Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 201.37 points or 0.52% at 39,107.21. The Nifty 50 index was up 57.65 points or 0.49% at 11,748.
Among secondary barometers,the BSE Mid-Cap index was up 0.19%. The BSE Small-Cap index was up 0.31%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 650 shares rose and 256 shares fell. A total of 41 shares were unchanged.
Overseas, Asian shares were mixed on Tuesday, as US-Japan trade talks kicked off and the Bank of Japan chief commented on the risks of increasing trade protectionism for the global economic growth outlook. US President Donald Trump has made it clear he is unhappy with Japan's $69 billion trade surplus with the United States and wants a two-way agreement to address it, the media reported.
Meanwhile, US stocks closed lower Monday, as results from Goldman and Citigroup failed to thrill investors.
Back home, Dr. Reddy's Laboratories was up 1.19%. The company said that it received the Establishment Inspection Report (EIR) from US FDA, for Formulations Manufacturing Plant - 3 at Bachupally, Hyderabad. The announcement was made after market hours yesterday, 15 April 2019.
Cipla was up 0.38%. Cipla Technologies LLC (Cip Tec), a subsidiary of Cipla and Pulmatrix, Inc. announced their entry into a Definitive Agreement for the co-development and commercialization of Pulmazole - an inhaled iSPERSE formulation of the antifungal drug itraconazole for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma. The announcement was made after market hours yesterday, 15 April 2019.
Deepak Fertilisers and Petrochemicals Corporation was up 6.14%. The company announced the commercial production of Nitric Acid complex at Dahej, Gujarat. The new facility, with project cost of approx. Rs 550 crore, has production capacities of about 92 KTPA for Concentrated Nitric Acid (CNA) and about 149 KTPA for Diluted Nitric Acid (DNA). The announcement was made after market hours yesterday, 15 April 2019.
Meanwhile, India Meteorological Department (IMD) has issued its first stage operational forecast for the southwest monsoon season (June to September) rainfall for the country as a whole in 2019 of its two stages forecast. The first stage forecast is issued in April and the second stage forecast is issued in June.
The Southwest monsoon seasonal (June to September) rainfall over the country as a whole is likely to be near normal. Quantitatively, the monsoon seasonal (June to September) rainfall is likely to be 96% of the Long Period Average (LPA) with a model error of 5%. The LPA of the season rainfall over the country as a whole for the period 1951-2000 is 89 cm.
Weak El Ni conditions are likely to prevail during the monsoon season with reduced intensity in the later part of the season. IMD will issue the second stage Monsoon-2019 Forecast during the first week of June 2019.
On the economic front, India's overall exports (merchandise and services combined) in April-March 2018-19 are estimated to be $535.45 billion, exhibiting a positive growth of 7.97% over the same period last year.
India's merchandise exports increased 11% to $32.55 billion in March 2019 over a year ago. Meanwhile, merchandise imports rose 1.4% to $43.44 billion. The trade deficit for March 2019 narrowed to $10.89 billion as against the deficit of $13.51 billion in March 2018.
As per the data released by the Reserve Bank of India, India's services exports increased 5.6% to $16.58 billion in February 2019 over February 2018. Meanwhile, India's services imports declined 3.3% to $9.81 billion in February 2019. India's services trade surplus jumped 21.7% to $6.78 billion in February 2019 from $5.57 billion in February 2018.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)