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Indices trading with small losses; breadth strong

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Domestic stocks are trading with small losses in early trade amid mild volatility. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 45.97 points or 0.09% at 49,700.24. The Nifty 50 index was down 6 points or 0.04% at 14,867.80.

The S&P BSE Mid-Cap index was up 0.26%. The S&P BSE Small-Cap index was up 0.69%.

The market breadth, indicating the overall health of the market, is strong. On the BSE, 1349 shares rose and 723 shares fell. A total of 98 shares were unchanged.

Stocks in news:

Infosys rose 0.32%. Infosys announced a strategic long -term collaboration with ArcelorMittal, the world's leading steel and mining company. ArcelorMittal has chosen Infosys to help accelerate the company's digital transformation journey and enable next-generation application management and business process management (BPM) services for ArcelorMittal Europe.

CEAT rose 1.8%. CEAT has entered into a Third Addendum Agreement to the existing Share Subscription and Shareholders' Agreement with Tyresnmore Online Private Limited (associate of the Company) and other parties, for making a future investment of upto Rs. 2.40 crore in Tyresnmore, on such terms and conditions as prescribed therein to acquire additional 3.47% of the post issue total share capital of Tyresnmore.

Zensar gained 2.86%. Zensar announced that it has entered into a global strategic partnership with US based Claimatic. This partnership combines industry-leading, intelligent decisioning software of Claimatic with Zensar's world-class strategic consulting, enterprise delivery, and implementation services.

Ashok Leyland rose 0.86%. Ashok Leyland said that Switch Mobility Automotive joined hands with Siemens to address the potential of the e-mobility market in India, driven by a strong commitment to support zero emission mobility through lowest total cost of ownership.

Astron Paper & Board Mill rose 1.07%. The company informed that Unit-1 located at Halvad, Gujrat will be remain shut from 11th April, 2021 for 10 to 12 days scheduled preventive maintenance and for technical updation and modification.

On the coronavirus front, Prime Minister Narendra Modi on April 8 said a number of states have crossed the peak of the pandemic's first wave. The need is to combat the health crisis on "war footing", he said in a review meeting held virtually with the chief ministers of states and union territories. The country is witnessing an unprecedented growth in new infections, Modi said, adding that the situation is a "big cause of worry" before the nation. A "vaccine utsav" should be observed from April 11 to April 14 to promote the usage of vaccine among the eligible section of the population, Modi told the chief ministers.

Global Markets:

Asian stocks are trading mostly lower on Friday after the S&P 500 on Wall Street cruised to yet another record closing high overnight.

In US, the S&P 500 rose to another record high on Thursday amid a strong rally in major technology stocks.

Federal Reverse chairman Jerome Powell signaled on Thursday that the economic rebound from the pandemic still has room to go as the recovery thus far hasn't been well-rounded. Powell also repeated that inflation is not expected to be serious even though near-term price pressures are likely.

Data showed an unexpected rise in the number of Americans filing new claims for unemployment benefits. A total of 744,000 Americans filed for unemployment benefits for the first time during the week ended April 3, the Labor Department said Thursday.

Back home, the domestic equity benchmarks ended with minor gains on Thursday, rising for the third straight session. The barometer index, the S&P BSE Sensex, gained 84.45 points or 0.17% to 49,746.21. The Nifty 50 index rallied 54.75 points or 0.37% to 14,873.80.

Foreign portfolio investors (FPIs) bought shares worth Rs 110.85 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 552.78 crore in the Indian equity market on 8 April, provisional data showed.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, April 09 2021. 09:40 IST
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