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Nifty moves above 11,900

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Local stocks were trading higher in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 87.30 points or 0.22% at 40,371.49. The Nifty 50 index was up 22.15 points or 0.19% at 11,906.65.

The S&P BSE Mid-Cap index was up 0.07%. The S&P BSE Small-Cap index was up 0.36%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 671 shares rose and 440 shares fell. A total of 58 shares were unchanged.

Among, Vodafone Idea jumped 16.63%. Vodafone Idea reiterated its commitment to play its due role in realising the vision of Digital India by continuing to provide seamless mobile services to customers across India. To ensure that its customers continue to enjoy world class digital experiences, Vodafone Idea will suitably increase the prices of its tariffs effective 1 December 2019.

Tata Steel fell 0.37%. Tata Steel outlined proposals for a transformation programme in Europe. The programme is needed to ensure the business can thrive despite severe market headwinds which have led to a sharp decline in profitability. At the same time, it aims to secure the foundation for investments required to accelerate innovation and the company's journey towards carbon-neutral steelmaking.

TCS shed 0.76%. TCS announced the setting up of a new Microsoft Business Unit (MBU). Offering a full complement of services and solutions around Microsoft technologies, and catering to all stakeholders in the enterprise, the new unit will work with customers worldwide to accelerate their Business 4.0 transformation journeys.

Accelya Solutions India surged 8.2% after the company announced that it is being acquired by Vista Equity Partners (Vista), a leading investment firm focused on enterprise software, data and technology-enabled businesses.

Prestige Estates Projects advanced 2.76%. Prestige Falcon Realty Ventures (PFRVPL), a wholly owned subsidiary of Prestige Estates Projects, has acquired 1,32,854 equity shares representing 28.99% (without considering other convertible instruments in the entity) of the equity share capital of DB (BKC) Realtors from Trinity Capital (Ten) as per the terms and conditions agreed.

Overseas, Asian stocks were trading mixed on Tuesday as investors awaited clearer news on the progress of trade negotiations between the two major economies.

US stocks eked out fresh all-time highs on Monday, notching slight gains as progress toward a so-called phase-one U.S.-China trade agreement remained elusive.

The Trump administration on Monday issued a 90-day extension of a license allowing U.S. companies to continue doing business with Chinese telecom giant Huawei Technologies Co.

Chinese Vice Premier Liu He, the country's top trade negotiator, reportedly held a phone conversation with U.S. Trade Rep. Robert Lighthizer and Treasury Secretary Steven Mnuchin on Saturday, describing the discussions as constructive.

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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, November 19 2019. 09:32 IST
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