A range bound movement was witnessed as key benchmark indices hovered in positive zone in mid-morning trade. At 11:16 IST, the barometer index, the S&P BSE Sensex, was up 76.59 points or 0.29% at 26,269.57. The 50-unit CNX Nifty was up 19.85 points or 0.25% at 7,996.95. The Nifty was currently trading below the psychological 8,000 mark. Earlier, the Nifty pierced the psychological 8,000 mark in early trade.
The broad market depicted strength. There were almost two gainers against every loser on BSE. 1,391 shares rose and 715 shares fell. A total of 92 shares were unchanged. The BSE Mid-Cap index was up 0.37%. The BSE Small-Cap index was up 0.74%. Both these indices outperformed the Sensex.
In overseas markets, most Asian shares rose today, 22 September 2015, as US markets bounced back overnight and the European Central Bank (ECB) said it was prepared to ease monetary policy further. US stocks rose overnight as St. Louis Fed President James Bullard and Atlanta Fed President Dennis Lockhart separately made the case for an increase in US interest rates this year, boosting financial shares. Investors will be looking for more clarity on the Fed's decision with a number of central bank officials, including Lockhart and Fed Chairwoman Janet Yellen slated to speak this week. Meanwhile, in Europe, ECB Chief Economist Peter Praet yesterday, 21 September 2015, reiterated the bank's readiness to modify its trillion-euro bond-buying program should economic turbulence merit action.
Closer home, most power generation shares declined. CESC (down 2.3%), NTPC (down 1.5%), Reliance Power (down 1.41%), GMR Infrastructure (down 1.22%), Adani Power (down 1.21%), NHPC (down 0.3%), Jaiprakash Power Ventures (down 0.15%) and Reliance Infrastructure (down 0.13%), edged lower. Tata Power (up 0.31%), JSW Energy (up 2.08%) and Torrent Power (up 2.69%), edged higher.
Most auto shares edged higher. Ashok Leyland (up 3.91%), Eicher Motors (up 1.04%), Mahindra & Mahindra (up 1.02%), Escorts (up 0.96%), TVS Motor Company (up 0.81%) and Maruti Suzuki (India) (up 0.45%), edged higher. Hero MotoCorp (down 0.42%), Tata Motors (down 0.57%) and Bajaj Auto (down 0.66%), edged lower.
Castrol India rose 1.05% after the company said it has decided to permanently close its Wadala, Mumbai facility, subject to statutory compliances as may be applicable. The company announced after market hours yesterday, 21 September 2015. Castrol India said it does not carry out any production/manufacturing activity at Wadala facility. The company's 'Technology Centre' is currently housed at Wadala, which provides R&D support to the business and the decision about carrying out the R&D activities at different location will be taken in due course after thorough evaluation, Castrol India said. This closure does not have any impact on company's financial performance or its operations, Castrol India added.
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