After seeing a bout of initial volatility, key benchmark indices nudged higher in morning trade. At 10:15 IST, the barometer index, the S&P BSE Sensex, was up 99.45 points or 0.39% at 25,618.67. The Nifty 50 index was currently up 28.40 points or 0.37% at 7,790.35. The Sensex rose 104 points or 0.4% at the day's high of 25,623.22 in morning trade. The barometer index fell 105.68 points or 0.41% at the day's low of 25,413.54 at the onset of the trading session, its lowest level since 16 December 2015. The Nifty rose 34.05 points or 0.43% at the day's high of 7,796 in morning trade. The index fell 28.50 points or 0.36% at the day's low of 7,733.45 at the onset of the trading session, its lowest level since 16 December 2015.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,450 shares rose and 549 shares fell. A total of 119 shares were unchanged. The BSE Mid-Cap index was currently up 0.57%. The BSE Small-Cap index was currently up 0.57%. Both these indices outperformed the Sensex.
Bank stocks edged higher on renewed buying. Among private bank stocks, HDFC Bank (up 0.34%), Kotak Mahindra Bank (up 0.36%), ICICI Bank (up 3.32%), Axis Bank (up 1.24%), IndusInd Bank (up 0.53%) and Yes Bank (up 0.22%) rose.
Among PSU bank stocks, State Bank of India (SBI) (up 1.1%), Punjab National Bank (up 0.78%), Bank of Baroda (up 0.06%), Canara Bank (up 0.64%), IDBI Bank (up 3.48%), Bank of India (up 0.89%) and Union Bank of India (up 1.7%) rose.
Metal and mining stocks gained on renewed buying. JSW Steel (up 1.4%), Tata Steel (up 1.43%), Steel Authority of India (Sail) (up 2.63%), National Aluminium Company (up 2.99%), Jindal Steel & Power (up 1.15%), NMDC (up 1.15%) and Hindustan Copper (up 0.82%) edged higher. Hindustan Zinc shed 0.21%.
Vedanta rose 0.71%. Hindalco Industries gained 1.56%. Adani Ports and Special Economic Zone (APSEZ) rose 0.13%. Asian Paints fell 0.71%. APSEZ and Asian Paints replaced Vedanta and Hindalco Industries in Sensex with effect from today, 21 December 2015.
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In overseas stock markets, Asian stocks witnessed a mixed trend. US stocks fell sharply during the previous trading session on Friday, 18 December 2015, amid fears that collapsing oil prices might impact banks with exposure to highly-leveraged energy companies.
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