Key benchmark indices hit fresh intraday high in morning trade. At 10:20 IST, the barometer index, the S&P BSE Sensex, was up 23.72 points or 0.07% at 33,623.99. The Nifty 50 index was up 5.05 points or 0.05% at 10,445.55. The Nifty hit record high level in morning trade.
Indices opened with small gains and they firmed up as the session progressed. The Sensex rose 46.63 points, or 0.14% at the day's high of 33,646.90 in morning trade. The index fell 53.17 points, or 0.16% at the day's low of 33,547.10 in early trade. The Nifty rose 12.50 points, or 0.12% at the day's high of 10,453 in morning trade, its record high level. The index fell 9.10 points, or 0.09% at the day's low of 10,431.40 in early trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.79%. The BSE Small-Cap index was up 0.61%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,356 shares rose and 858 shares fell. A total of 74 shares were unchanged.
Cement shares were in demand. Ambuja Cements (up 0.57%), ACC (up 0.45%) and UltraTech Cement (up 0.36%), edged higher.
Grasim Industries was up 2.26%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
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FMCG shares were mixed. Jyothy Laboratories (up 2.16%), Godrej Consumer Products (up 1.79%), Procter & Gamble Hygiene & Health Care (up 1.16%), Tata Global Beverages (up 0.88%), GlaxoSmithKline Consumer Healthcare (up 0.82%), Marico (up 0.32%), Colgate Palmolive (India) (up 0.22%) and Britannia Industries (up 0.10%), edged higher. Nestle India (down 0.08%), Bajaj Corp (down 0.42%), Dabur India (down 1.05%) and Hindustan Unilever (down 1.14%), edged lower.
Divi's Laboratories was up 16.52% at Rs 1,072.30. The company announced after market hours today, 2 November 2017, the US drug regulator will lift the import alert 66-40 and moving to close out the warning letter issued to the company's Unit-II at Visakhapatnam.
Overseas, most Asian stocks were trading lower as investors locked in profit from recent gains. Investors were waiting for the announcement on the next US Federal Reserve chief, shrugging off results of a Fed meeting that met their expectations. President Donald Trump is expected to name the successor to Fed Chair Janet Yellen later in the global day.
US stocks mostly closed higher Wednesday, with the Dow and the S&P 500 ending near record levels after the US Federal Reserve kept interest rates unchanged on Wednesday, but referred to the US economy in positive terms. The Dow Jones Industrial Average rose 0.25% and the S&P 500 climbed 0.16% Both ended mere points from record levels. The Nasdaq Composite Index, however, bucked the trend to slip 0.17%.
The US central bank, in its statement following a two-day meeting, said economic activity has been picking up at a solid rate, versus the moderate rate that it had referenced in September. The rosier view of the economy also suggests that it is on track to hike interest rates in December, as has been widely expected.
Private-sector employment in the US bounced back in October as employers added 235,000 jobs, ADP reported Wednesday. The gain in October ADP was higher than the 110,000 gain in September.
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