Key benchmark indices continued to trade firm in positive zone in afternoon trade. At 13:17 IST, the barometer index, the S&P BSE Sensex, was up 301.43 points or 1.17% at 26,161.60. The gains of the Nifty 50 index were higher than the Sensex's gains in percentage terms. The Nifty was currently up 108.85 points or 1.37% at 8,074.35. The Sensex was currently hovering well above the psychological 26,000 mark after regaining that mark earlier in the day. The Nifty also was hovering decently above the psychological 8,000 level after reclaiming that mark earlier in the day. Firmness in Asian stocks boosted sentiment on the domestic bourses.
The Sensex gained 333.12 points or 1.28% at the day's high of 26,193.29 in early afternoon trade, its highest level since 21 November 2016. The barometer index rose 14.28 points or 0.05% at the day's low of 25,874.45 in early trade. The Nifty gained 117.45 points or 1.47% at the day's high of 8,082.95 in early afternoon trade, its highest level since 21 November 2016. The index rose 11.25 points or 0.14% at the day's low of 7,976.75 in early trade.
In overseas stock markets, Asian stocks gained as the Thanksgiving break in the United States pegged the dollar's relentless surge that had sucked capital out of most emerging markets. US markets remained closed yesterday, 24 November 2016, on Thanksgiving holiday and trading will end early today, 25 November 2016 there.
Closer home, the broad market depicted strength. There were more than three gainers against every loser on BSE. 1,863 shares rose and 545 shares fell. A total of 163 shares were unchanged. The BSE Mid-Cap index was currently up 1.05%, underperforming the Sensex. The BSE Small-Cap index was currently up 1.55%, outperforming the Sensex.
Telecom stocks were mixed. Idea Cellular (up 2.23%) and Reliance Communications (up 1.59%) edged higher. Bharti Airtel (down 0.27%) edged lower.
Bharti Infratel was down 0.37%. Bharti Infratel is a telecom tower arm of Bharti Airtel.
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Cement stocks gained. Ambuja Cements (up 0.7%), UltraTech Cement (up 0.51%) and Shree Cement (up 1.83%) edged higher. ACC (down 1.24%) edged lower.
Grasim Industries was up 1.3%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
LT Foods rose 1.91%, extending yesterday's 2.43% rise triggered by the company entering into a joint venture with a Japanese firm. The announcement was made during trading hours yesterday, 24 November 2016. Shares of LT Foods rose 2.43% to settle at Rs 257 on that day. The stock has risen 4.76% in two sessions from its close of Rs 250.90 on 23 November 2016. LT Foods, a global specialty foods company with leading consumer brands including 'Daawat', 'Royal', 'Devaaya' among others in India as well as US, entered into a joint venture (JV) with Kameda Seika of Japan to manufacture and market rice based snacks in India. The JV will start manufacturing the snack range in Sonepat (Haryana) later in the next financial year. The JV will become pioneer in the rice based snack food category.
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