Trading for the session started on a positive note as key indices traded with modest gains in early trade tracking firm Asian stocks. At 9:18 IST, the barometer index, the S&P BSE Sensex advanced 127.57 points or 0.38% at 33,487.47. The Nifty 50 index rose 34.85 points or 0.34% at 10,333.60. Realty and metal stocks led initial gains on the bourses.
The S&P BSE Mid-Cap index rose 0.41%. The S&P BSE Small-Cap index advanced 0.6%. Both these indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was very strong. On BSE, 1,159 shares rose and 366 shares declined. A total of 46 shares were unchanged.
Cipla (up 1.31%), Tata Steel (up 1.04%) and NTPC (up 1%) gained from the Sensex pack.
Reliance Industries (RIL) rose 1.69% after the company said that on 20 November 2017, the company successfully priced 10 year fixed rate senior unsecured notes for an aggregate amount of $800 million. The company will use the proceeds of the issue to redeem its $800 million 5.875% existing senior perpetual unsecured notes pursuant to the terms of such notes. The announcement was made before market hours today, 21 November 2017.
Overseas, Asian stocks gained as investors took heart from further evidence of strength in the global economy. US stock market closed higher yesterday, 20 November 2017, as investors continued to focus on corporate earnings and prospects for tax cuts. The leading economic index surged 1.2% in October and suggested no letup in a steadily growing US economy with the end of the year fast approaching.
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