Key indices gain in early trade

Key benchmark indices edged higher in early trade. At 9:18 IST, the barometer index, the S&P BSE Sensex was up 59.05 points or 0.2% at 29,980.23. The Nifty 50 index was up 16.95 points or 0.18% at 9,330.75.

The BSE Mid-Cap index rose 0.49%. The BSE Small-Cap index advanced 0.41%. Both these indices outperformed the Sensex.

Overseas, Asian stocks were trading mixed. US equities closed with small gains yesterday, 2 May 2017 as investors awaited earnings from tech giant Apple.

Closer home, the breadth, indicating the overall health of the market, was strong. On the BSE, 891 shares rose and 330 shares fell. A total of 53 shares were unchanged.

Among stocks, ICICI Bank was up 0.13% ahead of the bank's Q4 March 2017 results today, 3 May 2017.

TCS was down 0.04%. The company said it has been selected by one of Europe's largest utilities companies - Vattenfall- to provide IT services across multiple European operations including Swedan, Germany and the Netherlands. The announcement was made after market hours yesterday, 2 May 2017.

Wipro advanced 0.39% at Rs 496.95 after the company said it has unveiled its new brand identity. The new brand identity signifies a higher level of engagement and brand permission that helps clients leverage Wipro's expertise to address their business requirements and drive future opportunities in this digital era. As part of the new brand identity, Wipro unveiled a new logo. The announcement was made after market hours yesterday, 2 May 2017.

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