Key benchmark indices were trading higher in a narrow range in morning trade. At 10:23 the barometer index, the S&P BSE Sensex, was up 105.33 points or 0.30% at 35,020.71. The Nifty 50 index was up 33.35 points or 0.31% at 10,651.60. The Sensex was trading above the psychologically important 35,000 mark after opening above that level.
The Sensex rose 146.18 points, or 0.42% at the day's high of 35,061.56 in early trade. The index rose 62.36 points, or 0.18% at the day's low of 34,977.74 in morning trade. The Nifty rose 41.55 points, or 0.39% at the day's high of 10,659.80 in early trade. The index rose 17.40 points, or 0.16% at the day's low of 10,635.65 in morning trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.27%, underperforming the Sensex. The BSE Small-Cap index was up 0.38%, outperforming the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,211 shares rose and 863 shares fell. A total of 98 shares were unchanged.
Metal shares were in demand. National Aluminium Company (up 2.04%), Hindalco Industries (up 1.88%), Jindal Steel & Power (up 1.50%), Steel Authority of India (up 1.31%), Vedanta (up 1.15%), JSW Steel (up 0.94%), Tata Steel (up 0.86%), Hindustan Copper (up 0.57%), NMDC (up 0.50%) and Hindustan Zinc (up 0.07%), edged higher.
FMCG shares were mixed. Procter & Gamble Hygiene & Health Care (down 1.01%), Marico (down 0.69%), Jyothy Laboratories (down 0.45%), Godrej Consumer Products (down 0.3%), Bajaj Corp (down 0.25%), Tata Global Beverages (down 0.17%) and Nestle India (down 0.08%), edged lower. Colgate Palmolive (India) (up 0.26%), Dabur India (up 0.55%), Britannia Industries (up 0.92%), Hindustan Unilever (up 0.99%) and GlaxoSmithKline Consumer Healthcare (up 1.16%), edged higher.
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.
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.
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