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Realty stocks gain

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Key benchmark indices trimmed some gains in mid-morning trade. At 11:28 IST, the barometer index, the Sensex, was up 75.63 points or 0.22% at 33,993.57. The index was up 31.40 points or 0.3% at 10,452.80. The Sensex was trading below the 34,000 level after hitting an intraday high above that level in morning trade. Domestic macroeconomic data released after market hours yesterday, 12 March 2018, signalling an economic turnaround boosted the sentiment.

Realty stocks gained after recent macroeconomic data allayed fears of an interest rate hike by the

Volatility struck bourses in early trade as the key benchmark indices turned positive soon after an initial decline triggered by subdued Asian stocks. Stocks extended gains and hit fresh intraday high in morning trade.

The Mid-Cap index was up 0.87%. The Small-Cap index was up 1.04%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,617 shares rose and 716 shares fell. A total of 117 shares were unchanged.

Overseas, most Asian stocks were trading lower ahead of US reading on due today, 13 March 2018, which is likely to give some idea about whether the Federal Reserve will accelerate its pace of rate increases.

In US, the and the 500 index finished lower Monday, 12 March 2018 weighed down by the industrials sector, while the Index closed at a record, in part due to optimism over Friday's jobs data, which showed solid economic growth without triggering wage pressure.

Back home, TCS (down 4.78%), (down 1.76%) and M&M (down 0.78%) edged lower from the Sensex pack.

lost 1.63%. The company said that third unit of 800 megawatt (MW) of (3 x 800 MW) has been commissioned on 12 March 2018. With this, the total commissioned capacity of Kudgi Super Thermal Power Station, and group has become 2400 MW, 45300 MW and 52191 MW respectively. The announcement was made during market hours today, 13 March 2018.

Meanwhile, in a separate announcement made during market hours today, 13 March 2018, said that the company has launched an issue of $400,000,000 4.50% Notes due 2028 priced on 12 March 2018. The Notes carry a coupon of 4.5% per annum payable semi-annually. The Notes will mature on 19 March 2018 and principal and interest payments will be made in US Dollars.

Realty stocks gained after recent macroeconomic data allayed fears of an interest rate hike by the Purchases of both residential and commercial property are largely driven by

(up 3.52%), Housing Development and Infrastructure (up 2.29%), (up 0.28%), Unitech (up 2.16%), Sobha (up 0.1%), (up 1.41%), (up 0.16%) and Estate (up 0.71%) gained. (down 1.41%) fell.

Domestic macroeconomic data released after market hours yesterday, 12 March 2018, signalled an economic turnaround. The lower-than-expected CPI and higher-than-expected IIP data will allay fears of an interest rate hike by the

India's industrial production (IIP) continued to record a strong growth for the third straight month at 7.5% in January 2018 from 7.1% growth in December 2017. The manufacturing sector's production surged 8.7% in January 2018, supporting overall growth in industrial production. The output growth slowed down to 0.1% in January 2018, while the generation growth accelerated to five-month high of 7.6% in January 2018, contributing to the improvement in overall industrial production growth in January 2018.

The all-general (CPI) dipped to four-month low of 4.44% in February 2018, compared with 5.07% in January 2018 and at 3.65% in February 2017. The corresponding provisional rate for rural area was 4.37% and urban area 4.52% in February 2018 as against 5.21% and 4.93% in January 2018. However, the core CPI rose marginally to 5.04% in February 2018 compared with 5% in January 2018.

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

First Published: Tue, March 13 2018. 11:32 IST