Key indices held firm at higher levels as positive global cues boosted sentiment. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 152.39 points or 0.45% at 34,122.03. The Nifty 50 index was up 43.85 points or 0.42% at 10,548.65. The Sensex was trading above the psychological 34,000 mark after opening above that level.
Key benchmark indices opened higher and hit fresh intraday high in morning trade. Key indices hovered in a narrow range in positive terrain so far.
Among secondary barometers, the BSE Mid-Cap index was up 0.71%. The BSE Small-Cap index was up 0.91%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,739 shares rose and 1,114 shares fell. A total of 131 shares were unchanged.
Most power generation stocks rose. Adani Power (up 5.66%), Jaiprakash Power Ventures (up 2.08%), Reliance Infrastructure (up 1.85%), JSW Energy (up 1.05%), Reliance Power (up 0.77%), GMR Infrastructure (up 0.47%), Tata Power (up 0.20%) and NTPC (up 0.08%), edged higher. Torrent Power (down 0.39%), CESC (down 0.59%) and NHPC (down 1.33%), edged lower.
State-run Coal India was up 0.38%. State-run Power Grid Corporation of India was up 0.22%.
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Auto shares were in demand. Eicher Motors (up 2.02%), Escorts (up 1.30%), Tata Motors (up 1.01%), Maruti Suzuki India (up 0.75%), Bajaj Auto (up 0.52%), TVS Motor Company (up 0.42%), Mahindra & Mahindra (up 0.36%) and Hero MotoCorp (up 0.09%), edged higher. Ashok Leyland was down 0.31%.
Pharma major Lupin was up 2.81% at Rs 902.15. The company announced the launch of its Flucytosine capsules USP, 250 mg and 500 mg having received an approval from the United States Food and Drug Administration (FDA) earlier. Novel's Flucytosine Capsules USP, 250 mg and 500 mg are AB rated generic equivalent of Valeant Pharmaceuticals International Inc's ANCOBON Capsules, 250 mg and 500 mg. Flucytosine Capsules USP, 250 mg and 500 mg are indicated for the treatment of serious infections caused by susceptible strains of Candida and/or Cryptococcus. Flucytosine Capsules USP, 250 mg and 500 mg had annual sales of approximately $48 million in the US. (IMS MAT October 2017). ANCOBON is the registered trademark of Valeant Pharmaceuticals North America LLC. The announcement was made during market hours today, 5 January 2018.
Ahluwalia Contracts (India) gained 4.36% after the company secured new orders totaling around Rs 395.21 crore for construction of institutional, & commercial including electrical, plumbing & firefighting services. The announcement was made during market hours today, 5 January 2018.
Overseas, European markets were trading higher as investors await a fresh batch of economic data.
Most Asian shares rose as US jobs data pointed to firm economic growth. US stock indices closed at all-time highs on Thursday, while the Dow topped the 25,000 milestone for the first time. The Dow Jones Industrial Average rose 0.6% to finish at 25,075.13. The S&P 500 rose 0.4%. The Nasdaq Composite Index gained 0.2%.
The US ADP National Employment Report on Thursday showed US private employers added 250,000 jobs in December, the biggest monthly increase since March. Meanwhile, initial jobless claims, a tool to measure layoffs, rose 3,000 to 250,000 in the seven days ended 30 December 2017, the Labor Department said Thursday. The number of people already collecting unemployment benefits, known as continuing claims, fell 37,000 to 1.91 million.
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