Key indices hovered in a small range in positive zone in early afternoon trade. At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 97.90 points or 0.25% at 38,743.08. The Nifty 50 index was up 30.85 points or 0.27% at 11,625.30. Realty stocks saw mixed trend. Cement shares rose.
Local stocks nudged higher in early trade on buying demand in index pivotals. Stocks trimmed gains in morning trade after an initial upmove. Stocks hovered in positive zone in mid-morning trade.
The S&P BSE Mid-Cap index was up 0.35%. The S&P BSE Small-Cap index was up 0.24%.
The market breadth, indicating the overall health of the market, once again turned positive from negative. On the BSE, 1134 shares rose and 1038 shares fell. A total of 163 shares were unchanged.
Realty stocks saw mixed trend. DLF (up 1.27%), Indiabulls Real Estate (up 2.46%), Prestige Estates Projects (up 4.07%) and Oberoi Realty (up 0.37%) rose. Sobha (down 0.18%), Housing Development and Infrastructure (down 1.64%), D B Realty (down 1.22%) and Godrej Properties (down 1.18%) fell.
Cement shares rose. Ambuja Cements (up 0.71%), ACC (up 0.71%), UltraTech Cement (up 0.03%) and Shree Cement (up 0.49%) gained.
Grasim Industries was off 0.03%. Grasim has exposure to the cement sector through its holding in UltraTech Cement.
On the political front, as many as 116 Lok Sabha constituencies are undergoing polls today, 23 April 2019, across 14 states and Union Territories in Phase 3 of the 2019 general election. The 2019 general election, which is scheduled to be held in seven phases, kicked off on 11 April 2019 and will conclude on 19 May 2019. The counting of votes will be conducted on 23 May, and on the same day the results will be declared.
Overseas, Asian shares were trading lower on Tuesday with concerns China may slow the pace of policy easing.
US stocks ended a low-volume trading session little changed on Monday, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings.
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