Key benchmark indices were trading with small gains in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 35.78 points or 0.09% at 38,130.85. The Nifty 50 index was up 15.60 points or 0.14% at 11,477.80.
Among secondary barometers,the BSE Mid-Cap index was up 0.22%. The BSE Small-Cap index was up 0.24%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 597 shares rose and 380 shares fell. A total of 56 shares were unchanged.
Overseas, Asian shares were trading lower ahead of a closely watched meeting by the US Federal Reserve set to kick off later in the day.
US stocks closed modestly higher Monday, as investors prepared for a meeting of Federal Reserve policy makers to begin Tuesday. The Fed is expected to leave rates unchanged when it concludes a two-day meeting on Wednesday. Investors will focus on the statement issued by policy makers.
On the US data front, the National Association of Home Builders' monthly confidence index was unchanged at a seasonally-adjusted reading of 62.
In Europe, Britain's parliament banned another vote on same Brexit deal. Prime Minister Theresa May's third attempt to get parliament to back her Brexit deal were thrown into further turmoil on Monday when the speaker of parliament ruled that she could not put her divorce deal to a new vote unless it was re-submitted in fundamentally different form. May has only two days to win approval for her deal to leave the European Union if she wants to go to a summit with the bloc's leaders on Thursday with something to offer them in return for more time.
Back home, HCL Technologies was up 0.66%. The company has entered into a shared services arrangement with Xerox Corporation pursuant to which Xerox will outsource (subject to compliance with European works council consultation and employment regulatory requirements) certain global administrative and support functions, including, among others, selected information technology and finance functions (excluding accounting). The announcement was made after market hours yesterday, 18 March 2019.
Aarti Industries was up 0.07%. The company said that the meeting of the Board of Directors of the company is scheduled on 22 March 2019 to consider and approve the issue price for equity shares to be allotted to the qualified institutional buyers in the proposed issue, including a discount, if any, as permitted under the SEBI ICDR Regulations. The announcement was made after market hours yesterday, 18 March 2019.
Majesco was up 1.53%. The company announced the acquisition of the India based insurance software business from its parent company, Majesco. The business will be acquired by Majesco's 100% subsidiary in India, Majesco Software And Solutions India (MSSIPL), and is subject to statutory approvals including approval of the shareholders of Majesco and shall be effective from 1 April 2019. The announcement was made after market hours yesterday, 18 March 2019.
Voltas was up 0.23%. The company has further strengthened its leadership position in the Cooling Products space, by launching its new range of Voltas Adjustable Inverter ACs. Voltas' Adjustable Inverter AC comes with the unique value proposition of 'Flexible Air Conditioning' that allows the user to switch from 1.5 Ton to 1 Ton capacity, and vice versa, depending on the ambient heat or number of people in the room; leading to savings and optimization of running cost. The announcement was made after market hours yesterday, 18 March 2019.
ISGEC Heavy Engineering was up 1.63%. The company has fixed 29 March 2019 as the record date for the purpose of sub-division of 1 equity share of Rs 10 each into 10 equity shares of Re 1 each. The announcement was made after market hours yesterday, 18 March 2019.
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