Cement stocks gain

Stocks hovered with small gains in a tidy range in morning trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 25.46 points or 0.07% at 37,717.35. The Nifty 50 index was up 3.85 points or 0.03% at 11,390.95. Cement stocks gained.

Stocks trimmed initial gains amid mild volatility in early trade. The Sensex and the Nifty, both, scaled record high in early trade.

The S&P BSE Mid-Cap index was down 0.02%, underperforming the Sensex. The S&P BSE Small-Cap index was up 0.1%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1171 shares rose and 949 shares fell. A total of 103 shares were unchanged.

 

Overseas, most Asian stocks rose on positive leads from earnings-led gains on Wall Street. The three major US stock indexes closed higher on Monday amid a strong US earnings season, with results from Berkshire Hathaway impressing and Facebook lifting the Nasdaq after a report it was planning new services.

Back home, Asian Paints (up 2.73%), Vedanta (up 1.23%), Tata Steel (up 1.03%), L&T (up 0.68%) and Infosys (up 0.64%) edged higher from the Sensex pack.

Cement stocks gained. Ambuja Cements (up 1.75%), ACC (up 1.76%), UltraTech Cement (up 1.87%) and Shree Cement (up 0.46%) rose.

Grasim Industries was up 1.02%. Grasim has exposure to the cement sector through its holding in UltraTech Cement.

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