Key benchmark indices traded with modest gains in mid-afternoon trade tracking firmness in European stocks. At 14:18 IST, the barometer index, the S&P BSE Sensex rose 151.46 points or 0.46% at 33,217.87. The Nifty 50 index advanced 59.85 points or 0.59% at 10,190.50. Market sentiment remained positive on strong global cues 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 and hovered with small gains in mid-morning trade. Indices hit intraday lows in early afternoon trade before recovering some intraday gains and trading range bound in mid-afternoon trade.
Among secondary indices, the S&P BSE Mid-Cap index advanced 1.18%. The S&P BSE Small-Cap index gained 1.47%. Both these indices outperformed the Sensex.
Overseas, European and Asian stocks advanced 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.
Closer home, the broader market depicted strength. On the BSE, 1,841 shares advanced and 704 shares declined. A total of 137 shares were unchanged.
Auto stocks were mixed. Eicher Motors (up 2.24%), Maruti Suzuki India (up 0.8%), Ashok Leyland (up 0.35%) and Tata Motors (up 0.29%) gained. Bajaj Auto (down 0.96%), Hero MotoCorp (down 0.53%), TVS Motor Company (down 0.43%) and Mahindra & Mahindra (down 0.31%) edged lower.
Aviation stocks surged. Jet Airways (India) (up 4.75%), InterGlobe Aviation (up 2.57%) and SpiceJet (up 1.16%) advanced.
Kalpataru Power Transmission gained 1.53% to Rs 470.45 after the company announced that it has secured new orders/notification of award of Rs 901 crore. The announcement was made during market hours today, 27 March 2018.
On the political front, voting for the Assembly elections in Karnataka will be held on 12 May 2018, and the results will be out on 15 May 2018.
Meanwhile, the no-confidence motions moved by various opposition parties against the ruling National Democratic Alliance (NDA) have not been taken up even today as both the houses of Parliament were adjourned for the day. Ever since the second half of the Budget session commenced from March 5, the Parliament has been adjourned over vociferous protests from the opposition parties over a range of issues like PNB scam, Cauvery water board and Andhra Pradesh special category status.
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