Key benchmarks were hovering near the higher end of the trading range in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 183.10 points or 0.48% at 38,416.51. The Nifty 50 index was up 49.85 points or 0.43% at 11,533.10.
Prime Minister Narendra Modi on Wednesday, 27 March 2019, announced successful launch of the country's Anti Satellite Missile System (ASAT). India is the fourth country to achieve this feat. In an address to the Nation, PM announced that India struck down a live test satellite in Low Earth Orbit (LEO) thus successfully testing its ASAT system. This operation is named as Mission Shakti. This system was developed by DRDO - the research wing of Indian Defence services. This test will now make India the fourth nation with anti satellite capability.
Local indices drifted higher in early trade on buying demand in index pivotals. Key benchmark indices hovered near day's high in morning trade. Firmness prevailed on the bourses in mid-morning trade. Indices trimmed gains in early afternoon trade.
The S&P BSE Mid-Cap index was up 1.10%. The S&P BSE Small-Cap index was up 0.60%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1284 shares rose and 1232 shares fell. A total of 155 shares were unchanged.
Yes Bank (up 5.26%), IndusInd Bank (up 4.36%), State Bank of India (up 1.86%), HCL Technologies (up 1.77%), Vedanta (up 1.47%) and Bajaj Finance (up 1.45%), were the major Sensex gainers.
Asian Paints (down 0.74%), Power Grid Corporation of India (down 0.62%), Sun Pharmaceutical Industries (down 0.55%), Maruti Suzuki India (down 0.42%) and Hero MotoCorp (down 0.4%), were the major Sensex losers.
NTPC fell 0.79%. NTPC has launched and priced an issue of 3.75% U.S.D 450,000,000 notes due 2024 on 26 March 2019. The Notes carry a coupon of 3.75% per annum payable semi-annually. The Notes are expected to be settled by 3 April 2019. The Notes will mature on 3 April 2024 and all principal and interest payments will be made in U.S. Dollars. The announcement was made during market hours today, 27 March 2019.
Dr. Reddy's Laboratories rose 0.34%. Dr. Reddy's Laboratories announced appointment of Allan Grant Oberman as an additional director, categorized as independent, on the board of the company for a period of five years, effective 26 March 2019. The announcement was made after market hours yesterday, 26 March 2019.
Overseas, Asian stocks were mixed after US stocks finished broadly higher on Wall Street. US stocks closed higher Tuesday as the energy and financial sectors buoyed the market, but main indexes came off their intraday highs on tepid housing and consumer-confidence data as well as lingering uncertainties over global growth and Brexit.
US-China trade negotiations resumed, reigniting some optimism that the high-stakes dispute was coming to a close. Cabinet-level trade negotiations between Beijing and Washington were scheduled to kick off, with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin due in China later this week to help conclude long-running discussions between the world's two largest economies.
Investors were also monitoring Brexit, after U.K. lawmakers decided late Monday to wrest control of the process of leaving the European Union away from Prime Minister Theresa May in a move that will prompt a series of votes this week aimed at easing legislative gridlock. A disorderly exit from the EU by Britain could unsettle global benchmarks.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
