Key benchmark indices were trading with small gains in early trade. At 9:17 IST, the barometer index, the S&P BSE Sensex, was up 20.95 points or 0.05% at 38,743.88. The Nifty 50 index was up 2.65 points or 0.02% at 11,694.55.
Market may witness volatility as traders roll over positions in the F&O segment from the August 2018 series to September 2018 series. The August 2018 F&O contracts expire today, 30 August 2018.
Among secondary barometers,the BSE Mid-Cap index was up 0.24%. The BSE Small-Cap index was up 0.09%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 555 shares rose and 350 shares fell. A total of 32 shares were unchanged.
Overseas, Asian stocks were mixed. The US stock market extended gains Wednesday as the S&P 500 and the Nasdaq closed at a record for a fourth session, while the Dow finished at its highest since February. Investor sentiments were also boosted by the announcement that Canada had rejoined the North American Free Trade Agreement (NAFTA) talks, following the deal reached by the US and Mexico earlier this week.
On the US data front, an update to second-quarter gross domestic product (GDP) came in showing growth at a 4.2% annualized pace, which represented the fastest pace of expansion in almost four years.
Pending-home sales declined 0.7% in July, the National Association of Realtors said. NAR's index, which tracks real-estate transactions where a contract has been signed but the deal has not yet closed, fell to a reading of 106.2.
Back home, Reliance Infrastructure was up 0.73%. The company announced the successful completion of the sale of its 100% shareholding in integrated mumbai power distribution business to Adani Transmission. The total transaction value is Rs 18800 crore. The announcement was made after market hours yesterday, 29 August 2018.
Laurus Labs was up 3.26%. The company announced that it has received an approval from United States Food and Drug Administration (US FDA) for Metformin Hydrochloride Tablets USP 500mg, 850mg and 1000mg which are used for treatment of diabetes. The Product and API will be commercialized from the company's unit 2 located at APSEZ, Atchutapuram, Visakhapatnam, Andhra Pradesh. The announcement was made after market hours yesterday, 29 August 2018.
Greaves Cotton was up 7.06%. The company's board of directors has approved the proposal of investment in Ampere Vehicles. The announcement was made after market hours yesterday, 29 August 2018.
National Fertilizers (NFL) was up 0.31%. The company has signed Memorandum of Agreement (MoA) with RFCL to market RFCL Products including 12.71 LMT urea to be produced by RFCL Plant at Ramagundam. NFL would market RFCL Urea under its brand 'Kisan'. The announcement was made after market hours yesterday, 29 August 2018.
Jain Irrigation Systems was up 2.30%. The company announced award of $18.27 million contract by Rwanda Agriculture Board (RAB), Kigali, Rwanda for irrigation and watershed development in Mahama Sector under Export Targeted Modern Irrigated Agriculture Projects in Rwanda. The announcement was made after market hours yesterday, 29 August 2018.
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