Market trims gains

Key benchmark indices trimmed gains in morning trade. At 10:15 IST, the barometer index, the S&P BSE Sensex rose 108.53 points or 0.33% at 33,174.94. The Nifty 50 index advanced 25.10 points or 0.25% at 10,155.75. Market sentiment was positive amid reports of trade negotiations between the United States and China, which eased fears of a trade war and improved investors' risk appetite.

Key indices opened the session on a higher note on positive global stocks. Indices trimmed gains in morning trade.

Among secondary indices, the S&P BSE Mid-Cap index advanced 0.97%. The S&P BSE Small-Cap index gained 1.23%. Both these indices outperformed the Sensex.

Overseas, Asian stocks edged higher after Wall Street rebounded in previous trading session amid a slight easing in trade tensions. US stocks closed sharply higher yesterday, 26 March 2018, bouncing back from strong losses in the previous session as trade tensions between the US and China appeared to ease.

Back home, the broader market depicted strength. On the BSE, 1,646 shares advanced and 397 shares declined. A total of 92 shares were unchanged.

IT stocks nudged mostly higher. TCS (up 0.86%), Tech Mahindra (up 0.65%) and Oracle Financial Services Software (up 0.16%) edged higher. HCL Technologies (down 0.41%) and Infosys (down 0.05%) edged lower.

Wipro rose 1.86% after the company announced an expanded global relationship with Adobe to create, build and run digital marketing solutions and campaigns for their clients, across the globe. As a part of this alliance, Wipro will embed Adobe's design and prototyping software, Adobe XD CC, the all-in-one UX/UI solution for designing and prototyping mobile apps and websites, into its Digital Experience Platform. The announcement was made after trading hours yesterday, 26 March 2018.

Pharma stocks advanced. Divi's Laboratories (up 2.53%), Lupin (up 0.83%), Aurobindo Pharma (up 0.54%), Dr Reddy's Laboratories (up 0.31%) and Sun Pharmaceutical Industries (up 0.18%) edged higher. Cadila Healthcare (down 0.06%) edged lower.

Cipla advanced 0.31% after the company said that the closing conditions in relation to disinvestment of entire 99% equity stake held by company's joint venture company in UAE i.e. Saba Investment Limited in Al Jabal for Drugs and Medical Appliances Company, Yemen (AJDMS) have been fulfilled. Consequently, AJDMS has ceased to be subsidiary of Saba Investment with effect from 26 March 2018.The announcement was made after market hours yesterday, 26 March 2018.

Engineering and construction major L&T rose 0.69% at Rs 1,304.15 after the company's heavy engineering arm has received orders worth Rs 747 crore in Haryana. The announcement was made during market hours today, 27 March 2018.

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