Shares continued trading in a range in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, was up 79.74 points or 0.23% at 35,287.88. The Nifty 50 index was up 18.65 points or 0.17% at 10,734.15. The market extended gains for the second straight day on unabated buying by domestic institutional investors. Positive leads from Asian markets and overnight gains on the Wall Street also boosted sentiment.
The market breadth, indicating the overall health of the market, was almost even. On BSE, 1,186 shares rose and 1,184 shares fell. A total of 104 shares were unchanged.
Most cement shares rose. UltraTech Cement (up 0.80%) and ACC (up 0.16%), edged higher. Ambuja Cements was down 0.98%.
Grasim Industries was up 1.30%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
Most realty shares rose. Godrej Properties (up 4.66%), Anant Raj (up 2.43%), Phoenix Mills (up 1.36%), DLF (up 1.07%), Indiabulls Real Estate (up 1.06%), Sunteck Realty (up 0.95%), Mahindra Lifespace Developers (up 0.74%), D B Realty (up 0.63%), Peninsula Land (up 0.39%), Prestige Estates Projects (up 0.21%), Parsvnath Developers (up 0.13%), Omaxe (up 0.02%) and Sobha (up 0.01%), edged higher. Housing Development and Infrastructure (HDIL) (down 0.79%), Oberoi Realty (down 0.83%) and Unitech (down 1.08%), edged lower.
Overseas, Asian markets were trading higher following firm leads from Wall Street. China's Shanghai Composite was up 0.73%. China's April exports rose 12.9% from a year earlier, rebounding from a drop in March, while imports grew 21.5%, both growing much faster than expected despite worries over an escalating trade dispute with the United States. That left the country with a trade surplus of $28.78 billion for the month, data showed on Tuesday, 8 May 2018.
US stock market settled higher on Monday, but well off the peak of the day, as energy shares pulled back following a late-afternoon tweet from President Donald Trump indicated that a decision was imminent on whether the US would decertify a 2015 Iran nuclear pact.
Trump tweeted that he would make an announcement on a possible decertification of the Iran nuclear agreement that the Obama administration had reached with the Middle Eastern country back in 2015. European leaders had urged Trump not to abandon the pact. Trump had until 12 May 2018 to decide whether to keep the deal intact. Abandoning it would trigger a reimposition of economic sanctions on Iran, hampering oil exports from the country and cutting global supply.
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