Market jumps in early trade

Key benchmark indices were trading higher in early trade, tracking positive cues from other Asian shares. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 163.94 points or 0.46% at 35,677.08. The Nifty 50 index was up 37.25 points or 0.35% at 10,722.85. Nifty was trading above 10700 mark.

Among secondary barometers,the BSE Mid-Cap index was down 0.02%. The BSE Small-Cap index was up 0.15%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 590 shares rose and 415 shares fell. A total of 49 shares were unchanged.

Overseas, Asian shares were trading higher on Wednesday as investors wait for an important meeting between US President Donald Trump and Chinese leader Xi Jinping later this week. The two leaders are expected to talk trade after Washington and Beijing applied additional tariffs on billions of dollars' worth of each other's imports. Those moves prompted concerns about slowing global economic growth.

US stocks bounced back from early losses to close higher Tuesday as gains in so-called defensive sectors helped to offset anxieties that a near-term resolution to trade tensions between the US and China remain elusive.

On the US data front, home prices across the country are rising at the slowest pace in nearly two years, according to the S&P/Case-Chiller 20-city Index.

Back home, Reliance Capital was up 2.19%. The company reported net profit of Rs 197 crore in Q2 September 2018 as compared with net loss of Rs 417 crore in Q2 September 2017. Total income rose 134.35% to Rs 1003 crore in Q2 September 2018 over Q2 September 2017. The announcement was made after market hours yesterday, 27 November 2018.

MERCK was down 0.22%. The company said that the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, by a letter dated 26 November 2018, has approved the proposal dated 2 July 2018 of Merck Specialties for acquisition of the biopharmaceuticals business of the company by Merck Specialties by way of a slump sale. The announcement was made after market hours yesterday, 27 November 2018.

AXISCADES Engineering Technologies (AXISCADES) was up 9.47%. AXISCADES Aerospace & Technologies, a wholly owned subsidiary of AXISCADES Engineering Technologies (AXISCADES), announced winning of two key contracts - one with Global OEM for design to build of Test Equipment and Maintenance of Strategic Systems and the other for building subsystems of Full Motion Full Mission Simulator. Both these contracts have initial value of USD 20 million with potential to multiply. The announcement was made after market hours yesterday, 27 November 2018.

Inox Wind was up 5.71%. The company has signed an exclusive agreement with AMSC, a global solutions provider serving the wind and power grid industry, to launch the 3MW wind turbine which is especially suitable for low wind regimes in India. The announcement was made after market hours yesterday, 27 November 2018.

Orient Electric was up 3.13%. The company has entered into a strategic partnership with De'Longhi Group, Italy. This partnership paves way for the entry of three international premium small appliances brands in India - De'Longhi, Kenwood and Braun. Orient Electric Limited will have exclusive rights to market and sell these brands in India. The announcement was made after market hours yesterday, 27 November 2018.

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