Fresh buying in index pivotals pushed the key benchmark indices to day's high in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 154.98 points or 0.4% at 38,761.99. The Nifty 50 index was up 45.35 points or 0.39% at 11,642.05. FMCG stocks gained.
The S&P BSE Mid-Cap index was up 0.25%. The S&P BSE Small-Cap index was up 0.35%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1330 shares rose and 1085 shares fell. A total of 167 shares were unchanged.
FMCG stocks gained. Britannia Industries (up 1.28%), GlaxoSmithkline Consumer Healthcare (up 0.91%), Dabur India (up 1.1%), Godrej Consumer Products (up 0.86%), Hindustan Unilever (up 0.5%), Marico (up 1.05%), Nestle India (up 1.62%), Procter & Gamble Hygiene and Health Care (up 0.22%), Jyothy Laboratories (up 4.38%) and Bajaj Consumer Care (up 1.94%) rose. Colgate-Palmolive (India) (down 1.44%) and Tata Global Beverages (down 0.3%) fell.
Deep Industries rose 2.22%. Deep Industries said it has received letter of award (LoA) from ONGC for charter hiring of 01 No. of 50 MT work over rig for Ahmedabad asset for category-2 for a period of three years. The total estimated value of the said award is approximate Rs 18 crore. The announcement was made during trading hours today, 12 April 2019.
On the macro front, industrial production data for February 2019 will be unveiled after market hours today, 12 April 2019. The inflation rate for March 2019 will also be announced today.
Overseas, most European shares declined as investors continue to remain concerned over global growth.
Meanwhile, European Union leaders agreed to postpone Brexit until Oct. 31 to allow British Prime Minister Theresa May more time to try to get the U.K.'s Parliament to approve the country's divorce deal.
Asian stocks were trading mixed as caution prevailed ahead of the release of first-quarter corporate earnings.
US stocks were little changed on Thursday as growing anxiety over a global economic slowdown offset upbeat data and investors waited for earnings season to kick into high gear.
In US economic data, new applications for jobless benefits fell to 196,000 in the week ended April 6, the lowest number in 50 years, the Labor Department said.
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