Key indices firmed up further and hit fresh intraday high in mid-afternoon trade. The Nifty crossed 11,550 level. At 14:22 IST, the barometer index, the S&P BSE Sensex, was up 359.53 points or 0.93% at 38,958.52. The Nifty 50 index was up 87.25 points or 0.76% at 11,551.25.
In the broader market, the S&P BSE Mid-Cap index was up 1.17%. The S&P BSE Small-Cap index was up 0.65%. Both these indices outperformed the Sensex.
The market breadth favored the bulls. On the BSE, 1247 shares rose and 1098 shares fell and a total of 191 shares remained unchanged. In Nifty 50 index, 30 stocks advanced while 20 stocks declined.
Force Motors was down 0.69%, reversing early gains after weak Q2 outcome. On consolidated basis, company's net profit dropped 89.41% to Rs 4.21 crore in Q2 September 2019 over Q2 September 2018. The company's revenue from operation dropped 14.08% to Rs 755.15 crore on YoY basis.
PVR was up 0.41%. On consolidated basis, net profit jumped 34.7% higher to Rs 47.67 crore in Q2 September 2019 as compared to Q2 September 2018. Total income rose 37.05% to Rs 979.40 crore on YoY basis.
IT firm Mastek was down 5.72%. Consolidated net profit rose 1.73% to Rs 24.64 crore on QoQ basis. The company's revenue from operations declined 1.6% to Rs 243.60 during the said period.
Meanwhile, the yield on 10-year benchmark federal paper rose to 6.790% at 14:10 IST compared with 6.656% in the previous trading session.
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In the foreign exchange market, the partially convertible rupee edged higher and was hovering at 71.265, compared with its close of 71.430, during the previous trading session.
In the commodities market, Brent crude for December 2019 settlement was down 34 cents at $59.08 a barrel. The contract rose 1.16% to settle at $59.42 a barrel during the previous trading session.
MCX Gold futures for 5 December 2019 settlement edged 0.28% lower to Rs 38,112.
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