Positive market breadth

Key benchmark indices were trading with small gains in early trade. At 9:18 IST, the barometer index, the S&P BSE Sensex, was up 87.86 points or 0.25% at 35,635.19. The Nifty 50 index was up 24.45 points or 0.23% at 10,796.50.

Among secondary barometers,the BSE Mid-Cap index was up 0.26%. The BSE Small-Cap index was up 0.17%.

The market breadth, indicating the overall health of the market, was positive. On BSE, 571 shares rose and 309 shares fell. A total of 40 shares were unchanged.

Overseas, Asian stocks were mixed driven by uncertainty surrounding trade relations between the world's two largest economies. US stock closed mostly higher Wednesday, though the Dow Jones Industrial Average posted its seventh consecutive daily decline.

The US current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5% of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4% in the fourth quarter.

Existing-home sales ran at a seasonally-adjusted annual 5.43 million rate in May, down 0.4% from April, the National Association of Realtors said Wednesday.

Back home, GAIL (India) was down 0.77%. GAIL Gas, a wholly owned subsidiary of GAIL (India) and Uber, the world's largest ridesharing company, have entered into a strategic partnership to promote the usage of CNG (Compressed Natural Gas) across various cities in India. In the first leg, the initiative is being rolled out in Bengaluru and will subsequently be extended in other cities. The announcement was made after market hours yesterday, 20 June 2018.

Adani Transmission was up 1.41%. The company has acquired 100% equity share capital of Ghatampur Transmission (GTL) from REC Transmission Projects Company (RECTPCL) on 19 June 2018. The announcement was made after market hours yesterday, 20 June 2018.

Majesco was up 2.33%. The company announced that NTUC Income (Income), a leading insurance company and the only insurance co-operative in Singapore, has selected the Majesco Distribution Management and Majesco Digital Solutions to optimize management of its sales and distribution channels across the insurance business. The announcement was made after market hours yesterday, 20 June 2018.

Gayatri Projects was down 1.03%. The company said that the UP Government has cancelled the earlier bid on the Purvanchal Expressway Project and has re-invited the bids. The Purvanchal Expressway is a 341 km long project and comprises of 8 packages. Gayatri Projects was declared as L1 (Lowest) bidder for Package VI of the project on an EPC basis for a quoted price of Rs 1111.03 Crore, which now stands cancelled. The announcement was made after market hours yesterday, 20 June 2018.

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