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Market opens on a flat note

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Trading for the day began on a flat note as a divergent trend was witnessed as the barometer index, the Sensex was trading with small gains while the index was trading with small losses. At 9:30 IST, the barometer index, the Sensex, was up 7.89 points or 0.02% at 34,313.32. The index was down 4.75 points or 0.05% at 10,523.60.

The Mid-Cap index was up 0.33%. The S&P BSE Small-Cap index was up 0.32%. Both these indices outperformed the Sensex.

is set to get a normal monsoon this year, with average rainfall likely to be 97%, the Meteorological Department (IMD) announced after market hours yesterday, 16 April 2018. Between 96% and 104% of the long-period average is considered a normal monsoon, and the margin of error is 5%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1102 shares rose and 546 shares fell. A total of 74 shares were unchanged.

Overseas, Asian stocks were trading mixed as investors parsed a mixed set of economic numbers out of and sought fresh leads after weeks of volatility sparked by trade frictions and geopolitical conflict.

China's rose 6.8% from a year earlier in the first quarter, holding steady from the 6.8% growth in the fourth quarter of last year, said today, 17 April 2018.

Meanwhile, industrial production grew just 6% in March, compared with 7.2% in the first two months of the year, and 6.8% overall for the quarter. In other data, January to March fixed asset investment growth slowed to 7.5% from a year ago, down from 7.9% in the first two months of the year.

US stocks closed sharply higher yesterday, 16 April 2018 with major indexes rallying in a broad advance as the first-quarter earnings season pointed to strong growth and geopolitical tensions showed signs of easing.

Back home, (up 1.77%), (up 1.5%) and (up 1.3%) edged higher from the Sensex pack.

(HDFC) rose 0.07%. (HDFC AMC), a joint venture between HDFC and Standard Life Investments, reported a 31% jump in profit after tax at Rs 721.61 crore in the year ended March 2018 over the year ended March 2017. The asset management firm's total revenue rose 17.6% to Rs 1867.24 crore in the year ended March 2018 over the year ended March 2017. Total expenses were up 2.11% at Rs 804.73 crore. The announcement was made after market hours yesterday, 16 April 2018.

HDFC AMC last month filed a draft red herring prospectus with Sebi for a public offer of up to 2.54 crore shares.

Adani Ports and Special Economic Zone (APSEZ) rose 0.83%. APSEZ said it signed a long term agreement with (IOC) to provide (LNG) on a use or pay basis to the state-run refiner, at its upcoming LNG import terminal at Dhamra in Odisha. As per the contract, IOC has booked 3 million tonnes per annum (MTPA) regasification capacity spread over 20 years. IOC plans to supply the gas to its refineries in Paradip in Odisha and Haldia in The announcement was made after market hours yesterday, 16 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: Tue, April 17 2018. 09:40 IST