Buying continued unabated as key benchmark indices hit fresh intraday high in mid-afternoon trade. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 212.24 points or 0.67% at 32,094.40. The Nifty 50 index was up 62.35 points or 0.62% at 10,068.40. Positive global cues boosted investors' sentiment on the domestic bourses.
The Sensex was currently trading above the psychologically important 32,000 mark. The Nifty was currently trading above the psychologically important 10,000 mark. The Sensex and the Nifty, both, hit their highest levels in more than one month. The Sensex rose 257.05 points, or 0.81% at the day's high of 32,139.21 in mid-afternoon trade, its highest level since 8 August 2017. The index rose 68.08 points, or 0.21% at the day's low of 31,950.24 in morning trade. The Nifty rose 67.25 points, or 0.67% at the day's high of 10,073.30 in mid-afternoon trade, its highest level since 8 August 2017. The index rose 22 points, or 0.22% at the day's low of 10,028.05 in morning trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.83%. The BSE Small-Cap index was up 0.93%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,409 shares rose and 1,114 shares fell. A total of 150 shares were unchanged.
Most auto shares rose. Escorts (up 2.86%), Tata Motors (up 1.80%), Mahindra & Mahindra (up 1.48%), TVS Motor Company (up 0.56%), Ashok Leyland (up 0.52%), Maruti Suzuki India (up 0.28%) and Eicher Motors (up 0.12%), edged higher. Bajaj Auto (down 0.34%) and Hero MotoCorp (down 0.73%), edged lower.
Most telecom shares rose. MTNL (up 4.52%), Reliance Communications (up 2.93%), Idea Cellular (up 0.76%) and Bharti Airtel (up 0.07%), edged higher. Tata Teleservices (Maharashtra) was down 0.88%.
Telecom tower infrastructure provider Bharti Infratel was up 0.14%.
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NBCC (India) was up 2.91% to Rs 214. The company announced during trading hours today, 12 September 2017, that it received contract as project management consultant for canal work for Gosikhurd national project. The company will also work as project management consultant for redevelopment of ITPO complex into integrated exhibition-cum-convention centre at New Delhi. The company will get project management consultancy fee on the project cost at 6.50% and revenue booking from the projects will start from September 2017.
Overseas, most European stocks were trading higher after stocks in Asia and in the US hit new record highs as worries about Hurricane Irma and North Korea's nuclear standoff eased.
US stocks closed sharply higher on Monday, as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, helping to lure investors into buying assets perceived as risky like equities. The Dow Jones Industrial Average closed about 259.58 points, or 1.2%, higher at 22,057.37, while the S&P 500 index climbed 1.1% at 2,488.11, marking a fresh record for the broad-market gauge. The Nasdaq Composite Index rallied 1.1% at 6,432.26, and ended within range of its all-time closing high.
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