The movement for key benchmark indices remained confined to a narrow range in afternoon trade. At 13:17 IST, the barometer index, the S&P BSE Sensex, was up 242.08 points or 0.95% at 25,834.31. The 50-unit Nifty 50 index was currently up 71.15 points or 0.91% at 7,857.25. The market breadth indicating the overall health of the market was strong. On BSE, 1,585 shares rose and 874 shares fell. A total of 207 shares were unchanged. The BSE Mid-Cap index was currently up 0.33%. The BSE Small-Cap index was currently up 0.6%. Both these indices underperformed the Sensex.
In overseas stock markets, Asian stocks edged higher following a positive lead from Wall Street. US stocks shrugged off soft economic data yesterday, 22 December 2015, scoring gains across the board to finish higher for a second straight session.
IT stocks gained. HCL Technologies (up 0.84%), TCS (up 0.59%) and Infosys (up 0.74%) gained. Tech Mahindra declined 0.05%.
Wipro edged higher in volatile trade after it signed a definitive agreement to acquire Viteos Group, a BPaaS (Business Process as-a-Service) provider for the Alternative Investment Management Industry, for a purchase consideration of $130 million. The stock was currently up 0.16% at Rs 556.55. The stock hit high of Rs 559.20 and low of Rs 553.85 so far during the day. Wipro said that the acquisition of Viteos will expand its capital markets portfolio in fund accounting services and enhance its business process services (BPS) capabilities. Viteos licenses its proprietary platform which offers transformation and integration post-trade operations. Wipro said that the company will be able to leverage this proprietary platform to launch solutions across other segments of capital market. These technology based solutions will bring in non-linear and higher revenue realisation for the company. The acquisition would be completed in Q4 March 2016, Wipro said.
Auto stocks edged higher. Mahindra & Mahindra (M&M) (up 0.03%), Hero MotoCorp (up 0.02%), Maruti Suzuki India (up 0.32%), Eicher Motors (up 0.28%), TVS Motor Company (up 0.99%), Bajaj Auto (up 0.3%) and Tata Motors (up 0.29%) gained. Ashok Leyland declined 0.74%.
Power Finance Corporation fell 3.74% as the stock turned ex-dividend today, 23 December 2015, for interim dividend of Rs 8.80 per share for the year ending 31 March 2016.
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SREI Infrastructure Finance (up 9.96%), Essar Oil (up 5.96%), Trent (up 4.92%), GAIL (India) (up 4.8%) and Indian Hotels Company (up 4.29%) were the major gainers from the BSE's 'A' group.
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