Key benchmark indices continued to extend gains and hit fresh intraday high in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was up 286.77 points or 0.85% at 34,106.27. The Nifty 50 index was up 97.75 points or 0.94% at 10,480.45. The Sensex regained psychological 34,000-mark. Domestic stocks were boosted by positive Asian stocks.
The market edged higher in early trade tracking positive Asian stocks. Key indices hovered in positive zone in morning trade. Indices extended gains later during the session so far.
The S&P BSE Mid-Cap index was up 1.16%. The S&P BSE Small-Cap index was up 1.2%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,802 shares rose and 765 shares fell. A total of 130 shares were unchanged.
IT stocks extended recent gains. Wipro was up 0.48%, TCS 0.71%, Tech Mahindra 1.88%, Hexaware Technologies 0.51% and Mphasis rose 0.59%. However, Infosys declined 0.04%.
HCL Technologies (HCL) gained 2.75% after the company announced a fully configurable, high-throughput backhaul modem running on Xilinx All Programmable Zynq UltraScale+ MPSoC devices. The solution targets 5G access and mobile backhaul markets and will enable telecom OEMs to meet the stringent requirements of nextgeneration networks. The announcement was made during market hours today, 23 February 2018.
Pharma shares also gained. Sun Pharmaceutical Industries was up 3.5%, Alkem Laboratories 0.34%, GlaxoSmithKline Pharmaceuticals 1.26%, Aurobindo Pharma 3.04%, Wockhardt 2.15%, Glenmark Pharmaceuticals 1.26%, Dr Reddy's Laboratories 2.72%, Cadila Healthcare 1.21%, Cipla 1.46% and Lupin rose 1.07%.
More From This Section
Overseas, Asian stocks rose as investors continue to debate the outlook for central bank policy normalization and the impact of higher bond yields. Meanwhile, Japan's core consumer price index rose for a 13th straight month in January, increasing by 0.9% from a year earlier, matching December's rate of growth, data from the Ministry of Internal Affairs and Communications showed today, 23 February 2018.
In US, the Dow and the S&P 500 closed higher while the Nasdaq slipped yesterday, 22 February 2018 as investors grappled with the threat from higher interest rates. On the data front, initial US jobless claims fell by 7,000 to 222,000 in the seven days ended 17 February 2018, marking the second lowest level since the end of the 2007-2009 recession.
Trading of US index futures indicated that the Dow could jump 172 points at the open today, 23 February 2018.
Powered by Capital Market - Live News