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Market trades with modest gains

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Key benchmark indices hovered in a narrow range with modest gains in afternoon trade. At 13:15 IST, the barometer index, the Sensex, was up 109.99 points or 0.32% at 34,027.93. The was up 45.15 points or 0.43% at 10,466.55. The Sensex was trading above the 34,000 level. Domestic macroeconomic data released after market hours yesterday, 12 March 2018, signaling an economic turnaround boosted the sentiment.

Volatility struck bourses in early trade as the key benchmark indices turned positive soon after an initial decline triggered by subdued Asian stocks. Stocks extended gains and hit fresh intraday highs in morning trade. Key benchmark indices trimmed some gains in mid-morning trade and hovered with modest gains so far.

The Mid-Cap rose 1.24%. The Small-Cap advanced 1.39%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,738 shares advanced and 772 shares declined. A total of 124 shares were unchanged.

FMCG stocks gained. (up 1.04%), (up 0.55%), (up 0.49%), (up 0.4%), (up 0.04%), Godrej Consumer Products (up 0.13%) and (up 0.03%) edged higher. Emami (down 0.73%) and Hygiene and Health Care (down 0.16%) edged lower.

Capital goods stocks also advanced. (up 2.47%), (up 2.13%), (up 0.96%), (up 0.63%), BEML (up 0.38%), (up 0.35%) and (up 0.13%) edged higher. (down 0.52%) and (down 0.49%) edged lower.

Telecom rose 0.37% at Rs 422.30 after the company completed allotment of 8.54 crore equity shares to Singtel International Investments, an affiliate of Singtel. With the aforesaid allotment, Singtel's total stake (along with its affiliates) in has increased to 48.9%, whereas continues to hold over 50% stake in The announcement was made during market hours today, 13 March 2018.

surged 5.44% at Rs 347.95 after the company unveiled its first in-house manufactured Gearless C.I. Flexo The first ever made in India Gearless Central Impression Flexo is now ready at Uflex's engineering plant at Noida, the company said in a statement. The announcement was made during market hours today, 13 March 2018.

Domestic macroeconomic data released after market hours yesterday, 12 March 2018, signaled an economic turnaround. The lower-than-expected CPI and higher-than-expected IIP data will allay fears of an interest rate hike by the in its next policy meeting scheduled in the first week of April.

India's industrial production (IIP) continued to record a strong growth for the third straight month at 7.5% in January 2018 from 7.1% growth in December 2017. The manufacturing sector's production surged 8.7% in January 2018, supporting overall growth in industrial production.

The all-India general (CPI) dipped to four-month low of 4.44% in February 2018, compared with 5.07% in January 2018 and at 3.65% in February 2017. However, the core CPI rose marginally to 5.04% in February 2018 compared with 5% in January 2018.

Overseas, most Asian stocks edged lower ahead of US reading on inflation due today, 13 March 2018, which is likely to give some idea about whether the Federal Reserve will accelerate its pace of rate increases.

In US, the and the index finished lower Monday, 12 March 2018 weighed down by the industrials sector, while the Index closed at a record, in part due to optimism over Friday's jobs data, which showed solid economic growth without triggering wage pressure.

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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, March 13 2018. 13:16 IST