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Market trades higher on bargain hunting

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Key benchmark indices were trading higher in early trade. At 9:18 IST, the barometer index, the Sensex, was up 90.25 points or 0.24% at 37,503.38. The index was up 15.25 points or 0.14% at 11,302.75. Gains were triggered by bargain hunting after the market witnessed steep losses in the past few sessions.

Among secondary barometers,the Mid-Cap index was up 0.20%. The Small-Cap index was down 0.01%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 533 shares rose and 436 shares fell. A total of 38 shares were unchanged.

Overseas, Asian stocks fell on Wednesday, as investor confidence was chilled by the latest round of verbal threats in an intensifying US-trade conflict. will seek permission from the (WTO) to impose sanctions on the US next week, according to the WTO's meeting agenda. will seek authorization at a special meeting of the WTO's Dispute Settlement Body on Friday, 21 September 2018.

The request comes at a time of escalating trade tensions between the world's two largest economies, with US saying last week he was "ready to go" on tariffs for another $267 billion on Chinese goods "if he wants." That would follow planned charges on $200 billion of Chinese goods in several industries, including technology. has vowed to retaliate if the US takes any new steps on trade.

US stocks shrugged off a wobbly start to close higher Tuesday, with the Dow climbing by triple digits, as and rallied. However, trade worries were simmering below the surface as investors continued to watch the situation between the US and China.

On the data front, small-sentiment climbed to a record in August, according to the National Federation of Independent Separately, the number of job openings in the US climbed to a record 6.94 million in July while the US budget deficit in August was $211 billion, nearly double the gap during the year-ago period.

Meanwhile, the US budget deficit in August was $211 billion, nearly double the gap during the year-ago month, the estimated late Monday.

Back home, was down 0.53%. The company said it received approval for its combination medicine 'TLD' from the (SAHPRA). The drug will be manufactured at Cipla's facilities in and The announcement was made after market hours yesterday, 11 September 2018.

was down 0.75%. With reference to the media report, "on radar", the drug clarified that the (USFDA) is conducting an inspection of the company's (Punjab, India). The inspection started yesterday, 10 September 2018 and is ongoing. The clarification was issued after market hours yesterday, 11 September 2018.

was up 0.82%. and Duck Creek Technologies, the P&C insurance industry's leading Saas provider, announced a relationship whereby will offer a broad array of and related and data solutions for its customers around the world. Wipro will offer systems integration, configuration, and support services for the Duck Creek Platform, which includes solutions for policy, rating, billing, claims, data insights, and digital engagement. Together, Wipro and Duck Creek will help insurers meet rapidly evolving consumer expectations in their digital transformation journey. The announcement was made after market hours yesterday, 11 September 2018.

Redington (India) was up 0.63%. The company announced that a meeting of the board of directors of the company is fixed on 17 September 2018 in Chennai, to consider a proposal to buyback the fully paid-up equity shares of the company. The announcement was made after market hours yesterday, 11 September 2018.

Godrej Agrovet was up 2.60%. The company announced that the meeting of the board of directors of the company is scheduled on 14 September 2018, to consider and approve scheme of amalgamation of Astec LifeSciences, a subsidiary of the company, with the company and also to discuss on strategies. The announcement was made after market hours yesterday, 11 September 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: Wed, September 12 2018. 09:18 IST
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