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IT stocks advance

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The stock market continued to trade with modest gains in mid-morning trade on positive global cues. At 11:15 IST, the barometer index, the Sensex, rose 97.19 points or 0.29% at 33,448.76. The index advanced 37.10 points or 0.36% at 10,279.75. Global stocks gained as fears of trade wars appear to subside after US implemented and aluminum import tariffs that excluded and

Key indices started the session on a positive note on firm global cues. Indices extended gains in morning trade. The indices trimmed some intraday gains in mid-morning trade.

Among secondary indices, the Mid-Cap index advanced 0.18%, underperforming the Sensex. The Small-Cap index rose 0.41%, outperforming the Sensex.

The breadth, indicating the overall health of the market, was positive. On the BSE, 1,351 shares advanced and 905 shares declined. A total of 101 shares were unchanged.

Realty stocks advanced. (up 1.67%), Sobha (up 0.49%), Estate (up 0.38%), HDIL (up 0.35%), (up 0.27%) and (up 0.18%) edged higher. Unitech (down 1.85%) and (down 1.3%) edged lower.

IT stocks advanced. (up 0.74%), (up 1.58%) and (up 0.55%) gained.

was up 0.43%. The company issued a clarification with regard to in relation to the alleged fraud concerning the Income Tax department and the First Information report (FIR) by the (CBI) in relation to these allegations. said it is not named as an accused party in the said FIR. So far it has not been contacted by the in connection with this matter. will co-operate with law enforcement agencies as and when it is approached, it added. The announcement was made after market hours yesterday, 8 March 2018.

rose 1.05% after announcing that its flagship product BaNCS has gone live in Gansu Bank, This go-live expands BaNCS' footprint in with three other large credit unions that are already fully operational in addition to 20 other financial large banks and financial institutions in the country. The announcement was made after market hours yesterday, 8 March 2018.

Rolta rose 3.52% after the company announced that it won digital transformation projects totalling Rs 365 crore in The announcement was made during trading hours today, 9 March 2018.

In political news, the Telugu Desam Party (TDP), ally of National Democratic Alliance (NDA), has pulled out its two ministers from the cabinet yesterday, 8 March 2018, in protest against the injustice to However, the party decided to continue supporting the NDA. The action by the TDP, which has sixteen members in the Lok Sabha and six in Rajya Sabha, will have no impact on the stability of the which has sufficient numbers in Parliament but will be seen as a big political setback as TDP is the first pre-poll ally to pull out of the Centre in nearly four years.

Overseas, Asian stocks edged higher after moderate gains on Wall Street overnight following the implementation of US tariffs on and aluminum. Japan's central kept monetary settings unchanged today, 9 March 2018 and stuck to its upbeat view on the economy. In a widely expected move, the Of Japan (BOJ) maintained its pledge of guiding short-term interest rates at minus 0.1% and the 10-year government bond yields around zero percent.

US stocks closed higher yesterday, 8 March 2018 after implemented and aluminum import tariffs that excluded and Mexico, two key US trade partners.

Trump signed a proclamation yesterday, 8 March 2018 authorizing the tariffs at 25% on imports and 10% on aluminium, the same level he promised when he revealed the plan on 1 March. The aluminium and import tariffs will take effect in 15 days, as per reports.

In Europe, the European Central (ECB), at its monetary policy meeting yesterday, 8 March 2018, kept its broader policy unchanged. The central said it could still extend its 2.55 trillion euro ($3.16 trillion) bond purchase scheme beyond September if needed.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 09 2018. 11:15 IST