Key benchmark indices firmed up once again and were trading near day's high in afternoon trade. At 13:17 IST, the barometer index, the S&P BSE Sensex, was up 121.06 points or 0.33% at 36426.08. The Nifty 50 index was up 8.10 points or 0.07% at 10,975.50.
The market breadth, indicating the overall health of the market, was negative. On BSE, 965 shares rose and 1514 shares fell. A total of 135 shares were unchanged.
Axis Bank (up 3.25%), Sun Pharmaceutical Industries (up 3.02%), Yes Bank (up 2.50%), Maruti Suzuki India (up 2.32%), IndusInd Bank (up 2.20%) and Hindustan Unilever (up 2.12%), were major Sensex gainers.
IT major Infosys was up 2.13%. Infosys announced that Infosys Public Services Inc. (IPS) received a CAD $80.3 million contract by Public Services and Procurement Canada (PSPC) to modernize and automate their procurement processes. IPS is working with Ernst & Young LLP (EY) and SAP Canada Inc. (SAP) to digitize PSPC procurement system through the implementation and management of a cloud-based electronic procurement solution. The announcement was made after market hours yesterday, 24 September 2018.
Adani Ports & Special Economic Zone (down 3.07%), Power Grid Corporation of India (down 2.85%), Bharti Airtel (down 2.36%), Tata Steel (down 2.1%), NTPC (down 1.99%), Coal India (down 1.95%) and ICICI Bank (down 1.33%), were the major Sensex losers.
Overseas, European stocks traded mostly higher on Tuesday morning, supported by strong earnings.
Asian stocks were mixed. Markets in Hong Kong and South Korea are closed for public holidays. Investors were cautious as the latest round of US-China tariffs revived fears the trade dispute would knock global growth, while crude oil was elevated near four-year highs after Saudi Arabia and Russia ruled out immediate production increases.
US stocks closed mostly lower Monday as the US-China trade war entered a new phase when tariffs on billions of dollars of products took effect. Investors were also looking ahead to the Federal Reserve's two-day monetary policy meeting, which wraps Wednesday and is likely to result in another interest-rate hike.
On the US economic data front, the Chicago Fed's national activity index came in at 0.18 in August, unchanged with the previous month.
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