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Market holds near day's high; IT shares advance

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Key equity indices held firm near day's high in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was up 199.48 points or 0.53% at 37,518.01. The index was up 44.85 points or 0.40% at 11,266.90.

Indices opened higher and hit fresh intraday high in morning trade. Gains were supported by recovery in other global stock markets.

Among secondary barometers, the BSE Mid-Cap index was down 0.06%. The BSE Small-Cap index was up 0.35%.

The market breadth, indicating the overall of the market, was positive. On BSE, 1174 shares rose and 903 shares fell. A total of 167 shares were unchanged.

IT pivotals advanced. (up 1.32%), (up 1.11%), (up 0.92%), (up 0.83%), (up 0.57%) and (up 0.19%), edged higher. (down 0.24%), (down 0.25%), (down 0.28%) and (down 0.38%), edged lower.

Pharmaceutical shares were mixed. (up 1.94%), (up 1.51%), (up 0.90%), (up 0.74%), (up 0.28%), (up 0.19%) and (up 0.18%), edged higher. (down 0.09%), (down 0.1%), (down 0.23%), Lupin (down 0.3%), (down 0.32%), (down 0.4%) and (down 1.04%), edged lower.

Meanwhile, the southwest monsoon is likely to make its onset over the around 4 June 2019, private weather forecasting agency said on Tuesday. The 4 June prediction comes with an error margin of two days.

Overseas, Asian shares were mostly higher Wednesday, following a recent slump amid escalating tensions on the US-trade front.

Growth in China's industrial output for April increased 5.4% year-on-year from a 4-1/2 year high in March.

US stocks advanced on Tuesday, paring heavy losses sparked by a raging US-trade war over the past week. US on Tuesday called the escalating dispute with "a little squabble" but said was still considering extending tariffs to another $300 billion worth of Chinese merchandise.

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

First Published: Wed, May 15 2019. 11:24 IST