Key benchmark indices bounced back in positive terrain in early afternoon trade. At 12:15 IST, the barometer index, the S&P BSE Sensex, was up 99.79 points or 0.39% at 25,710.32. The Nifty 50 index was up 25.80 points or 0.33% at 7,788.05.
The BSE Sensex rose 117.36 points, or 0.46% at the day's high of 25,727.89 in early afternoon trade. The Nifty 50 index rose 33.20 points, or 0.43% at the day's high of 7,795.45 in early afternoon trade.
The BSE Sensex and the Nifty 50 index recovered after hitting their lowest level in almost seven weeks. The BSE Sensex fell 159.11 points, or 0.62% at the day's low of 25,451.42 in morning trade, its lowest level since 29 September 2015. The Nifty 50 index fell 48.10 points, or 0.62% at the day's low of 7,714.15, in morning trade, its lowest level since 29 September 2015.
The market breadth indicating the overall health of the market once again turned positive from negative. On BSE, 1,204 shares rose and 1,134 shares fell. A total of 140 shares were unchanged. The BSE Mid-Cap index was up 0.12%, underperformed the Sensex. The BSE Small-Cap index was up 0.33%, outperforming the Sensex.
Sugar stocks were in demand. Sakthi Sugars (up 19.85%), Simbhaoli Sugars (up 15.73%), Shree Renuka Sugar (up 10.28%), Empee Sugars and Chemicals (up 9.82%), Upper Ganges Sugar & Industries (up 9.27%), Rana Sugars (up 8.45%), Oudh Sugar Mills (up 8.36%), Dhampur Sugar Mills (up 7.77%), KCP Sugar & Industries Corporation (up 7.42%), DCM Shriram Industries (up 5.97%), Balrampur Chini Mills (up 5.58%), Bajaj Hindusthan (up 5.08%), Dwarikesh Sugar Industries (up 4.95%) and EID Parry (India) (up 3.33%), edged higher.
Most cement shares were trading lower. Shree Cement (down 3.40%), Ambuja Cements (down 1.27%) and ACC (down 1.08%), edged lower. UltraTech Cement was up 0.77%.
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Grasim Industries 0.47%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
In overseas markets, Asian markets declined today, 16 November 2015, after terror attacks in Paris unnerved investors and data showed Japan entered a recession for the second time in two years. Selling hit Wall Street for a third straight day on Friday, 13 November 2015, amid a selloff in retail stocks, capping the worst week for the major averages since August.
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