Key benchmark indices were trading higher in early trade. At 9:18 IST, the barometer index, the S&P BSE Sensex, was up 98.91 points or 0.28% at 35,014.29. The Nifty 50 index was up 33.50 points or 0.32% at 10,651.75. The Sensex was trading above the psychologically important 35,000 mark after opening above that level.
Among secondary barometers,the BSE Mid-Cap index was up 0.37%. The BSE Small-Cap index was up 0.40%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 740 shares rose and 366 shares fell. A total of 42 shares were unchanged.
Overseas, Asian shares were mixed despite the strong closing on Wall Street as investors digested last week's trade talks and US jobs numbers. US stocks logged sharp gains on Friday, 4 May 2018, as technology stocks rallied, overshadowing uncertainty over tense trade talks between the US and China and a weaker-than-expected rise in April nonfarm payrolls.
The US created 164,000 new jobs in April. Separately, the unemployment rate fell to 3.9% from 4.1%, the first time the jobless rate has dropped below 4% since the end of 2000.
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Meanwhile, China and the US ended the second day of trade talks on Friday. Both sides recognise there are still big differences on some issues and that they need to continue to step up their work to make progress. The two sides exchanged views on expanding US exports to China, trade in services, bilateral investment, protection of intellectual property rights, resolution of tariffs and non-tariff measures.
Back home, Avenue Supermarts was down 1.14%. The company's net profit surged 72.86% to Rs 167.10 crore on 22.57% rise in total income to Rs 3824.87 crore in Q4 March 2018 over Q4 March 2017. The announcement was made on Saturday, 5 May 2018.
Wockhardt was down 2.11%. The company reported consolidated net loss of Rs 152.91 crore in Q4 March 2018 as compared to net loss of Rs 207.22 crore in Q4 March 2017. Total income rose 9.79% to Rs 1009.85 crore in Q4 March 2018 over Q4 March 2017. The announcement was made after market hours on Friday, 4 May 2018.
L&T was up 0.58%. The company said that its subsidiary company, L&T Infrastructure Development Projects (L&TIDPL) has transferred its stake in its five subsidiary companies - Krishnagiri Thopur Toll Road Limited (KTTL), L&T BPP Tollway (BPP), Devihalli Hassan Tollway (DHTL), Krishnagiri Walajahphet Tollway (KWTL) and Western Andhra Tollways (WATL) to Indinfravit Trust through the infrastructure investment trust (InvIT) route on 4 May 2018. The announcement was made after market hours on Friday, 4 May 2018.
PC Jeweller was up 19.91%. The company said that a board meeting will be held on 10 May 2018, to consider the proposal for buy back of fully paid-up equity shares of the company. The announcement was made on Saturday, 5 May 2018.
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