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Strong market breadth

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Stocks trimmed gains in morning trade after an initial upmove. At 10:30 IST, the barometer index, the Sensex, was up 152.62 points or 0.43% at 35,810.48. The index was up 44.35 points or 0.41% at 10,817. Telecom stocks rose. saw mixed trend.

Trading for the week began on a firm note as key benchmark indices saw gap-up opening on positive Asian stocks.

The Mid-Cap index was up 0.78%. The Small-Cap index was up 0.92%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1421 shares rose and 570 shares fell. A total of 80 shares were unchanged.

Overseas, Asian stocks gained as investors set aside concerns about escalating trade tensions to prepare for the latest earnings season after signs of continued economic strength. US stocks closed solidly higher on Friday, 6 July 2018 after a read on the labor market came in stronger than expected, supporting the thesis that economic fundamentals remain healthy despite trade-war anxieties.

On the economic data front, the US created 213,000 new jobs in June, while the readings for May and April were also revised higher. Separately, the unemployment rate rose to 4% from 3.8%. Meanwhile, the nation's trade deficit shrank 6.6% in May to a 19-month low.

On the political front, the officially imposed tariffs on $34 billion of Chinese imports at midnight Eastern Time, and implemented tariffs on the same value in US goods, as promised.

Back home, telecom stocks rose. (up 1.65%), MTNL (up 1.57%), (Maharashtra) (up 0.67%), (up 0.15%) and (up 1.11%) rose.

Shares of rose 0.75%. is a provider of and is a unit of

saw mixed trend. (up 0.31%) and ACC (up 0.63%) rose. (down 0.94%) and (down 0.11%) fell.

was off 0.34%. Grasim has exposure to the through its holding in

rose 0.04%. announced that the operations at its located at St. Jose de Areal, Salcete-Goa, has been temporarily shut down for regular maintenance work from 6 July 2018. There would not be any material financial impact due to the temporary shut-down of the unit on account of sufficient inventory of finished material. The announcement was made after market hours on Friday, 6 July 2018.

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

First Published: Mon, July 09 2018. 10:37 IST