Key benchmark indices hit fresh intraday high in mid-afternoon trade. At 14:18 IST, the barometer index, the S&P BSE Sensex, was up 134.86 points or 0.42% at 32,293.52. The Nifty 50 index was up 24.95 points or 0.25% at 10,118. Index heavyweight Reliance Industries (RIL) hit a record high level in intraday trade. Auto shares were in demand. Buying momentum was limited to large-caps as broader market witnessed selling pressure.
The Sensex hit its highest levels in more than five weeks in mid-afternoon trade. The Nifty hit its highest levels in more than six weeks in mid-afternoon trade. The Sensex rose 189.64 points, or 0.59% at the day's high of 32,348.30 in mid-afternoon trade, its highest intraday level since 8 August 2017. The index fell 20.95 points, or 0.07% at the day's low of 32,137.71 in early trade. The Nifty rose 38.40 points, or 0.38% at the day's high of 10,131.45 in mid-afternoon trade, its highest intraday level since 2 August 2017. The index fell 9 points, or 0.09% at the day's low of 10,084.05 in early trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.08%. The BSE Small-Cap index was up 0.17%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, turned negative from positive. On BSE, 1,315 shares fell and 1,196 shares rose. A total of 160 shares were unchanged.
Index heavyweight Reliance Industries (RIL) was up 4.01% at Rs 856.30. The stock hit a record high of Rs 859.25 in intraday today, 13 September 2017.
Power generation stocks were mixed. Tata Power (up 5.74%), GMR Infrastructure (up 4.02%), Jaiprakash Power Ventures (up 3.20%), Reliance Infrastructure (up 2.21%), Reliance Power (up 1.36%), JSW Energy (up 0.91%) and CESC (up 0.73%), edged higher. NHPC (down 0.17%), Adani Power (down 1.66%) and Torrent Power (down 1.8%), edged lower.
State-run power firm NTPC was down 0.06% at Rs 169.80. NTPC announced during trading hours today, 13 September 2017, that Unit 2 of 660 megawatts (MW) of Mouda Super Thermal Station, Stage-II (2 X 660 MW) will be declared on commercial operation from 18 September 2017. Further, Unit 1 of 660 MW of Solapur Super Thermal Station (2 X 660 MW) will be declared on commercial operation from 25 September 2017. With this, the commercial capacity of NTPC would become 42892 MW and that of NTPC Group would cross 50 GW and become 50108 MW.
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State-run Coal India was down 0.54%. State-run Power Grid Corporation of India was down 0.39%.
Auto shares were in demand. Bajaj Auto (up 1.04%), Mahindra & Mahindra (up 0.94%), Ashok Leyland (up 0.51%), Hero MotoCorp (up 0.51%), TVS Motor Company (up 0.41%), Escorts (up 0.17%) and Maruti Suzuki India (up 0.02%), edged higher. Eicher Motors was down 0.41%.
Tata Motors rose 0.71% to Rs 389.95 after the company said that group global wholesales including Jaguar Land Rover, rose 9% at 94,210 units in August 2017 over August 2016. The announcement was made after market hours yesterday, 12 September 2017.
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range rose 17% at 35,352 units in August 2017 over August 2016. Global wholesales of all passenger vehicles rose 5% at 58,858 units in August 2017 over August 2016. Global wholesales for Jaguar Land Rover (JLR) were 44,420 vehicles (JLR number for August 17 includes CJLR volumes of 7,026 units). Jaguar wholesales for the month were 10,978 vehicles, while Land Rover wholesales for the month were 33,442 vehicles. CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR.
On macro front, India's industrial production rose 1.2% in July 2017 over July 2016, while snapping 0.2% decline for June 2017. The growth for June 2017 has been revised downwards to -0.2% from -0.1% reported earlier. The data was unveiled after market hours yesterday, 12 September 2017.
The all-India general consumer price index (CPI)-based inflation accelerated to 3.36% in August 2017, compared with 2.36% in July 2017. The data was unveiled after market hours yesterday, 12 September 2017.
Overseas, European markets were trading lower as a global equity rally showed signs of flagging. Most Asian stocks were trading lower. All three major US stock indexes booked all-time closing highs on Tuesday, 12 September 2017. It marks the first time all three benchmarks finished at records on the same day since 26 July 2017. The Dow Jones Industrial Average rose 61.49 points, or 0.3%, to finish at 22,118.86. The S&P 500 added 8.37 points, or 0.3%, to close at 2,496.48. The Nasdaq Composite Index finished up 22.02 points, or 0.3%, at 6,454.28.
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