Key benchmark indices partially recovered intraday gains in mid-afternoon trade tracking positive opening on the European bourses. At 14:19 IST, the barometer index, the S&P BSE Sensex advanced 151.12 points or 0.45% at 33,401.42. The Nifty 50 index rose 40.10 points or 0.39% at 10,305.75.
Key indices started the session on a firm note on positive Asian stocks after stronger finish on the Wall Street fueled by stronger-than-expected jobs report. Indices traded with modest gains in morning trade before trimming gains in mid-morning trade. Indices hovered with small gains till afternoon trade.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.39%. The S&P BSE Small-Cap index advanced 0.37%. Both the indices underperformed the Sensex.
Overseas, European stocks advanced in early trade ahead of upcoming ECB and Federal Reserve meetings. Asian stocks edged higher following strong finish on the Wall Street on Friday. China's consumer inflation slowed more than expected in November and factory prices decelerated sharply, official data showed Saturday, 9 December 2017. The consumer price index (CPI) a main gauge of inflation rose by 1.7% in November from a year ago, compared to a 1.9% increase the previous month and 1.6% in September, said the National Bureau of Statistics.
US equities closed higher on Friday, 8 December 2017, following the release of a stronger-than-expected jobs report. The US economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. The unemployment rate held steady at 4.1%.
Closer home, the breadth, indicating the overall health of the market, was positive. On the BSE, 1,465 shares rose and 1,181 shares declined. A total of 149 shares were unchanged.
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Capital goods stocks were mixed. Thermax (up 4.4%), ABB India (up 2.35%), Havells India (up 0.34%), Siemens (up 0.22%) and BEML (up 0.03%) edged higher. GE T&D India (down 0.94%), Bharat Electronics (down 0.73%), Bhel (down 0.27%) and L&T (down 0.01%) declined.
Gas utility stocks dropped. Gujarat State Petronet (down 1.4%), Gujarat Gas (down 0.9%), Petronet LNG (down 0.6%) and GAIL (India) (down 0.08%) declined. Indraprastha Gas (up 0.31%) nudged higher.
Among other news, Gujarat recorded a polling of 68% in the first phase of assembly elections for 89 assembly constituencies held on Saturday, 9 December 2017. The second phase polling will take place on 14 December 2017 in 93 assembly constituencies. Counting of votes will take place on 18 December 2017. The Gujarat assembly has 182 seats.
The provisional figures of direct tax collections up to November, 2017 showed that net collections are at Rs 4.8 lakh crore which is 14.4% higher than the net collections for the corresponding period of last year. The net direct tax collections represent 49% of the total Budget Estimates of direct taxes for the FY 2018, according to the data released by the government on Sunday, 10 December 2017.
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