Key benchmark indices hit fresh intraday high in morning trade. At 10:16 IST, the barometer index, the S&P BSE Sensex, was up 141.43 points or 0.47% at 30,084.67. The Nifty 50 index was currently up 36.35 points or 0.39% at 9,342.95. The Sensex crossed the psychologically important 30,000 mark. The Sensex and the Nifty, both, hit their record high levels in morning trade. Positive global cues boosted market sentiment.
The Sensex rose 146.50 points, or 0.49% at the day's high of 30,089.74 in morning trade, its record high level. The index rose 61.04 points, or 0.20% at the day's low of 30,004.28 in early trade. The Nifty rose 41.05 points, or 0.44% at the day's high of 9,347.65 in morning trade, its record high level. The index fell 5.25 points, or 0.06% at the day's low of 9,301.35 in early trade.
Among secondary barometers, the BSE Mid-Cap index was currently up 0.30%, underperforming the Sensex. The BSE Small-Cap index was currently up 0.55%, outperforming the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,396 shares rose and 892 shares fell. A total of 103 shares were unchanged.
Metal shares edged higher. Hindalco Industries (up 2.84%), JSW Steel (up 2.34%), Steel Authority of India (up 1.07%), Hindustan Copper (up 0.91%), Tata Steel (up 0.82%), Jindal Steel & Power (up 0.75%), Vedanta (up 0.59%), Hindustan Zinc (up 0.37%), National Aluminium Company (up 0.37%) and Bhushan Steel (up 0.33%), edged higher. NMDC was down 0.27%.
Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for July 2017 delivery was currently up 0.21% at $2.5965 per pound on the COMEX.
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IT shares were mixed. MindTree (up 1%), Persistent Systems (up 0.74%), Hexaware Technologies (up 0.56%), TCS (up 0.38%) and MphasiS (up 0.36%), edged higher. Oracle Financial Services Software (down 0.06%), HCL Technologies (down 0.28%), Infosys (down 0.43%) and Tech Mahindra (down 0.55%), edged lower.
IT major Wipro was up 2.18% to Rs 505.35 after the company's consolidated net profit rose 7.2% to Rs 2267 crore on 4.86% rise in total income to Rs 15033.80 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours yesterday, 25 April 2017.
In its outlook, Wipro expects revenues from its IT services business to be in the range of $1915 million to $1955 million for the Q1 June 2017. Wipro's board recommended 1:1 bonus issue of shares.
Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board said that the company is confident that the recovery in energy and utilities and demonstrated strength in digital will help improve growth trajectory during the course of the current financial year.
Overseas, Asian indices traded higher following the rise in US stocks on the back of strong earnings announcements and on expectations for US President Donald Trump's impending tax reforms. In the US, stocks soared as McDonald's and Caterpillar reported strong earnings, with the Nasdaq surpassing the 6,000 mark for the first time. The Dow Jones industrial average surged 1.12% to close at 20,996.12.
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