Key benchmark indices continued to hover near the flat line in early afternoon trade. At 12:15 IST, the barometer index, the S&P BSE Sensex was up 22.16 points or 0.08% at 26,249.78. The Nifty 50 index was currently up 13.95 points or 0.17% at 8,093.90.
The Sensex rose 55.74 points or 0.21% at the day's high of 26,283.36 in mid-morning trade. The barometer index lost 109.80 points or 0.41% at the day's low of 26,117.82 in early trade, its lowest level since 9 November 2016. The Nifty rose 24.70 points or 0.3% at the day's high of 8,104.65 at the onset of trading session. The index lost 31.65 points or 0.39% at the day's low of 8,048.30 in early trade, its lowest level since 9 November 2016.
In overseas stock markets, Asian stocks witnessed a mixed trend. US stocks registered modest gains yesterday, 17 November 2016, as investors parsed through economic data and Federal Reserve Chair Janet Yellen's testimony. Yellen has stressed the importance of central bank independence in her first public remarks after Donald Trump's election victory as new data showed the president-elect will inherit a strengthening economy. The Federal Reserve chair told a congressional hearing yesterday, 17 November 2016 that an increase in short-term interest rates could become appropriate relatively soon, raising expectations of a rise at the Fed's next meeting in December.
Closer home, the market breadth indicating the overall health of the market turned positive from negative in early afternoon trade. On BSE, 1,150 shares rose and 1,122 shares declined. A total of 124 shares were unchanged. The BSE Mid-Cap index was currently up 0.52%, outperforming the Sensex. The BSE Small-Cap index was currently up 0.04%, underperforming the Sensex.
IT stocks were mixed. HCL Technologies (up 1.68%), Oracle Financial Services Software (up 0.54%) and Tech Mahindra (up 0.52%) edged higher. Wipro (down 0.77%) and Infosys (down 0.12%) edged lower.
IT major TCS was down 1%. The company's board of directors at a meeting held yesterday, 17 November 2016, decided to convene an extraordinary general meeting (EGM) pursuant to the special notice & requisition dated 9 November 2016 sent by Tata Sons, shareholder of the company holding 73.26% of the paid-up equity share capital of the company, to consider and if thought fit, to pass a resolution for removal of C. P. Mistry as Director of the company. The EGM will be held on 13 December 2016. The announcement was made after market hours yesterday, 17 November 2016.
Auto stocks headed north. Hero MotoCorp (up 1.5%), Eicher Motors (up 1.45%), Mahindra & Mahindra (up 1.43%), Ashok Leyland (up 0.57%), Bajaj Auto (up 0.75%), Maruti Suzuki India (up 0.39%) and TVS Motor Company (up 0.15%) edged higher. Tata Motors (down 0.85%) edged lower.
Also Read
Dilip Buildcon gained 1.61% after the company announced that Northern Coalfields, Madhya Pradesh has declared DBL-DECO, a joint venture of the company as the successful L1 bidder for excavation and re-handling project at NIGAHI OCP of NCL at a project cost of Rs 1469.84 crore. The announcement was made before market hours today, 18 November 2016.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content