Domestic stocks trimmed gains soon after seeing a gap-up opening which pushed the Sensex and the Nifty to record high. At 9:35 IST, the barometer index, the S&P BSE Sensex, was down 16.56 points or 0.04% at 38,262.19. The Nifty 50 index was up 3.80 points or 0.03% at 11,555.55.
The S&P BSE Mid-Cap index was up 0.18%. The S&P 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 the BSE, 882 shares rose and 727 shares fell. A total of 81 shares were unchanged.
Overseas, Asian stocks were trading higher. US stocks rose in thin volume yesterday, 20 August 2018 as investors held onto hopes for an easing of the trade war.
Back home, HCL Technologies rose 1.71% after the company fixed Friday, 31 August 2018 as the record date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback. The announcement was made after market hours yesterday, 20 August 2018.
Apollo Tyres fell 0.65% after the company said that the production operations of the its plants located at Perambra and Kalamassery, Kerala have been disrupted due to floods in Kerala. The production loss due to this natural calamity is 1500 MT (approximately) till 20 August 2018. However, consequential loss of profit is not significant. The natural calamity is adequately covered under the Insurance Policy of the company. The announcement was made after market hours yesterday, 20 August 2018.
ICICI Lombard General Insurance Company declined 0.84%. The company has launched India's first Artificial intelligence (AI) based technology to facilitate instant health insurance claims approval. As a result, the traditional cashless claim request which takes an average of 60 minutes of processing has been drastically brought down to a minute using AI. The announcement was made after market hours yesterday, 20 August 2018.
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