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Key equity barometers were trading near day's high, backed by firmness in index pivotals. At 12:20 IST, the barometer index, the S&P BSE Sensex, was up 262.77 points or 0.72% at 36,879.58. The Nifty 50 index was up 82.40 points or 0.75% at 11,016.75. The Nifty was trading above the psychologically important 11,000 mark after crossing that level in early trade.

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 0.33%. The BSE Small-Cap index was down 0.21%.

The market breadth, indicating the overall health of the market, was weak. On BSE, 790 shares rose and 1459 shares fell. A total of 132 shares were unchanged.

Among index pivotals, Reliance Industries (up 1.60%), ICICI Bank (up 2.06%), TCS (up 1.02%), HDFC (up 0.57%) and ITC (up 0.60%), edged higher.

IT major Infosys was up 0.76% at Rs 760. The stock hit a 52-week high of Rs 766.15 in intraday today.

Zee Entertainment Enterprises jumped 6.46% to Rs 388.90.

Pizza chain operator Jubilant FoodWorks fell 4.13% at Rs 1,249.40. The company clarified after market hours yesterday, 5 February 2019, that Jubilant Enpro (a promoter group company), has decided not to charge the corporate brand royalty of 0.25% of the consolidated revenues of the company and the same stands withdrawn.

Tech Mahindra surged 6.03% after consolidated profit after tax rose 13% to Rs 1203 crore on 3.6% rise in revenue to Rs 8944 crore in Q3 December 2018 over Q2 September 2018. The result was announced at fag end of the day's trading session yesterday, 5 February 2019, when the stock rose 0.08% to settle at Rs 750.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 6.4% to Rs 1723 crore in Q3 December 2018 over Q2 September 2018. C P Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra said the Q3 December 2018 has been impressive on all fronts, delivering steady growth in Enterprise and Communications business along with margin expansion.

Auto shares were mixed. Bajaj Auto (up 1.57%), Eicher Motors (up 0.76%), Hero MotoCorp (up 0.37%), Mahindra & Mahindra (up 0.30%) and Maruti Suzuki India (up 0.20%), edged higher. Ashok Leyland (down 0.43%), Tata Motors (down 0.51%), Escorts (down 1.18%) and TVS Motor Company (down 1.76%), edged lower.

Private sector banks were mixed. Federal Bank (down 2.07%), IndusInd Bank (down 1.16%), City Union Bank (down 0.37%), Axis Bank (down 0.29%) and RBL Bank (down 0.28%), edged lower. Yes Bank (up 0.09%), HDFC Bank (up 0.16%), Kotak Mahindra Bank (up 0.33%) and ICICI Bank (up 2.13%), edged higher.

Most public sector banks declined. IDBI Bank (down 4.14%), United Bank of India (down 3.7%), Allahabad Bank (down 2.22%), Punjab & Sind Bank (down 2.04%), Bank of India (down 1.43%), Syndicate Bank (down 1.4%), Indian Bank (down 1.05%), Union Bank of India (down 0.96%), UCO Bank (down 0.84%), Canara Bank (down 0.71%), Vijaya Bank (down 0.59%), Andhra Bank (down 0.41%), Corporation Bank (down 0.4%), Dena Bank (down 0.34%) and Bank of Baroda (down 0.14%), edged lower. Punjab National Bank (up 0.2%), State Bank of India (up 0.28%), Central Bank of India (up 0.34%) and Bank of Maharashtra (up 0.44%), edged higher.

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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