Market trades with small gains

Key benchmark indices were trading higher in early trade amid positive global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 22.60 points or 0.06% at 38,899.72. The Nifty 50 index was up 11.05 points or 0.09% at 11,655.

The resolution of Reserve Bank of India's (RBI) two-day Monetary Policy Committee (MPC) meeting, which kicked off on 2 April 2019, will be announced at 11.45 IST today, 4 April 2019.

Among secondary barometers,the BSE Mid-Cap index was up 0.10%. The BSE Small-Cap index was up 0.13%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 535 shares rose and 378 shares fell. A total of 72 shares were unchanged.

Overseas, shares in Asia were trading higher on Thursday as hopes rise amid ongoing negotiations on the US-China trade front.

High-level trade negotiations between China and the US resumed on Wednesday in Washington. Hopes were high that both countries were closer to a deal, with US President Donald Trump planning to meet with Chinese Vice Premier Liu He on Thursday in Washington. White House economic advisor Larry Kudlow told the media Wednesday that China has acknowledged for the first time that the United States has legitimate gripes about IP theft, forced technology transfer and cyber hacking.

US stock closed higher Wednesday as investors reacted to upbeat comments on US-China trade talks, but weighed a shaky private-sector employment report. Payroll services firm ADP estimated that the US private sector added 129,000 jobs in March, the weakest reading in 18 months.

Among other data, Markit's March services purchasing managers index came in at 55.3. A reading of at least 50 indicates improving conditions, while those below that level denote contraction. Further, the Institute for Supply Management's services sector gauge fell to 56.1% in March, down from 59.7% in February.

Back home, Godrej Properties was up 1.77%. The company announced that it has entered into a joint venture with a renowned developer to develop a 4.25 acres sea-facing property in the prime suburban micro-market of Bandra West, Mumbai. The project will offer approximately 1 lakh square meters (approximately 1.1 million square feet) of saleable area and will be developed as a luxury residential project. The announcement was made after market hours yesterday, 3 April 2019.

Indo Rama Synthetics (India) was up 3.65%. The company have allotted 8.30 crore equity shares at Rs 36 aggregating amount to Rs 298.80 crore on 3 April 2019 to Indorama Netherlands S.V. The announcement was made after market hours yesterday, 3 April 2019.

Shriram Transport Finance Company was up 0.93%. The board of directors of Shriram Transport Finance Company has approved raising of funds through upsizing the existing Medium Term Note Programme established for Rs 5000 crore only to a Global Medium Term Note Programme up to $2,000,000,000 (US Dollars Two Billion only) by way of public/ private issue of debt securities in international markets and External Commercial Borrowings upto $750 million. The announcement was made after market hours yesterday, 3 April 2019.

Suven Life Sciences was up 3.52%. The company announced that the grant of one product patent from Israel, one product patent from Japan, one product patent from New Zealand and one product patent from Sri Lanka corresponding to the New Chemical Entities for the treatment of disorders associated with Neurodegenerative diseases and patents are valid through 2036 and 2029 respectively. The announcement was made after market hours yesterday, 3 April 2019.

Powered by Capital Market - Live News