Volatility ruled the roost in afternoon trade as the key benchmark indices regained some lost ground soon after retreating from higher levels. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 53.94 points or 0.16% at 34,161.72. The Nifty 50 index was up 6.05 points or 0.06% at 10,464.70. Most auto stocks rose. Most IT stocks rose ahead of Q4 results of Infosys.
The breadth, indicating the overall health of the market, turned negative from positive. On BSE, 1,268 shares declined and 1,253 shares rose. A total of 147 shares were unchanged.
Most IT stocks rose ahead of Q4 results of Infosys. TCS (up 2.38%), Wipro (up 1.9%), Oracle Financial Services Software (up 0.42%), Tech Mahindra (up 1.29%) and MindTree (up 1.63%) rose. Hexaware Technologies (down 0.79%) and Mphasis (down 1.82%) fell.
IT major Infosys rose 0.71% ahead of its Q4 results today, 13 April 2018.
HCL Technologies (HCL) was down 1.85%. HCL and Sumeru Equity Partners (SEP), a technology and growth-focused private equity firm, have signed a definitive agreement to acquire Actian Corporation. The all-cash deal is valued at $330 million. HCL will own 80% while SEP will own approximately 20% stake of the JV entity which inturn will own 100% shareholding of Actian Corporation. The announcement was made after market hours yesterday, 12 April 2018.
Palo Alto-based Actian-a leader in hybrid data management, cloud integration, and analytics solutions-powers insight-driven enterprises around the globe to help them solve the toughest data challenges.
Most auto stocks rose. Escorts (up 3.01%), Bajaj Auto (up 0.83%), Mahindra & Mahindra (M&M) (up 0.14%), Eicher Motors (up 1.7%) and TVS Motor Company (up 2.09%) rose.
Hero MotoCorp (down 0.63%), Tata Motors (down 0.57%) and Maruti Suzuki India (down 0.59%) fell.
On macro front, the all-India general consumer price index (CPI) inflation eased marginally to five-month low of 4.28% in March 2018, compared with 4.44% in February 2018.
India's industrial production continued to record a healthy growth for the fourth straight month at 7.1% in February 2018 over February 2017. The manufacturing sector's production surged 8.7% in February 2018, contributing to the overall growth in industrial production. However, the growth of electricity generation output moderated to 4.5%, while the mining output declined 0.3% in February 2018.
Overseas, European stock markets were trading higher in early trade while most Asian stocks rose after Donald Trump toned down his rhetoric on the timing of a missile attack on Syria.
China's Shanghai Composite was down 0.65%. China's trade balance swung to a deficit of $4.98 billion in March from a $33.7 billion surplus in the previous month. Exports declined 2.7% in March from a year earlier, following a 44.5% surge in February. Imports in March expanded 14.4% from a year earlier, compared with a 6.8% increase in February.
US stocks closed sharply higher on Thursday, as geopolitical concerns appeared to fade after President Donald Trump tweeted that a military strike on Syria may not be imminent. Escalating tensions over the Middle Eastern country were seen as a major contributor to weakness in Wednesday's session.
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