Key equity benchmarks held firm at higher levels in mid-afternoon trade. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 239.71 points or 0.67% at 35,889.65. The Nifty 50 index was up 83 points or 0.77% at 10,812.85. The sentiment was strong amid positive global cues.
The Nifty was trading above 10,800 mark after opening above that level. The Sensex was trading below 36,000 mark after opening above that level.
The key indices jumped at opening trades and advanced further. However, the indices came off day's high in morning trade as profit selling emerged at higher levels. The indices firmed up once again in mid-morning trade amid fresh buying support. Benchmarks turned range bound in early afternoon trade. Indices held firm at higher levels in mid-afternoon trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.50%. The BSE Small-Cap index was up 0.54%.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1449 shares rose and 987 shares fell. A total of 166 shares were unchanged.
Realty shares were mixed. Mahindra Lifespace Developers (up 3.04%), Oberoi Realty (up 1.81%), Unitech (up 1%), Prestige Estates Projects (up 0.66%), DLF (up 0.59%), D B Realty (up 0.39%), Peninsula Land (up 0.38%) and Phoenix Mills (up 0.13%), edged higher. Sobha (down 0.12%), Anant Raj (down 0.14%), Parsvnath Developers (down 0.14%), Housing Development and Infrastructure (HDIL) (down 0.22%), Omaxe (down 0.51%), Godrej Properties (down 0.82%), Sunteck Realty (down 0.89%) and Indiabulls Real Estate (down 0.96%), edged lower.
Most power generation stocks advanced. Reliance Power (up 3.62%), Tata Power (up 1.91%), Torrent Power (up 1.7%), Adani Power (up 1.48%), GMR Infrastructure (up 0.93%), CESC (up 0.87%), JSW Energy (up 0.37%) and Reliance Infrastructure (up 0.3%), edged higher. NHPC (down 0.19%), NTPC (down 0.31%) and Jaiprakash Power Ventures (down 0.49%), edged lower.
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State-run Coal India was down 0.22%. State-run Power Grid Corporation of India was down 0.66%.
Meanwhile, the Reserve Bank of India (RBI) on Wednesday constituted an expert committee to review the extant economic capital framework of the central bank. The committee will be headed by Bimal Jalan, former RBI governor, while Rakesh Mohan, former deputy governor and former DEA (Department of Economic Affairs) secretary, is the vice chairman of the committee.
Overseas, most shares in Europe and Asia were higher Thursday after US stocks saw their best performance in almost a decade on Wednesday.
In US, the Dow logged a 1,000-point gain as equities roared back from oversold conditions. Shoppers delivered the strongest holiday sales increase for US retailers in six years, according to Mastercard Spending Pulse, which tracks online and in-store spending with all forms of payment.
On the US data front, the Case-Shiller 20-city price index rose a seasonally adjusted 0.4% in October, while the year-over-year advance fell to 5% from a revised 5.2% in September.
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