Strong buying demand in index pivotals pushed the key indices sharply higher in a steady session of trade. The barometer index, the S&P BSE Sensex, gained 382.67 points or 1.04% at 37,054.10. The Nifty 50 index gained 135.65 points or 1.23% at 11,171.05. The Sensex settled above the psychological 37,000 mark after moving above and below that level in intraday trade.
The S&P BSE Mid-Cap index gained 1.96%. The S&P BSE Small-Cap index gained 1.61%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1754 shares rose and 899 shares fell. A total of 190 shares were unchanged.
Index heavyweight Reliance Industries gained 3.43% to Rs 1,310.05.
TCS fell 0.16%. TCS has launched a new version of the Metadata Registrv and Transformation (MRT) Platform that helps life sciences companies streamline their clinical data management by automating clinical study design and set up and conversion of clinical data into standard formats for greater interoperability across the clinical trial phases. The announcement was made during market hours today, 11 March 2019.
Kalpataru Power Transmission rose 3.87%. Kalpataru Power Transmission said it has secured new orders/notification of award of Rs 1,288 crore. The company's transmission & distribution business has secured projects worth Rs 771 crore, primarily in international markets. The firm has won two projects in oil and gas business totalling Rs 517 crore. The announcement was made during trading hours today, 11 March 2019.
Meanwhile, Lok Sabha elections will be held in seven phases from April 11 to May 19 and counting will take place on May 23. However, elections for the Jammu and Kashmir Assembly, will not be held along with the Lok Sabha polls due to security reasons, the Election Commission said on Sunday.
Overseas, European stocks were trading higher, lifted by the oil and mining sectors. Most Asian stocks edged higher as Chinese markets rebounded on hopes of more policy support for the slowing economy. China's central bank on Sunday pledged to increase loans and lower borrowing costs after a sharp drop in bank lending in February.
Investors awaited more details about US - China trade talks. US stocks finished lower Friday for a fifth session in a row, after a disappointing jobs report added to concerns about slowing global growth.
Labor Department announced the U.S. economy added just 20,000 new jobs in February. The unemployment rate fell to 3.8% from 4%, while workers saw an 11 cent-an-hour increase in average hourly earnings, the largest gain since the end of the 2009 recession.
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