Key benchmark indices traded with modest gains in early trade as firmness in Asian stocks boosted sentiment. At 9:30 IST, the barometer index, the S&P BSE Sensex rose 132.01 points or 0.42% at 31,414.49. The Nifty 50 index gained 50.10 points or 0.51% at 9,819.05.
The S&P BSE Mid-Cap index rose 0.83%. The S&P BSE Small-Cap index gained 0.81%. Both these indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was strong. On the BSE, 902 shares rose and 218 shares fell. A total of 28 shares were unchanged.
Asian Paints (up 1.02%), Coal India (up 0.97%) and ICICI Bank (up 0.87%) gained from the Sensex pack.
Infosys gained 0.44% after the company announced that Mediterranean Bank, one of the leading Maltese banks, has gone live on the Finacle Lending Module. The bank has replaced its existing lending solution with Finacle to provide a unified, consistent platform for its corporate customers. Infosys Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned subsidiary of Infosys. The announcement was made after market hours yesterday, 28 September 2017.
NTPC declined 0.09%. The company said it will start commercial operations of 500 megawatts (MW) unit at Feroze Gandhi Uchahar Thermal Power Station from 30 September 2017. With this, the commercial capacity of NTPC would become 43392 MW and that of NTPC Group would become 50608 MW. The announcement was made afteer market hours yesterday, 28 September 2017.
Overseas, most Asian stocks gained on advances in US stocks overnight. Japanese industrial production rose in August, government data showed. Industrial output increased 2.1% on month, according to the Ministry of Economy, Trade and Industry. Japanese consumer prices rose for an eighth straight month and at a faster pace in August. The core consumer price index in August rose 0.7% from a year earlier, compared with a 0.5% increase in July
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US stock benchmarks posted slight gains yesterday, 28 September 2017, as the Trump administration's tax-overhaul proposal continued to fuel some buying appetite for equities.
The latest economic data painted a mixed picture of the economy. Jobless claims rose by 12,000 in the latest week, although this spike was tied to Hurricanes Irma and Harvey, which devastated Florida and parts of Texas. Separately, a read on second-quarter economic growth was raised to 3.1% from 3%.
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