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Metal stocks gain on positive China trade data

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After trading with modest gains in mid-morning trade, key benchmark indices sharply trimmed intraday gains in early afternoon trade. At 12:22 IST, the barometer index, the Sensex, rose 39.84 points or 0.12% at 34,543.33. The 50 index advanced 7.45 points or 0.07% at 10,658.65.

The and had hit record highs in early trade on the back of positive trading sentiment in Asian stocks fueled by strong lead from Wall Street. Also, expectations of recovery in domestic earnings in Q3 FY 18 aided sentiment. Indices hovered with modest gains till mid-morning trade.

Among the secondary indices, the Mid-Cap index rose 0.28%. The Small-Cap index advanced 0.76%. Both these indices outperformed the

The breadth, indicating the overall health of the market, was positive. On the BSE, 1,516 shares advanced and 1,197 shares declined. A total of 120 shares were unchanged.

Metal and mining stocks advanced after reported trade surplus in December. (up 2%), Vedanta (up 1.62%), (up 1.55%), SAIL (up 1.07%), Nalco (up 0.89%), (up 0.65%), NMDC (up 0.32%), (up 0.19%), (up 0.16%) and & Power (up 0.19%) edged higher. is the world's largest consumer of copper, steel and aluminium.

Realty stocks were mixed. (up 0.73%), (up 0.7%), Unitech (up 0.61%) and HDIL (up 0.08%) edged higher. (down 3.53%), (down 2.12%), (down 1.06%), (down 0.87%) and (down 0.46%) declined.

rose 2.21% at Rs 261.25 after the company through its wholly-owned subsidiary, Yashita Buildcon, has on 11 January 2018, entered into a binding and definitive agreement to acquire a prime and newly constructed commercial building, having leasable area of about 2.5 lakh sq ft in Gurugram. The deal is expected to get completed in 3 to 4 months when the Occupation Certificate of the building is expected to be received, the company said. The announcement was made after market hours yesterday, 11 January 2018.

gained 3.78% after the company said that it has bagged an order valued at Rs 37 crore. The announcement was made during market hours today, 12 January 2018.

On the macro front, the government is scheduled to announce industrial production data for November 2017 today, 12 January 2018. India's industrial production increased by 2.2% year-on-year in October, easing from an upwardly revised 4.1% gain in September.

The government will also announce today, 12 January 2018, inflation data based on consumer price index (CPI) for December 2017. Consumer prices increased 4.88% year-on-year in November, higher than 3.58% in October.

Overseas, Asian stocks edged higher after strong lead from Wall Street. reported trade data for December with exports up 10.9% and imports rising 4.5%, resulting in a trade surplus at $54.69 billion. China reported a 7.9% jump in exports and 15.9% rise in imports both in dollar terms for 2017, the country's said today, 12 January 2018. China's overall trade surplus for 2017 was $422.5 billion.

US stocks surged to close the session at record highs yesterday, 11 January 2018 as investors bet economic growth would pick up steam.

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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, January 12 2018. 12:19 IST