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Strong market breadth

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Key benchmark indices extended early gains and hit fresh intraday high in morning trade. At 10:28 IST, the barometer index, the Sensex, was up 87.36 points or 0.25% at 34,392.79. The index was up 13.15 points or 0.12% at 10,541.50. Sentiment was boosted after the Meteorological Department (IMD) forecasted normal monsoon this year.

Stocks opened higher as sentiment was boosted after the Meteorological Department (IMD) forecasted normal monsoon this year.

The Mid-Cap index was up 0.36%. The Small-Cap index was up 0.56%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,384 shares rose and 710 shares fell. A total of 100 shares were unchanged.

Overseas, Asian stocks were trading mixed as investors parsed a mixed set of economic numbers out of and sought fresh leads after weeks of volatility sparked by trade frictions and geopolitical conflict.

China's rose 6.8% from a year earlier in the first quarter, holding steady from the 6.8% growth in the fourth quarter of last year, said today, 17 April 2018.

Meanwhile, industrial production grew just 6% in March, compared with 7.2% in the first two months of the year, and 6.8% overall for the quarter. In other data, January to March fixed asset investment growth slowed to 7.5% from a year ago, down from 7.9% in the first two months of the year.

US stocks closed sharply higher yesterday, 16 April 2018 with major indexes rallying in a broad advance as the first-quarter earnings season pointed to strong growth and geopolitical tensions showed signs of easing.

Back home, Power Grid Corporation of (up 2.76%), (up 1.65%) and (up 1.5%) edged higher from the Sensex pack.

FMCG stocks gained after the (IMD) forecasted normal monsoon this year. FMCG firms derive substantial sales from rural India. Good monsoon may boost farm incomes and consumer spending.

(up 1.38%), (India) (up 0.03%), India (up 0.29%), Godrej Consumer Products (up 0.05%), (up 0.77%), (up 0.06%), (up 1.91%), (up 1.56%), (up 0.27%) rose.

(down 1.27%), (down 0.1%) and (down 0.08%) fell.

rose 6.62% after the company said it bagged orders worth Rs 3577.93 crore for rural and urban electrification projects in The announcement was made after market hours yesterday, 16 April 2018.

announced that its engineering and project business unit bagged orders for ten rural/urban electrification projects in aggregating worth Rs 3577.93 crore from Madhyanchal Vidyut Vitaran Nigam (MVVNL) under the Saubhagya Yojna of The projects shall be completed within 15 months from the date of issue of letter of intent (LOI).

India is set to get a normal monsoon this year, with average rainfall likely to be 97%, the (IMD) announced after market hours yesterday, 16 April 2018. Between 96% and 104% of the long-period average is considered a normal monsoon, and the margin of error is 5%.

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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, April 17 2018. 10:37 IST
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