Market trading with small gains

Key indices were trading with small gains in early trade. At 9:22 IST, the barometer index, the S&P BSE Sensex, was up 33.39 points or 0.08% at 39,719.89. The Nifty 50 index was up 7.80 points or 0.07% at 11,873.40.

The S&P BSE Mid-Cap index was up 0.22%. The S&P BSE Small-Cap index was up 0.14%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 531 shares rose and 401 shares fell. A total of 43 shares were unchanged.

Tata Motors fell 0.71%. Tata Motors' Commercial and Passenger Vehicles Business sales in the domestic market witnessed a drop of 14% at 49,073 units compared to 56,773 units sold over last year as subdued demand continued in June 2019. The announcement was made after market hours yesterday, 1 July 2019.

TVS Motor Company declined 0.72%. TVS Motor Company registered sales of 297,102 units in June 2019 as against 313,614 units in June 2018. The announcement was made after market hours yesterday, 1 July 2019.

Hero MotoCorp shed 0.52%. Hero MotoCorp announced sales of 616,526 units of motorcycles and scooters in the month of June 2019. It is the second consecutive month this fiscal when the Company has clocked six-lakh plus monthly sales. The announcement was made after market hours yesterday, 1 July 2019.

HCL Technologies slipped 0.19%. HCL Technologies confirmed the official close at the end of June 2019 the previously announced acquisition of select IBM products for security, marketing, commerce, and digital solutions. As part of the deal's close, HCL takes full ownership of the research and development, sales, marketing, delivery, and support for AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica. The announcement was made after market hours yesterday, 1 July 2019.

On the macro front, the Index of Eight Core Industries registered a growth of 5.1% in May 2019 over May 2018. The cumulative growth of these industries during April-May 2019-20 was 5.7% as compared to the growth of 4.4% during April- May 2018-19. The data was announced by government after market hours yesterday, 1 July 2019.

Overseas, Asian stocks were trading mixed Tuesday, as investors weighed the tariff truce between the U.S. and China and the potential for a trade deal. US President Donald Trump reportedly said Monday that renewed talks have already begun, and added that any deal has to be better for us than for them.

U.S. stocks ended higher on Monday led by gains in technology stocks on optimism for progress in U.S.-China trade talks and signs of a likely reprieve for Chinese telecom company Huawei.

U.S. manufacturing showed surprising strength in June, however, with the IHS-Markit purchasing-manager's index rising to 50.6 in June, from 50.1 in May. Separately the Institute for Supply Management's (ISM) index showed the sector slowing from 52.1% in May to 51.7% in June.

Meanwhile, OPEC agreed on Monday to extend oil supply cuts until March 2020 as the group's members overcame their differences in order to prop up the price of crude amid a weakening global economy and soaring U.S. production.

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