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Strong market breadth

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Key equity indices pared gains in morning trade. At 10:35 IST, the barometer index, the S&P BSE Sensex, was up 108.40 points or 0.28% at 38,793.12. The Nifty 50 index was up 38.60 points or 0.33% at 11,636.60. The undertone of the market continued to be strong amid positive global cues.

Among secondary barometers, the BSE Mid-Cap index was up 0.45%. The BSE Small-Cap index was up 0.57%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1244 shares rose and 658 shares fell. A total of 111 shares were unchanged.

Metal shares advanced. Hindustan Copper (up 1.44%), Jindal Steel & Power (up 0.99%), Hindalco Industries (up 0.88%), Vedanta (up 0.83%), JSW Steel (up 0.80%), Tata Steel (up 0.78%), Hindustan Zinc (up 0.65%), National Aluminium Company (up 0.63%), NMDC (up 0.52%) and Steel Authority of India (up 0.52%), edged higher.

FMCG shares were mixed. Jyothy Laboratories (up 4.61%), Tata Global Beverages (up 1.61%), Bajaj Corp (up 0.63%), Nestle India (up 0.52%) and Marico (up 0.24%), edged higher. GlaxoSmithKline Consumer Healthcare (down 0.34%), Godrej Consumer Products (down 0.4%), Hindustan Unilever (down 0.71%), Dabur India (down 0.81%), Colgate Palmolive (India) (down 0.96%), Procter & Gamble Hygiene & Health Care (down 1.03%) and Britannia Industries (down 1.29%), edged lower.

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.

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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. 10:37 IST