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Shares jump on positive global cues

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Key benchmark indices were trading higher in early trade amid positive global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 173.56 points or 0.45% at 38,858.28. The Nifty 50 index was up 53.15 points or 0.46% at 11,651.15.

Among secondary barometers,the BSE Mid-Cap index was up 0.53%. The BSE Small-Cap index was up 0.47%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 763 shares rose and 241 shares fell. A total of 40 shares were unchanged.

Overseas, most Asian shares rose on Friday as investors watched for more details about a potential trade deal between China and the US. The stock markets in China and Hong Kong are closed on Friday for a holiday.

Chinese Vice Premier Liu He said a new consensus has been reached between China and the US on the text of a trade agreement that they are negotiating, according to official state news website Xinhua.

US stocks closed mostly higher Thursday, as investors continued to monitor trade talks between the US and China.

On the data front, new applications for unemployment benefits fell to 202,000 in the week ended March 30, the lowest level since 1969, the government said.

Back home, Cipla was up 0.95%. The company said that following the inspection by the United States Food and Drug Administration (USFDA) at the Goa manufacturing facility from 21 to 28 January 2019, the company has received the Establishment Inspection Report (EIR), indicating closure of the inspection. The announcement was made after market hours yesterday, 4 April 2019.

Godrej Properties was up 5%. The company announced the addition of a new residential project, in Vashi, Navi Mumbai. Spread across 5 acres, this project will offer approximately 47,000 square meters (approximately 0.50 million square feet) of saleable area comprising mainly of modern residential apartments of various configurations. The announcement was made after market hours yesterday, 4 April 2019.

Alembic Pharmaceuticals was up 0.95%. The company has received Establishment Inspection Report (EIR) from US Food & Drug Administration (USFDA) for the inspection carried out by them at our Formulation Facility at Panelav during the period from 22 October 2018 to 25 October 2018. The announcement was made after market hours yesterday, 4 April 2019.

Zensar Technologies was up 5.24%. The company announced its expansion into the Latin American market with the launch of its operations in-Mexico City, Mexico. The operations will focus on supporting the company's customers in North America and the local region. The announcement was made after market hours yesterday, 4 April 2019.

VIP Industries was up 0.22%. The company said that there was a fire accident at the company's warehouse situated at Khasra No. 2900-2904, Dhoom Manikpur, Dadri, Gautambudh Nagar, Uttar Pradesh on 3 April 2019 at around 4.00 p.m. The fire was brought under Control by the Fire Brigades. The announcement was made after market hours yesterday, 4 April 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 05 2019. 09:18 IST
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