Stocks trimmed gains in morning trade after an upbeat start. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 162.16 points or 0.46% at 35,113.08. The Nifty 50 index was up 43.80 points or 0.42% at 10,567.80. The Sensex was trading above the psychological 35,000 level after regaining that level in opening trade.
Domestic stocks saw a positive opening led by buying demand in index pivotals.
The S&P BSE Mid-Cap index was off 0.02%. The S&P BSE Small-Cap index was up 0.44%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1145 shares rose and 739 shares fell. A total of 88 shares were unchanged.
Overseas, Asian stocks were mixed as investors looked to the US midterm elections set for later in the day. US stocks logged a mixed performance yesterday, 5 November 2018, ahead of an updated policy statement from the Federal Reserve and midterm elections that could alter the balance of power in Washington.
Midterm congressional elections, which are expected to see Democrats take control of the House and Republicans maintain a grip on the Senate, take place Tuesday. On Thursday, the Fed concludes a two-day policy meeting, which isn't expected to deliver a change in rates, but may offer fresh insights to investors about the pace of coming rate increases and the effects of trade clashes between the US and China on the domestic economy.
In US economic data, the ISM services index slipped to 60.3 in October, down from 61.6 in September.
Back home, Tata Motors (up 3.82%), Adani Ports & Special Economic Zone (up 2.22%), Vedanta (up 2.04%), TCS (up 2.02%) and Reliance Industries (up 1.58%) edged higher from the Sensex pack.
State Bank of India (down 1.64%), ITC (down 0.72%) and M&M (down 0.69%) edged lower from the Sensex pack.
Wipro rose 0.34% after the company announced a new partnership with Check Point Software Technologies, a leading provider of cyber security solutions globally, to deliver Check Point's advanced and dynamic cloud security solution, CloudGuard IaaS. This strategic worldwide partnership will further accelerate demand for the CloudGuard comprehensive suite of cloud security products, which are focused on advanced threat prevention and safeguarding enterprise cloud applications, infrastructure, and data against the most sophisticated fifth-generation cyber-attacks threatening organizations today. The announcement was made after market hours yesterday, 5 November 2018.
Bodal Chemicals rose 0.34% after the company said that the majority of dye intermediate operations had restarted. Earlier, the company had intimated to the exchanges about partial disruption in operations in certain dye intermediates and dyestuffs of the company. The announcement was made after market hours yesterday, 5 November 2018.
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