Key benchmark indices were trading with small gains in early trade. At 9:17 IST, the barometer index, the S&P BSE Sensex, was up 18.12 points or 0.05% at 33,898.37. The Nifty 50 index was up 12.45 points or 0.12% at 10,414.70.
The broad market depicted strength. There were almost two gainers against every loser on BSE. 579 shares rose and 292 shares fell. A total of 39 shares were unchanged.
Overseas, most Asian shares rose as investors sentiment improved after China's President Xi Jinping helped ease fears over a US-China trade row. China's factory inflation slowed for a fifth month while the consumer price index retreated from a four-year high. The producer price index rose 3.1% in March from a year earlier, compared with 3.7% in February. The consumer price index climbed 2.1%, the statistics bureau said Wednesday, versus 2.9% in February.
US stocks surged on Tuesday, 10 April 2018, thanks to a less-aggressive stance on trade taken by Chinese President Xi Jinping. Xi's conciliatory comments on tariffs sent prices of risky assets such as global equities and commodities higher.
Chinese President Xi said that Beijing plans to give foreign companies greater access to financial and manufacturing sectors. He also talked about a cut in tariffs on car imports and an improvement in protection of intellectual property, among other measures.
Back home, IT major Infosys was up 0.70%. Calix announced a strategic multi-year partnership with Infosys, that will accelerate communications service provider (CSP) adoption of AXOS, its Software Defined Access (SDA) Platform. Calix and Infosys will jointly invest to co-create new services and value-added offerings on the award winning AXOS platform. The announcement was made after market hours yesterday, 10 April 2018.
By reducing time-to-market for new AXOS capabilities and greatly broadening AXOS offerings, the partnership will enable service providers to accelerate deployments of next generation access networks that will dramatically reduce their operating cost and enable them to deploy new services at a rapid pace.
Lemon Tree Hotels was down 0.67%. The company said that the company's wholly owned subsidiary Carnation Hotels has executed a Hotel Operating Agreement for operating and managing the property of 120 rooms at Vijayawada, Andhra Pradesh under the company's brand Lemon Tree Premier. The hotel is expected to be operational by March 2021. The announcement was made after market hours yesterday, 10 April 2018.
Himachal Futuristic Communications was up 2.41%. The company said that the company has bagged advance ourchase order for Rs 579 crore approx from Bharat Sanchar Nigam (BSNL) for building 2G global system for mobile (GSM) base service set (BSS) network in Assam. The announcement was made after market hours yesterday, 10 April 2018.
Star Cement was up 0.55%. The company said that the company alongwith its subsidiaries have received Rs 80.26 crore towards subsidies claim from the Central Government and this amount shall be utilized towards pre-payment of loans. The announcement was made after market hours yesterday, 10 April 2018.
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