Volatility struck bourses in early afternoon trade as the key benchmark indices once again regained positive zone after sliding in negative zone in mid-morning trade. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 54.48 points or 0.15% at 36,372.81. The Nifty 50 index was up 18.95 points or 0.17% at 10,905.75. Shares of index heavyweight Reliance Industries rose. Most realty stocks gained. Key benchmark indices drifted higher in early trade on positive Asian stocks. Stocks trimmed gains in morning trade. Key indices erased intraday gains and sink in negative zone in mid-morning trade. The S&P BSE Mid-Cap index was up 0.21%. The S&P BSE Small-Cap index was up 0.45%. Both these indices outperformed the Sensex. The market breadth, indicating the overall health of the market, was positive. On the BSE, 1220 shares rose and 1027 shares fell. A total of 142 shares were unchanged. Index heavyweight Reliance Industries rose 0.92% to Rs 1,139.95 Most realty stocks rose. Indiabulls Real Estate (up 0.23%), Housing Development and Infrastructure (up 1.25%), D B Realty (up 1.1%), Prestige Estates Projects (up 2.14%) and Oberoi Realty (up 0.44%) rose. Sobha (down 1.29%), Godrej Properties (down 0.71%) and DLF (down 0.59%) fell. Suven Life Sciences rose 1.89%. Suven Life Sciences (Suven) announced the grant of 1 product patent from Australia and 1 product patent from Singapore corresponding to the new chemical entities for the treatment of disorders associated with Neurodegenerative diseases and patents are valid through 2036. The announcement was made during trading hours today, 16 January 2019. The granted claims of the patents include the class of selective 5-HT4 and M1 PAM compounds respectively and are being developed as therapeutic agents for neurodegenerative disorders such as for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Parkinson and Schizophrenia etc. On the macro front, trade deficit narrowed in December 2018, government data released after market hours yesterday, 15 January 2019 showed. India's merchandise exports rose 0.3% to US$ 27.93 billion in December 2018 over a year ago. Meanwhile, merchandise imports declined 2.4% to US$ 41.01 billion, leading to 7.9% dip in the trade deficit to 10-month low of US$ 13.08 billion in December 2018 from US$ 14.20 billion in December 2017. Merchandise exports in rupees increased 10.5% to Rs 197536 crore, while imports moved up 7.4% to Rs 290033 crore in December 2018 over December 2017. The trade deficit declined to Rs 92497 crore in December 2018 compared with Rs 95594 crore in December 2017. Overseas, most Asian stock markets were trading higher supported by positive sentiment to China signaling more stimulus measures to come, including larger tax cuts, amid concerns of a slowdown in the world's second-largest economy. US stocks snapped a two-session skid Tuesday, as a robust tech rally offset lackluster results from major US banks, including Dow-component JPMorgan Chase & Co. In the UK, Prime Minister Theresa May's plan to leave the European Union by a March 29 deadline was rejected overwhelmingly by the parliament, triggering more uncertainty as the country struggles to engineer an orderly exit from the trade bloc. In a crushing defeat, 432 members voted against May's proposal while 202 voted in favor. Powered by Capital Market - Live News |