Stocks hovered in positive zone in mid-afternoon trade on sustained buying demand in index pivotals. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 183.85 points or 0.52% at 35,667.32. The Nifty 50 index was up 47.65 points or 0.44% at 10,834.60. Capital goods stocks stocks saw mixed trend. Sentiment on the domestic bourses was boosted by upbeat global stocks after US President Donald Trump and North Korean leader Kim Jong Un reportedly signed an unspecified document in Singapore.
Domestic stocks edged higher in early trade. Key benchmark indices extended gains and hit fresh intraday high in morning trade. Stocks hovered near day's high in mid-morning trade. Firmness prevailed on the bourses in early afternoon trade. Indices trimmed gains after hitting fresh intraday high in afternoon trade.
The S&P BSE Mid-Cap index was up 0.53%, outperforming the Sensex. The S&P BSE Small-Cap index was up 0.36%, underperforming the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1326 shares rose and 1213 shares fell. A total of 148 shares were unchanged.
Bharti Airtel (down 1.8%), Tata Steel (down 1.41%) and Coal India (down 1.13%) edged lower from the Sensex pack.
Capital goods stocks stocks saw mixed trend. ABB India (up 3.08%), GE T&D India (up 0.8%), Bharat Electronics (up 0.97%) and Siemens (up 1.18%) rose.
Bharat Heavy Electricals (Bhel) (down 0.32%), BEML (down 1.21%), Punj Lloyd (down 0.59%) and Thermax (down 0.27%) fell.
L&T rose 1.37%. The Heavy Civil Infrastructure business of L&T Construction will design and construct a 3.2 km, six-lane iconic bridge across the river Krishna, which includes 2.72 km of approach bridges, on EPC basis. The bridge will connect Pavitrasangamam in Vijayawada and N10 Road in Amaravati. The Rs 1387 crore project was received from Amaravati Development Corporation (ADCL) and L&T has also been entrusted with the operation and maintenance for the bridge for five years. The announcement was made during market hours today, 12 June 2018.
Traders and investors are closely awaiting a series of domestic and global events this week. Consumer price index (CPI)-inflation and index of industrial production (IIP) data is due today, 12 June 2018, while the wholesale price index (WPI) inflation data will be announced on Thursday, 14 June 2018.
On the global front, North Korean leader Kim Jong Un and US President Donald Trump have met at the Capella Hotel in Sentosa island, Singapore for a historic summit, after both sides sought to narrow differences over how to end a nuclear standoff. The historic meeting has come to an end. Trump and Kim Jong Un have reportedly signed an unspecified document in Singapore, amid Trump's comment that North Korea's denuclearization process will begin very quickly.
Meanwhile, UK Prime Minister Theresa May faces votes that could derail her Brexit policy today, 12 June 2018. The US Federal Reserve is expected to raise interest rates Wednesday, 13 June 2018 as the US economy remains solid. European Central Bank rates decision is on Thursday, 14 June 2018 in which policy makers are poised to hold formal talks on ending its bond-buying program. The Bank of Japan meets on Friday, 15 June 2018 with no change to policy expected.
In the overseas market, most European and Asian stocks traded higher Tuesday after US President Donald signed a deal with the North Korean leader, with the latter claiming there will be a major change in the world.
US stocks rose in a relatively quiet day yesterday, 11 June 2018 as investors started a hectic week during which three major central banks set interest rates.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)