Indian share markets ended higher after a choppy session. At the closing bell, the BSE Sensex finished higher by 74 points. While, the NSE Nifty finished higher by 30 points. Meanwhile, the S&P BSE Midcap Index ended up by 0.2% while S&P BSE Small Cap Index ended down by 0.2%.
Sectoral indices ended the day on a mixed note with information technology stocks and automobile stocks leading the gainers. While, energy stocks and metal stocks ended the day in red.
Overseas, Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.35% and the Hang Seng rose 0.11%. The Nikkei 225 lost 0.47%. European markets are mixed. The FTSE 100 is higher by 0.12%, while the CAC 40 is leading the DAX lower. They are down 0.19% and 0.15% respectively.
The rupee was trading at Rs 65.20 against the US$ in the afternoon session.
In the news from the economy. As per an article in a leading financial daily, the Reserve Bank of India’s (RBI) data on performance of the private corporate sector has showed that India’s manufacturing sector witnessed an improvement in sales growth in the period October-December 2017-18 (Q3) on annual basis.
However net profit has remained subdued due to lack of support from other/non-operating income. It noted that during Q3 of FY18, manufacturing companies’ sales surged by 14% as compared to similar period of the previous fiscal. While net profit of these companies declined by 2.4%.
According to the data, the information technology (IT) sector also registered modest improvement in sales growth, although lower than in the previous year.
Besides, it pointed out that among major manufacturing industries, demand conditions improved for chemical and chemical products; cement and cement products; machinery and machine tools; and motor vehicles and other transport equipment.Further, the services (non-IT) sector showed signs of revival as reflected by positive sales growth.