are undergoing polls today, 23 April 2019, across 14 states and Union Territories in Phase 3 of the 2019 general election. The 2019 general election, which is scheduled to be held in seven phases, kicked off on 11 April 2019 and will conclude on 19 May 2019. The counting of votes will be conducted on 23 May, and on the same day the results will be declared.
Overseas, Asian shares were trading lower on Tuesday with concerns China may slow the pace of policy easing.
US stocks ended a low-volume trading session little changed on Monday, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings.
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