Key benchmark indices continued to trade firm in positive zone in mid-morning trade after a higher opening triggered by positive global cues. At 11:18 IST, the barometer index, the S&P BSE Sensex, was up 135.86 points or 0.51% at 27,035.42. The Nifty 50 index was up 49.50 points or 0.6% at 8,338.10. The Sensex was currently hovering above the psychological 27,000 level after crossing that level in early trade. The BSE Mid-Cap index was up 0.84%. The BSE Small-Cap index was up 0.76%. Both these indices outperformed the Sensex.
Overseas, Asian stock indices edged higher tracking mostly positive closing on the Wall Street overnight. US equities closed higher yesterday, 10 January 2017, as the Nasdaq composite notched a fresh record high.
Closer home, broad market depicted strength. There were more than two gainers against every loser on the BSE. 1,545 shares rose and 767 shares declined. A total of 134 shares were unchanged.
Realty stocks nudged higher. Unitech (up 1.1%), Indiabulls Real Estate (up 1.06%), D B Realty (up 1.05%), Godrej Properties (up 0.82%), Housing Development and Infrastructure (up 0.71%) and Oberoi Realty (up 0.52%) advanced. Sobha (down 1.12%) and Prestige Estates Projects (down 0.31%) edged lower. DLF was unchanged at Rs 125.40.
Auto stocks were mixed. Ashok Leyland (up 1.06%), Maruti Suzuki India (up 0.9%) and Mahindra & Mahindra (up 0.46%) edged higher. Bajaj Auto (down 0.84%), Hero MotoCorp (down 0.43%), TVS Motor Company (down 0.26%) and Eicher Motors (down 0.05%) edged lower.
Tata Motors rose 0.65% after the company said the Tata Motors Group global wholesales rose 4% to 95,081 units in December 2016 over December 2015. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range fell 5% to 30,879 units in December 2016 over December 2015. Global wholesales of all passenger vehicles rose 8% to 64,202 units in December 2016 over December 2015.
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Global wholesales for Jaguar Land Rover (JLR) were 53,063 vehicles (contains CJLR volume of 8,184 units for the month of December 2016). Jaguar wholesales for the month were 15,879 vehicles, while Land Rover wholesales for the month were 37,184 vehicles. The announcement was made after market hours yesterday, 10 January 2017.
IndusInd Bank rose 4.27% at Rs 1,211.50, with the stock extending previous trading session's gains triggered by the bank reporting strong Q3 results. Net profit rose 29.19% to Rs 750.64 crore on 22.86% growth in total income to Rs 4716.13 crore in Q3 December 2016 over Q3 December 2015. The result was announced at the fag end of market hours yesterday, 10 January 2017. The stock had risen 0.19% to settle at Rs 1,161.85 yesterday, 10 January 2017.
Hind Rectifiers surged 7.71% after the company said that a meeting of the board of directors of the company is scheduled on 15 January 2017 to consider, in principle, the issue of equity shares on a right basis to the existing equity shareholders of the company. The announcement was made after market hours yesterday, 10 January 2017.
Somany Ceramics gained 5.07% after the company issued commercial paper worth Rs 15 crore, dated 10 January 2017 and having maturity on 24 March 2017 to reduce its cost of borrowing. The announcement was made after market hours yesterday, 10 January 2017.
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