Indices gain on upbeat Asian stocks

Trading for the week and the month began on a positive note as the key indices edged higher on upbeat Asian stocks. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 214.14 points or 0.54% at 39,608.78. The Nifty 50 index was up 61.20 points or 0.52% at 11,850.05.

The S&P BSE Mid-Cap index was up 0.45%. The S&P BSE Small-Cap index was up 0.51%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 840 shares rose and 331 shares fell. A total of 54 shares were unchanged.

Overseas, Asian stocks were trading higher on Monday after U.S. President Donald Trump and Chinese President Xi Jinping agreed to hold off on slapping additional tariffs in an effort to resume trade talks.

The moves came after Trump and Xi emerged from a meeting on the sidelines of the Group of 20 summit in Osaka, Japan. Both sides confirmed in separate comments that they did not plan to levy any new tariffs against each other's products at the present time.

Data released Monday from a private survey showed that Chinese factory activity in June was at its lowest since January. The Caixin/Markit factory Purchasing Managers' Index (PMI) for June was 49.4. The PMI reading for May was 50.2. Separately, the Purchasing Managers' Index (PMI) stood at 49.4 in June, China's National Bureau of Statistics said on Sunday, unchanged from the previous month.

US stocks closed higher on Friday, 28 June 2019 led by banks after the Federal Reserve's second round of stress test results. In U.S. economic data, the Commerce Department reported U.S. consumer spending rose 0.4% in May, while personal incomes rose 0.5% during the same period.

Back home, Kalpataru Power Transmission gained 1.51%. Kalpataru Power Transmission has secured new orders / notification of award of about Rs 975 crore. The announcement was made after market hours on Friday, 28 June 2019.

Avenue Supermarts rose 0.03%. Avenue Supermarts has issued commercial paper of Rs 100 crore on 28 June 2019. The announcement was made after market hours on Friday, 28 June 2019.

SJVN rose 1.2% after the company signed a Memorandum of Understanding (MoU) with NEEPCO (North Eastern Electric Power Corporation) for joint development of power projects in India and abroad with an immediate focus on north-east and the eastern region of the country. The announcement was made after market hours on Friday, 28 June 2019.

Syndicate Bank rose 0.96% after the bank's board of directors approved to raise capital for an aggregate amount not exceeding Rs 500 crore during FY 2019-20 by way of qualified institutional placement (QIP) / follow on public issue / preferential allotment or any other mode. The announcement was made after market hours on Friday, 28 June 2019.

NMDC rose 0.53%. NMDC said that prices of iron ore with effect from 29 June 2019 has been fixed as Lump Ore (65.5%, 6-40mm) at Rs 3100 per tone and Fines (64%, - 10mm) at Rs 2860 per tone. The announcement was made after market hours on Friday, 28 June 2019.

Inox Leisure rose 0.55%. Inox Leisure has commenced the commercial operations of a multiplex cinema theatre taken on lease basis, located at Madeenaguda, Hyderabad, with effect from 29 June 2019. The announcement was made on Saturday, 29 June 2019.

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