Key equity indices extended gains and hit fresh intraday high in afternoon trade. At 13:34 IST, the barometer index, the S&P BSE Sensex, was up 341 points or 0.93% at 37,012.43. The Nifty 50 index was up 122.75 points or 1.11% at 11,158.15.
The Sensex was currently trading below the psychological 37,000 mark after hitting intraday high just above that level in mid-morning trade. Trading for the week began on upbeat note on buying demand in index pivotals. The Sensex held firm in morning trade. Key benchmark indices extended gains and hit fresh intraday high in mid-morning trade.
The S&P BSE Mid-Cap index was up 1.79%. The S&P BSE Small-Cap index was up 1.55%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1649 shares rose and 778 shares fell. A total of 174 shares were unchanged.
Bharti Airtel (up 4.96%), NTPC (up 4.46%), Coal India (up 4.09%), Power Grid Corporation of India (up 4.01%), Vedanta (up 2.76%) and Hero MotoCorp (up 2.73%), were the major Sensex gainers.
IndusInd Bank (down 0.78%), HCL Technologies (down 0.44%), Infosys (down 0.38%) and HDFC Bank (down 0.02%), were the major Sensex losers.
TCS fell 0.51%. TCS has launched a new version of the Metadata Registrv and Transformation (MRT) Platform that helps life sciences companies streamline their clinical data management by automating clinical study design and set up and conversion of clinical data into standard formats for greater interoperability across the clinical trial phases. The announcement was made during market hours today, 11 March 2019.
Meanwhile, Lok Sabha elections will be held in seven phases from April 11 to May 19 and counting will take place on May 23. However, elections for the Jammu and Kashmir Assembly, will not be held along with the Lok Sabha polls due to security reasons, the Election Commission said on Sunday.
Overseas, most Asian stocks edged higher as Chinese markets rebounded on hopes of more policy support for the slowing economy. China's central bank on Sunday pledged to increase loans and lower borrowing costs after a sharp drop in bank lending in February.
Investors awaited more details about US - China trade talks. US stocks finished lower Friday for a fifth session in a row, after a disappointing jobs report added to concerns about slowing global growth.
Labor Department announced the U.S. economy added just 20,000 new jobs in February. The unemployment rate fell to 3.8% from 4%, while workers saw an 11 cent-an-hour increase in average hourly earnings, the largest gain since the end of the 2009 recession.
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