A strong opening was witnessed on domestic bourses as key benchmark indices surged in early trade triggered by firmness in Asian stocks. At 9:30 IST, the barometer index, the S&P BSE Sensex was up 381.76 points or 1.51% at 25,699.63. The 50-unit CNX Nifty was currently up 115.40 points or 1.5% at 7,803.65. IT and realty stocks led gains. All the twelve sectoral indices on BSE were in the green.
The broad market depicted strength. The market breadth indicating the overall health of the market was very strong. On BSE, 1,105 shares rose and 167 shares fell. A total of 26 shares were unchanged. The BSE Mid-Cap index was up 1.52%. The BSE Small-Cap index was up 1.53%. Both these indices outperformed the Sensex.
In overseas markets, Asian stocks rose sharply today, 9 September 2015 after a strong finish for the US stocks overnight.
Among stock specific action, FMCG major Hindustan Unilever (HUL) rose 0.58% after the company said that it has yesterday, 8 September 2015 signed an agreement for the sale and transfer of its bread and bakery business under the "Modern" brand to Nimman Foods, an investee company of the Everstone Group, for an undisclosed consideration. The company made announcement after market hours yesterday, 8 September 2015. The decision is in line with the company's strategy to exit non-core businesses, while continuing to drive its growth agenda in the core packaged foods business.
HUL's bread and bakery business consists of a full range of white and sweet breads, health and wellness breads and value added bakery products such as cakes, muffins, buns, pavs, cream rolls under the "Modern" brand name. The business currently has six own operating manufacturing units and a network of franchisees across India.
Infosys (up 3.29%), Vedanta (up 3.05%) and Axis Bank (up 2.33%) were the major gainers from the Sensex pack.
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