Key benchmark indices extended gains in morning trade. At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 146.76 points or 0.42% at 35,346.56. The Nifty 50 index was up 34.45 points or 0.32% at 10,634.50.
Stocks drifted higher in early trade as buying resumed in the market after a two-day slide.
Domestic stock markets will remain closed tomorrow, 23 November 2018 on account of Gurunanak Jayanti.
The S&P BSE Mid-Cap index was up 0.16%. The S&P BSE Small-Cap index was up 0.43%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1168 shares rose and 753 shares fell. A total of 102 shares were unchanged.
Overseas, Asian stock markets were trading mixed ahead of the Thanksgiving holiday in the US. US stock indexes ended mostly higher Wednesday, with the S&P and Nasdaq recapturing a small share of the of the ugly losses accumulated Monday and Tuesday, led by the same growth technology stocks which had been a main driver of market's recent woes. US financial markets will be closed Thursday for the Thanksgiving Day holiday and see an early close Friday.
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In US economic data, orders for US-manufactured durable goods fell by 4.4% in October, the largest decline in 15 months. Existing-home sales rose for the first time in six months, at a seasonally adjusted annual rate of 5.22 million in October, up 1.4% from September. The University of Michigan's consumer-sentiment index fell to 97.5 in November from 98.6 in October.
Back home, Yes Bank (up 1.92%), TCS (up 1.78%), Adani Ports and Special Economic Zone (up 1.29%), ONGC (up 1.12%) and ITC(up 0.98%) edged higher from the Sensex pack.
Bharti Airtel (down 1.82%), Power Grid Corporation of India (down 1.26%) and Tata Steel (down 1.06%) edged lower from the Sensex pack.
Deepak Fertilisers & Petrochemicals Corporation rose 3.09% after the company said that the Income tax team has left the company's offices and normal day-to-day business has resumed fully. The company does not anticipate the search and seizure operations to have any materially adverse impact, Deepak Fertilisers and Petrochemicals Corporation said. The announcement was made after market hours yesterday, 21 November 2018.
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