Key benchmark indices extended gains and hit fresh intraday high in afternoon trade as European stocks rose in early trade there. The S&P BSE Sensex and the CNX Nifty hit their highest levels in 3-1/2 weeks. The market breadth indicating the overall health of the market was strong. The barometer index, the S&P BSE Sensex, was currently up 111.07 points or 0.4% at 27,798.37.
Index heavyweight and software major Infosys advanced. Bank stocks were in demand on renewed buying. Realty stocks edged higher.
Foreign portfolio investors sold shares worth a net Rs 202.12 crore yesterday, 18 May 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 618.54 crore yesterday, 18 May 2015, as per provisional data released by the stock exchanges.
In overseas markets, European stocks edged higher amid expectations of a new aid deal for debt-laden Greece as early as next week. Chinese shares rose on signs of fresh investment from Beijing. US stocks edged higher yesterday, 18 May 2015, as both the Dow industrials and the S&P 500 reached all-time highs.
At 13:15 IST, the S&P BSE Sensex was up 111.07 points or 0.4% at 27,798.37. The index rose 128.80 points at the day's high of 27,816.10 in afternoon trade, its highest level since 24 April 2015. The index fell 109.63 points at the day's low of 27,577.67 in morning trade.
The CNX Nifty was up 33.40 points or 0.4% at 8,407.05. The index hit a high of 8,411.95 in intraday trade, its highest level since 24 April 2015. The index hit a low of 8,335.20 in intraday trade.
Also Read
The BSE Mid-Cap index was up 54.42 points or 0.51% at 10,721.49. The BSE Small-Cap index was up 95.61 points or 0.86% at 11,243.53. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was strong. On BSE, 1,483 shares rose and 970 shares fell. A total of 114 shares were unchanged.
The total turnover on BSE amounted to Rs 2206 crore by 13:15 IST.
Index heavyweight and software major Infosys advanced 2.01% to Rs 2,032.50. The stock hit high of Rs 2,032.70 and low of Rs 1,984.40 so far during the day.
Bank stocks were in demand on renewed buying. Among private bank stocks, HDFC Bank (up 0.48%), IndusInd Bank (up 0.89%), Kotak Mahindra Bank (up 1.43%), Federal Bank (up 2.16%), Axis Bank (up 0.26%), Yes Bank (up 1.13%), and ICICI Bank (up 0.54%) gained.
Among PSU bank stocks, Indian Overseas Bank (up 2.06%), State Bank of India (SBI) (up 0.26%), Punjab National Bank (up 0.4%), Bank of Baroda (up 0.06%), Canara Bank (up 0.47%), Bank of India (up 1.06%) and Union Bank of India (up 1.24%) rose.
Realty stocks edged higher. DLF (up 1.47%), Housing Development and Infrastructure (up 1.23%), D B Realty (up 1.36%), Unitech (up 2.46%), Sobha (up 0.69%), Godrej Properties (up 1.15%), Oberoi Realty (up 0.28%) and Parsvnath Developers (up 2.41%) gained. Indiabulls Real Estate fell 0.52%.
In overseas markets, European stocks edged higher amid expectations of a new aid deal for debt-laden Greece as early as next week. Key benchmark indices in UK, France and Germany were up 0.44% to 1.75%.
In an interview yesterday, 18 May 2015 on Greek television, Finance Minister Yanis Varoufakis reportedly said that a bailout agreement with creditors is expected in about a week, which would help the cash-strapped country meet debt repayments due next month.
Chinese stocks led gains in Asian stocks. Key benchmark indices in Japan, Indonesia, South Korea and Taiwan were up by 0.15% to 1.15%. Singapore's Straits Times was off 0.17%.
Chinese shares edged higher on signs of fresh investment from Beijing. In mainland China, the Shanghai Composite index was up 3.13%. Hong Kong's Hang Seng index was up 0.4%. China yesterday, 18 May 2015, approved a batch of railway projects and said it would speed up reform in the finance sector. China's state-planning agency approved six rail projects with a total investment of 243.8 billion yuan ($39.3 billion).
Meanwhile, China's State Council yesterday, 18 May 2015, released guidelines on capital-market reform priorities, touching on areas such as the Shenzhen-Hong Kong Stock Connect and further liberalizing interest rate and boosting the yuan's global status.
US stocks edged higher yesterday, 18 May 2015, as both the Dow industrials and the S&P 500 reached all-time highs. At the closing bell, the Dow Jones Industrial Average gained 26 points, or 0.1%, to 18,299, a new closing peak. The S&P 500 index rose 6 points, or 0.3%, to 2,129, its ninth record close of the year. The Nasdaq Composite Index gained 30 points, or 0.6%, to 5,078, still shy of its 24 April record of 5,092.
Investors will get a closer look at the US Federal Reserve's thoughts about interest rates and economic data when the minutes of the Federal Open Market Committee meeting from its meeting held in late April 2015 are released tomorrow, 20 May 2015.
Powered by Capital Market - Live News