Key benchmark indices extended gains in mid-morning trade. At 11:19 IST, the barometer index, the S&P BSE Sensex, was up 256.60 points or 1.01% at 25,739.12. The Nifty 50 index was up 77.45 points or 1% at 7,809.25.
The BSE Sensex rose 287.61 points, or 1.13%, at the day's high of 25,770.13 in mid-morning trade. The Nifty 50 index rose 86.90 points, or 1.12%, at the day's high of 7,818.70 in mid-morning trade.
The market breadth indicating the overall health of the market was strong, with more than two gainers for every loser on BSE. 1,549 shares rose and 613 shares fell. A total of 165 shares were unchanged. The BSE Mid-Cap index was up 0.88%. The BSE Small-Cap index was up 0.97%. Both these indices underperformed the Sensex.
In overseas markets, Asian stocks edged higher after the US Federal Reserve's meeting minutes sent strong signals of a rate increase in December, a vote of confidence in the health of the world's largest economy and a boon for the banking sector. US stocks rallied yesterday, 18 November 2015, after minutes from last month's Federal Reserve meeting showed most officials anticipated economic conditions could be strong enough for a December interest-rate increase. The Fed has kept its benchmark for short-term rates near zero since late 2008. A string of rate increases can eventually weigh on stock markets, but investors have mostly become prepared for the Fed to act next month and do not anticipate that an initial rate increase will derail the bull market.
Most realty shares edged higher. Sobha (up 2.84%), Unitech (up 2.01%), Housing Development and Infrastructure (HDIL) (up 1.60%), Oberoi Realty (up 1.26%), Indiabulls Real Estate (up 1.18%), Anant Raj (up 0.87%), Peninsula Land (up 0.66%), D B Realty (up 0.64%), Parsvnath Developers (up 0.61%), Godrej Properties (up 0.53%) and Prestige Estates Projects (up 0.50%), edged higher. Phoenix Mills (down 0.01%), Sunteck Realty (down 0.37%) and DLF (down 0.47%), edged lower.
Most metal shares rose. JSW Steel (up 1.83%), Hindustan Zinc (up 1.67%), Tata Steel (up 0.95%), Vedanta (up 0.95%), National Aluminium Company (up 0.69%), Jindal Steel & Power (up 0.62%), Steel Authority of India (up 0.56%), Hindustan Copper (up 0.28%) and Bhushan Steel (up 0.24%), edged higher. Hindalco Industries was down 0.39%.
Intellect Design Arena rose 3.04% after the insurance software division of the company announced the launch of its Digital Distribution Suite for the UK Life and Pension markets. The announcement was made after market hours yesterday, 18 November 2015. Intellect SEEC, the insurance software division of Intellect Design Arena yesterday, 18 November 2015 announced the launch of its Digital Distribution Suite for the UK Life and Pension markets. The Digital Distribution suite is designed to strengthen the customer relationship throughout all touch points of the sales and service process, delivering consistent, high quality customer experience irrespective of channel or device, Intellect Design Arena said.
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