Key benchmarks extended gains and hit fresh intraday high in afternoon trade led by steady buying in index pivotals Reliance Industries, TCS and L&T. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 154.34 points or 0.44% at 35,370.66. The Nifty 50 index was up 37.70 points or 0.35% at 10,755.50. Telecom stocks rose. Capital goods stocks saw mixed trend.
Among secondary barometers, the BSE Mid-Cap index was down 0.39%. The BSE Small-Cap index was up 0.18%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,316 shares fell and 1,220 shares rose. A total of 127 shares were unchanged.
Capital goods stocks saw mixed trend. Bharat Heavy Electricals (Bhel) (up 1.32%), Bharat Electronics (up 0.42%), L&T (up 0.98%) and Siemens (up 0.74%) rose. Thermax (down 0.56%), BEML (down 0.81%) and Punj Lloyd (down 2.11%) fell.
ABB India fell 1.1%. The company's net profit rose 13.9% to Rs 102.49 crore on 16.92% rise in total income to Rs 2552.39 crore in Q1 March 2018 over Q1 March 2017. The announcement was made after market hours yesterday, 8 May 2018.
Telecom stocks rose. Bharti Airtel (up 1.56%), Idea Cellular (up 0.16%), Reliance Communications (up 0.33%) and Tata Teleservices (Maharashtra) (up 1.81%) rose. MTNL (down 0.54%) fell.
Shares of Bharti Infratel rose 1.84%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.
Overseas, European shares were supported by strength in oil stocks after US President Donald Trump pulled the United States out of Iran's nuclear agreement, boosting crude prices. Asian shares saw mixed trend.
US stocks came off their lows on Tuesday to end a choppy session little changed, after Trump announced the US was abandoning the 2015 Iran nuclear deal, which was forged by former President Barack Obama three years ago. The president also said he planned to ramp up penalties against Tehran, including the highest level of economic sanctions.
In US, an index of small-business optimism from the National Federation of Independent Businesses ticked up 0.1 point to 104.8 in April. Separately, a report on US job openings, known as the Job Openings and Labor Turnover Survey, or JOLTS, showed a record 6.6 million job openings in March.
Meanwhile, US Fed Chairman Jerome Powell reportedly said early Tuesday at an event in Switzerland that emerging-market economies should be able to manage as advanced economies move toward tighter monetary policy.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
