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Shares rally on broad-based buying support

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Key equity indices reported sharp gains on strong buying demand in index pivotals. Overall risk appetite improved after foreign investors ramped up buying in domestic equity market. The sentiment also got a boost by a strong rupee and positive global stocks after the agreed to changes in a Brexit deal ahead of a vote in the

The Sensex rose 481.56 points or 1.30% to settle at 37,535.66, its highest closing level since 17 September 2018. The index rose 532.53 points, or 1.44% at the day's high of 37,586.63. The index rose 176.75 points, or 0.48% at the day's low of 37,230.85.

The index rose 133.15 points or 1.19% to settle at 11,301.20, its highest closing level since 17 September 2018. The index rose 152.35 points, or 1.36% at the day's high of 11,320.40. The index rose 58.95 points, or 0.53% at the day's low of 11,227.

The S&P BSE Mid-Cap index rose 0.65%. The S&P BSE Small-Cap index rose 1.07%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1653 shares rose and 1067 shares fell. A total of 142 shares were unchanged.

Among the sectoral indices on BSE, the (up 2.60%), the index (up 2.44%) and the (up 2.23%), outperformed the Sensex. The S&P BSE IT index (down 0.22%), the S&P BSE Auto index (up 0.26%) and the (up 0.44%), underperformed the Sensex.

rose 3.27% at Rs 388.20. The stock hit a record high of Rs 389 in intraday today, 12 March 2019.

Index heavyweight gained 2.22% at Rs 1329.85. The stock hit a record high of Rs 1,333 in intraday today, 12 March 2019.

rose 3.08%. The power transmission & distribution business of Construction has bagged a number of engineering, procurement and construction orders in and abroad. The announcement was made during market hours today, 12 March 2019.

(up 5.12%), (up 3.69%), (up 2.32%), (up 1.90%) and HDFC (up 1.83%), were the major Sensex gainers.

(down 1.3%), (down 0.67%), NTPC (down 0.59%), (down 0.52%) and (down 0.29%), were the major Sensex losers.

rose 5.94% after the company said it has secured new orders worth Rs 1,323 crore across its various businesses. The announcement was made during trading hours today, 12 March 2019.

Company fell 4.71% to Rs 371.45. The company said one of its promoters, Standard Life, will sell up to 4.92% stake in the firm through offer for sale (OFS). The (Mauritius Holdings) 2006, one of the promoters of the insurer, began stake sale through OFS today, 12 March 2019 and the floor price for the sale is fixed at Rs 357.50 per share.

On the first day of the bidding for OFS today, 12 March 2019, at 15:30 IST, bids were received for 16.38 crore shares from the non-retail investors, representing a subscription of 260.10%.

proposed to sell up to 7 crore equity shares, representing 3.47% stake, today, 12 March 2019 (T Day) (for only) and on 13 March 2019 (T+1 Day) (for and for who choose to carry their un-allotted bids). It has an option to additionally sell up to 2.95 crore equity shares, representing 1.46% stake, (the oversubscription option). Currently, holds 29.22% stake in the company while mortgage firm HDFC has a 51.48% stake.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 69.64, compared with its close of 69.89 during the previous trading session.

In the global commodities markets, Brent for May 2019 settlement was up 66 cents at $67.24 a barrel. The contract rose 84 cents, or 1.28% to settle at $66.58 a barrel during the previous trading session.

Overseas, European shares traded higher following a strong session in Asian markets, as Monday's rebound continued. will vote later Tuesday on a new Brexit deal after and the agreed late Monday to some last minute changes to the divorce agreement.

Asian stocks gained on the back of a strong performance in U.S. markets overnight. U.S. stocks snapped a five-day losing streak to close higher Monday as rallied, offsetting some of the gloom from Boeing Co.'s woes after the second deadly crash in about six months involving the company's 737 aircraft.

In US data, U.S. unexpectedly rose in January. rose 0.2%. Data for December was revised down to show dropping 1.6% instead of tumbling 1.2% as previously reported.

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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, March 12 2019. 16:41 IST