Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 117.47 points or 0.32% at 36,560.01. The Nifty 50 index was up 37.55 points or 0.34% at 11,025. The Nifty crossed the psychologically important 11,000 mark.
Among secondary barometers,the BSE Mid-Cap index was up 0.98%. The BSE Small-Cap index was up 1.06%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1063 shares rose and 193 shares fell. A total of 45 shares were unchanged.
Overseas, shares in Asia were mixed, following an overnight slip on Wall Street as investors watched developments on the US-China trade front.
US stocks finished lower Monday, as investors turned cautious after initially cheering reports that the US and China were close to completing a landmark trade deal. Profit booking on the back of a two-month rally from December lows also weighed on sentiment.
On the US data front, the Institute for Supply Management's survey of senior executives at banks, retailers, restaurants and the like rose to 59.7% last month from 56.7% in January.
Back home, Quick Heal Technologies was up 6.09%. The board of directors of Quick Heal Technologies approved buy-back of up to 63.63 lakh equity shares aggregating up to 9.02% of fully paid-up equity share capital of the company, at Rs 275 per share on a proportionate basis. The announcement was made after market hours yesterday, 5 March 2019.
Bharti Airtel was up 1.48%. The company has teamed up with Zoom Video Communications, Inc., a modern enterprise video-first unified communications service, to launch India's first high quality Unified Communications service offering, an integrated and secure platform for High Definition (HD) audio, video and web conferencing. The announcement was made after market hours yesterday, 5 March 2019.
Grasim Industries was up 1.16%. The company signed a definitive agreement, to acquire 100% equity shareholding of Soktas India (SIPL), from its current promoters, for an enterprise value of Rs 165 crore, subject to net debt and working capital adjustments, as of the closing date. The transaction will be funded by the company primarily out of internal accruals. SIPL will become a wholly owned subsidiary of Grasim upon completion of the transaction. The announcement was made after market hours yesterday, 5 March 2019.
Newgen Software was up 3.97%. The company announced the issuance of Patent Number 308375, entitled "A Method and System for Automatic Data Extraction" and Patent Number 305015, entitled "Automated Identification of Nature of a User in a Network Based System". The announcement was made after market hours yesterday, 5 March 2019.
The Investment Trust of India informed that ITI Alternate Funds Management, a wholly owned subsidiary of the company has received a registration certificate dated 27 February 2019 from SEBI to act as Portfolio Manager as governed under SEBI (Portfolio Managers) Regulations, 1993. The announcement was made after market hours yesterday, 5 March 2019.
On the economic front, the unemployment rate in February 2019 was 7.2%. This was higher than the 7.1% unemployment rate in January 2019 and much higher than the 5.9% unemployment rate in February 2018 or the 5% in February 2017, according to data compiled by the Centre for Monitoring Indian Economy (CMIE) that was released on Tuesday.
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