Indices log modest gains

Key benchmark indices logged modest gains on steady buying demand in index pivotals. The barometer index, the S&P BSE Sensex, rose 160.10 points or 0.41% at 38,767.11. The Nifty 50 index rose 46.75 points or 0.4% at 11,643.45.

The S&P BSE Mid-Cap index rose 0.29%. The S&P BSE Small-Cap index rose 0.37%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1383 shares rose and 1155 shares fell. A total of 165 shares were unchanged.

ITC (up 3.14%), Maruti Suzuki India (up 2.13%), Axis Bank (up 1.61%), Vedanta (up 1.43%) and Hero MotoCorp (up 1.43%) edged higher from the Sensex pack.

Bharti Airtel (down 1.71%), Bajaj Finance (down 1.37%), L&T (down 1.22%), Tata Motors (down 1.08%) and IndusInd Bank (down 0.72%) edged lower from the Sensex pack.

Infosys rose 0.63% ahead of its Q4 March 2019 result today, 12 April 2019.

TCS fell 0.26% ahead of its Q4 March 2019 result today, 12 April 2019.

On the macro front, industrial production data for February 2019 will be unveiled after market hours today, 12 April 2019. The inflation rate for March 2019 will also be announced today.

Overseas, most European shares declined as investors continue to remain concerned over global growth. Meanwhile, European Union leaders agreed to postpone Brexit until Oct. 31 to allow British Prime Minister Theresa May more time to try to get the U.K.'s Parliament to approve the country's divorce deal.

Asian stocks were trading mixed as caution prevailed ahead of the release of first-quarter corporate earnings.

US stocks were little changed on Thursday as growing anxiety over a global economic slowdown offset upbeat data and investors waited for earnings season to kick into high gear.

In US economic data, new applications for jobless benefits fell to 196,000 in the week ended April 6, the lowest number in 50 years, the Labor Department said.

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