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Market trims gains in volatile trade

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Volatility ruled the roost in afternoon trade as the key benchmark indices regained some lost ground soon after retreating from higher levels. At 13:25 IST, the barometer index, the BSE Sensex, was up 53.94 points or 0.16% at 34,161.72. The index was up 6.05 points or 0.06% at 10,464.70. Most auto stocks rose. Most IT stocks rose ahead of Q4 results of

The breadth, indicating the overall health of the market, turned negative from positive. On BSE, 1,268 shares declined and 1,253 shares rose. A total of 147 shares were unchanged.

Most IT stocks rose ahead of Q4 results of TCS (up 2.38%), (up 1.9%), (up 0.42%), (up 1.29%) and (up 1.63%) rose. (down 0.79%) and (down 1.82%) fell.

IT rose 0.71% ahead of its Q4 results today, 13 April 2018.

(HCL) was down 1.85%. HCL and (SEP), a technology and growth-focused private equity firm, have signed a definitive agreement to acquire Corporation. The all-cash deal is valued at $330 million. HCL will own 80% while SEP will own approximately 20% stake of entity which inturn will own 100% shareholding of Corporation. The announcement was made after market hours yesterday, 12 April 2018.

Palo Alto-based Actian-a leader in hybrid data management, cloud integration, and analytics solutions-powers insight-driven enterprises around the globe to help them solve the toughest data challenges.

Most auto stocks rose. Escorts (up 3.01%), Auto (up 0.83%), (M&M) (up 0.14%), (up 1.7%) and (up 2.09%) rose.

(down 0.63%), (down 0.57%) and Maruti Suzuki (down 0.59%) fell.

On macro front, the all-general consumer price index (CPI) inflation eased marginally to five-month low of 4.28% in March 2018, compared with 4.44% in February 2018.

India's industrial production continued to record a healthy growth for the fourth straight month at 7.1% in February 2018 over February 2017. The manufacturing sector's production surged 8.7% in February 2018, contributing to the overall growth in industrial production. However, the growth of moderated to 4.5%, while the output declined 0.3% in February 2018.

Overseas, European stock markets were trading higher in early trade while most Asian stocks rose after toned down his rhetoric on the timing of a missile attack on

China's Shanghai Composite was down 0.65%. China's trade balance swung to a deficit of $4.98 billion in March from a $33.7 billion surplus in the previous month. Exports declined 2.7% in March from a year earlier, following a 44.5% surge in February. Imports in March expanded 14.4% from a year earlier, compared with a 6.8% increase in February.

US stocks closed sharply higher on Thursday, as geopolitical concerns appeared to fade after tweeted that a military strike on may not be imminent. Escalating tensions over the Middle Eastern country were seen as a contributor to weakness in Wednesday's session.

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

First Published: Fri, April 13 2018. 13:37 IST