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Metal and mining stocks gain

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Firmness prevailed on the bourses in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 436.56 points or 1.18% at 37,490.66. The index was up 125.90 points or 1.13% at 11,293.95. Metal and stocks gained.

Local stocks nudged higher in early trade on positive Asian stocks. Key benchmark indices extended gains in morning trade. Strong buying demand in index pivotals propelled the key indices to fresh intraday high in mid-morning trade. Indices traded near day's high in afternoon trade.

The S&P BSE Mid-Cap index was up 0.9%. The S&P BSE Small-Cap index was up 1.21%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1663 shares rose and 954 shares fell. A total of 150 shares were unchanged.

Metal and stocks gained. (up 1.7%), (up 1.57%), (up 1.7%), (Sail) (up 0.73%), (up 1.44%), (up 1.11%), (up 1.54%), NMDC (up 0.77%) and (up 0.6%) edged higher. (down 0.09%) fell.

rose 5.25%. The contract is for charter hiring of one 1000-HP mobile drilling rig for Ahmedabad asset for a period of 3 years. The total estimated value of the said award is approximate Rs 91.75 crore. The announcement was made during trading hours today, 12 March 2019.

On the macro front, industrial production data for January 2019 will be unveiled today, 12 March 2019. India's industrial production growth accelerated to 2.4% year-on-year in December 2018 from 0.3% in the previous month.

The rate for February 2019, will also be announced today, 12 March 2019. Annual consumer declined to 2.05% in January 2019 from a downwardly revised 2.11% in December.

Overseas, European shares were trading higher following a strong session in Asian markets, as Monday's rebound continued. will vote later Tuesday on a new Brexit deal after and the agreed late Monday to some last minute changes to the divorce agreement.

Asian stocks were trading higher on the back of a strong performance in U.S. markets overnight. U.S. stocks snapped a five-day losing streak to close higher Monday as rallied, offsetting some of the gloom from Boeing Co.'s woes after the second deadly crash in about six months involving the company's 737 aircraft.

In US data, U.S. unexpectedly rose in January. rose 0.2%. Data for December was revised down to show dropping 1.6% instead of tumbling 1.2% as previously reported.

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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 12 2019. 14:32 IST