Market jumps in opening trade; breadth strong

Key benchmark indices were trading higher in early trade, tracking positive cues from other Asian shares. At 9:19 IST, the barometer index, the S&P BSE Sensex, was up 178.59 points or 0.46% at 39,235.24. The Nifty 50 index was up 31.85 points or 0.27% at 11,745.05.

Among secondary barometers,the BSE Mid-Cap index was up 0.45%. The BSE Small-Cap index was up 0.40%.

The market breadth, indicating the overall health of the market, was strong. On BSE, 647 shares rose and 221 shares fell. A total of 45 shares were unchanged.

Overseas, Asian shares traded higher on Wednesday following a report that said the US and China are closer to reaching a trade agreement.

The US and China are set to resume trade negotiations in Washington on Wednesday, following last week's talks in Beijing. Ahead of the meeting, White House economic adviser Larry Kudlow said the two countries "expect to make more headway" in this week's talks. Both economic powerhouses are closer to reaching a deal, according to media reports.

In US, the S&P 500 and Nasdaq Composite closed with small gains on Tuesday, while the Dow Jones Industrial Average ended in the red.

In economic reports, a report on long-lasting factory goods, or durable goods, in February showed a 1.6% decline, the Commerce Department said.

Back home, Karnataka Bank was up 1.61%. The bank entered into Memorandum of Understanding with Bharti AXA Life Insurance Company for distribution of latter's life insurance products. The announcement was made after market hours yesterday, 2 April 2019.

Indraprastha Gas (IGL) was up 1.82%. The company has received three letters dated March 29, 2019 from Petroleum and Natural Gas Regulatory Board (PNGRB) for grant of authorization to the company for development of CGD network in the geographical areas of (i) Kaithal District (ii) Ajmer, Pali and Rajsamand District & (iii) Kanpur (Except area already authorized) District, Fatehpur and Hamirpur Districts. The announcement was made after market hours yesterday, 2 April 2019.

Infosys was down 0.87%. EdgeVerve Systems, a subsidiary of Infosys, has been selected by Al Ahli Bank of Kuwait to automate the bank's operational processes using the AssistEdge RPA platform. Ahli United Bank is one of the pioneering banks in Kuwait to innovate its banking operations using RPA. The announcement was made after market hours yesterday, 2 April 2019.

HEG was up 1.30%. The audit committee and board of directors in their respective meetings have considered and approved the proposal to increase the stake of HEG in Bhilwara Energy, an Associate Company of HEG, from 29.48% to 49%. The announcement was made after market hours yesterday, 2 April 2019.

Lumax Auto Technologies was up 3.32%. The company has closed it's PCB manufacturing situated at Plot No. 918, Sector-5, IMT Manesar, Gurugram, Haryana with effect from 1 April 2019. The announcement was made after market hours yesterday, 2 April 2019.

Powered by Capital Market - Live News