Stocks extended gains and hit fresh intraday high in afternoon trade on steady buying demand in index pivotals. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 293.99 points or 0.8% at 36,910.80. The Nifty 50 index was up 96.65 points or 0.88% at 11,031. The Nifty was currently trading above the psychologically important 11,000 mark after crossing that level in early trade. The market breadth, indicating the overall health of the market, was weak.
Indices opened higher and hit fresh intraday high in early trade. Benchmarks pared gains in morning trade. Barometers firmed up once again in mid-morning trade.
Broader market witnessed selling. Among secondary barometers, the BSE Mid-Cap index was down 0.48%. The BSE Small-Cap index was down 0.25%.
The market breadth, indicating the overall health of the market, was weak. On BSE, 872 shares rose and 1509 shares fell. A total of 128 shares were unchanged.
Tata Steel (up 3.74%), Bajaj Finance (up 3.46%), ONGC (up 2.03%), ICICI Bank (up 1.93%) and Bajaj Auto (up 1.93%) edged higher from the Sensex pack.
Axis Bank (down 1.33%), Bharti Airtel (down 1.04%) and IndusInd Bank (down 0.75%) edged lower from the Sensex pack.
HPCL gained 3.42%. The company's net profit dropped 87.3% to Rs 247.55 crore on 25.12% rise in total income to Rs 72505.50 crore in Q3 December 2018 over Q3 December 2017. The announcement was made after market hours yesterday, 5 February 2019.
HCL Technologies (HCL) was up 1.11%. The company has partnered with Harris Geospatial Solutions Inc., a subsidiary of Harris Corporation (HRS), to provide an Al driven, remote sensing data analytics system for its utilities customers. The system will allow utilities to have a more active, controlled view of information through the use of remote sensing systems, which includes Unmanned Aircraft Systems (UAS), manned aircraft, and space-borne data sources. The announcement was made after market hours yesterday, 5 February 2019.
Overseas, Japan's benchmark Nikkei 225 ended higher. China and several other markets in the region are closed for the Lunar New Year holiday.
US stocks closed higher Tuesday, as investors continued to sort through corporate earnings while awaiting President Donald Trump's State of the Union address in the evening.
President Donald Trump called for unity in his opening remarks at his second State of the Union address, and promised to lay out the agenda of the American people. Trump added that he wants a US immigration system that is safe, lawful, modern and secure as he seeks funding for a border wall rejected by Democrats.
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