Key benchmark indices hovered near the flat line in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex rose 20.01 points or 0.06% at 34,320.48. The Nifty 50 index gained 5.55 points or 0.05% at 10,545.30.
Indices opened higher on firm Asian stocks. The market soon pared gains and swung between the gains and losses near the flat line in morning trade. Indices traded with small gains in mid-morning trade but soon trimmed gains and hovered near the flat line so far.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.74%. The S&P BSE Small-Cap index gained 0.79%. Both these indices outperformed the Sensex.
Overseas, most Asian stocks gained after slightly firmer lead from Wall Street, which recorded a third consecutive day of gains in the last session. Meanwhile, fourth-quarter Japan gross domestic product data released showed the economy grew at an annualized 0.5%, below a median forecast.
It will be a shortened week for greater China markets, with mainland China markets closing from 15 to 21 February 2018 and Hong Kong markets shut from 16 to 19 February 2018 for the Lunar New Year. Other regional markets, including South Korea, Taiwan and Singapore, will also finish the week early due to the holiday.
Back home, the breadth, indicating the overall health of the market, was positive. On the BSE, 1,549 shares rose and 1,144 shares dropped. A total of 123 shares were unchanged.
Coming to sectoral indices, metal and mining stocks advanced. Hindustan Zinc (up 1.98%), Vedanta (up 1.96%), Hindalco Industries (up 0.51%), Jindal Steel & Power (up 0.47%), Tata Steel (up 0.37%) and Hindustan Copper (up 0.25%) edged higher. NMDC (down 1.35%), Steel Authority of India (down 0.42%) and Nalco (down 0.07%) edged lower.
JSW Steel rose 0.71% after the company announced that it has obtained all the required clearances and obtained final commencement letter from the Government of Karnataka, Department of Mines & Geology on 10 February 2018 for starting of operations in respect of one of the 5 mines of which the auctions were conducted by the Karnataka state government in October 2016. Based on the latest commencement letter, mining operations were started on 11 February 2018 in Tunga mines which is of capacity 0.3 million tons per annum (MTPA). The announcement was made after market hours on Monday, 12 February 2018.
Aviation stocks also gained. InterGlobe Aviation (up 2.39%) and SpiceJet (up 1.82%) advanced. Jet Airways (India) (down 0.27%) edged lower.
GlaxoSmithkline Consumer Healthcare jumped 7.42% after net profit rose 19.98% to Rs 163.66 crore on 20.26% rise in net sales to Rs 1034.67 crore in Q3 December 2017 over Q3 December 2016. The results were announced after market hours on Monday, 12 February 2018. The domestic stock market was shut yesterday, 13 February 2018, on account of Mahashivratri.
On the macro front back home, India's industrial production continued to record strong growth for second straight month at 7.1% in December 2017 over December 2016, while the growth figure for November 2017 has revised upwards to 8.8% from 8.4% reported earlier. The manufacturing sector's production surged 8.4% in December 2017, supporting overall growth in industrial production. The mining output growth also improved 1.2% in December 2017, while the electricity generation moved up 4.4% in December 2017, contributing to the improvement in overall industrial production growth in December 2017.
The all-India general inflation based on consumer price index (CPI) eased to 5.07% in January 2018 compared with 5.21% in December 2017. The corresponding provisional inflation rate for rural area was 5.21% and urban area 4.93% in January 2018 as against 5.27% and 5.09% in December 2017. The core CPI inflation was flat at 5% in January 2018 compared with 4.98% in December 2017. The cumulative CPI inflation was lower at 3.43% in April-January FY2018 compared with 4.68% in April-January FY2017. Inflation and IIP data were announced after market hours on Monday, 12 February 2018.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
