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Key indices hover near flat line

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The Sensex and the Nifty were hovering near the flat line in early trade. At 9:20 IST, the barometer index, the Sensex, was up 14.96 points or 0.04% at 33,955.40. The index was down 19.05 points or 0.18% at 10,398.10.

Among secondary barometers,the Mid-Cap index was down 0.12%. The Small-Cap index was down 0.06%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On BSE, 597 shares fell and 543 shares rose. A total of 37 shares were unchanged.

Overseas, Asian shares declined after tensions and hawkish statements from the dented investors' sentiment. US stocks declined on Wednesday, as worries about geopolitical developments deflated the buying mood on Wall Street. An early morning tweet by implied the possibility of a military strike in and set the downbeat tone for the session.

Trump's tweet that should "get ready" for a potential strike on came after a over the weekend on a rebel-held town in the eastern Ghouta region of Syria. The newfound focus on geopolitics took the focus off a trade spat between the US and

Investors also digested the release of minutes from the Federal Open Market Committee's (FOMC) March meeting, which reflected that all policymakers expected the US to continue growing and for inflation to rise. Those views strengthened the belief that more interest rate hikes lay ahead.

Back home, was up 0.91%. Group global wholesales, including (JLR), rose 18% to 153,156 units in March 2018 over March 2017. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range rose 33% to 56,399 units in March 2018 over March 2017. Global wholesales of all passenger vehicles rose 11% to 96,757 units in March 2018 over March 2017. The announcement was made after market hours yesterday, 11 April 2018.

was up 1.34%. and have agreed to accelerate introduction of adalimumab biosimilar in through Mylan's in-licensing arrangement with Kirin Biologics (FKB). FKB's product is at an advanced stage of review and could potentially obtain approval in in the second half of 2018. Through this arrangement, could commercialize FKB's Adalimumab in EU around market formation. retains its economic interest in this arrangement vis-a-vis in line with its existing global collaboration with Mylan for monoclonal The announcement was made after market hours yesterday, 11 April 2018.

Corporation (IOC) (down 1.61%), (down 2.65%), (down 3.11%), edged lower. Corporation (IOC) along with and incorporated a joint venture company named & Petrochemicals (RRPCL) with equity holding of 50:25:25 to jointly develop and build an integrated refinery and petrochemicals complex at Ratnagiri in The announcement was made after market hours yesterday, 11 April 2018.

BPCL, IOC, and signed a memorandum of understanding (MOU) with Saudi Aramco, a leading global integrated and company in the Kingdom of Saudi Arabia, to jointly develop and build the said project. The partnership would bring together the crude supply, resources, technologies, experiences, and expertise of these multiple companies with an established commercial presence around the world. may also bring in a strategic partner to co-invest in the project.

Exchange (IEX) was down 0.34%. IEX and Electric Power Exchange (JEPX) have entered into a Memorandum of Understanding (MoU) on 28 March 2018 for jointly exploring the opportunities of cooperation in The intent of the MoU is to share experience and cooperate with each other in respect of technology and in market products development. The scope of MoU includes opportunities for training to augment the through competitive market platforms by organizing knowledge sharing programs. This collaboration would be beneficial for both the exchanges and for the larger good of the power markets in and The announcement was made after market hours yesterday, 11 April 2018.

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

First Published: Thu, April 12 2018. 09:25 IST