Market trades with small gains

Key benchmark indices were trading with small gains in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 46.35 points or 0.12% at 38,942.98. The Nifty 50 index was up 10.15 points or 0.09% at 11,748.65.

Among secondary barometers,the BSE Mid-Cap index was up 0.40%. The BSE Small-Cap index was up 0.31%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 797 shares rose and 489 shares fell. A total of 68 shares were unchanged.

Overseas, most Asian shares were trading higher. Traders were cautious ahead of a looming deadline on tariffs with China.

In US, the S&P 500 and the Nasdaq on Tuesday finished at records for a third consecutive session after a measure of consumer confidence hit a nearly 18-year high. However, the market's gains were muted, with indexes closing off of intraday peaks. The Conference Board said its index of consumer confidence climbed to 133.4 this month from 127.9 in July.

Back home, JSW Steel was up 3.20%. Lupin was down 1.09%. JSW Steel will be included while Lupin will be removed from the National Stock Exchange's benchmark index Nifty 50 from 28 September 2018.

State Bank of India (SBI) was up 1.07%. The bank said that the appropriate authority has accorded approval to explore and initiate the process of divestment upto 3.8958% of stake of SBI in National Stock Exchange of India (NSE) through secondary sale. The announcement was made after market hours yesterday, 28 August 2018.

Lakshmi Vilas Bank was up 1.26%. The bank has executed a corporate agency agreement with HDFC Ergo General Insurance Company to offer General Insurance products (Non- Life) to customers under open architecture and the same has been approved by IRDA. The Insurance Products offered are like Motor, Health, Travel, Home and Personal Accident Insurance in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space. The announcement was made after market hours yesterday, 28 August 2018.

Artson Engineering was up 15.37%. The company received a Purchase Order (PO) from Thyssenkrupp Industries India of approx Rs 15 crore (Excluding GST). The announcement was made after market hours yesterday, 28 August 2018.

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