Key benchmark indices gained sharply in steady session of trade on strong buying demand in index pivotals. The barometer index, the S&P BSE Sensex, gained 481.56 points or 1.3% at 37,535.66. The Nifty 50 index gained 133.15 points or 1.19% at 11,301.20. Positive global stocks also boosted sentiment on the domestic bourses.
The S&P BSE Mid-Cap index rose 1.07%. The S&P BSE Small-Cap index rose 0.71%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1645 shares rose and 1072 shares fell. A total of 145 shares were unchanged.
Index heavyweight Reliance Industries gained 2.22% at Rs 1,329.85. The stock hit a record high of Rs 1,333 in intraday today, 12 March 2019.
L&T rose 3.08%. The Power Transmission & Distribution business of L&T Construction has bagged a number of Engineering, Procurement and Construction orders in India and abroad. The announcement was made during market hours today, 12 March 2019.
KEC International rose 5.94% after the company said it has secured new orders worth Rs 1,323 crore across its various businesses. The announcement was made during trading hours today, 12 March 2019.
On the macro front, industrial production data for January 2019 will be unveiled today, 12 March 2019. India's industrial production growth accelerated to 2.4% year-on-year in December 2018 from 0.3% in the previous month.
Overseas, European shares were trading higher following a strong session in Asian markets, as Monday's rebound continued. British parliament will vote later Tuesday on a new Brexit deal after Prime Minister Theresa May and the European Commission President Jean-Claude Juncker agreed late Monday to some last minute changes to the divorce agreement.
Asian stocks gained on the back of a strong performance in U.S. markets overnight. U.S. stocks snapped a five-day losing streak to close higher Monday as technology shares rallied, offsetting some of the gloom from Boeing Co.'s woes after the second deadly crash in about six months involving the company's 737 Max 8 aircraft.
In US data, U.S. retail sales unexpectedly rose in January. Retail sales rose 0.2%. Data for December was revised down to show retail sales dropping 1.6% instead of tumbling 1.2% as previously reported.
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