Key benchmark indices further extended gains and hit fresh intraday high in early afternoon trade. At 12:17 IST, the barometer index, the S&P BSE Sensex, was up 186.49 points or 0.58% at 32,068.65. The Nifty 50 index was up 51.10 points or 0.51% at 10,057.15. Positive leads from Asian markets and overnight rally on the Wall Street boosted investors' sentiment.
The Sensex was trading above the psychologically important 32,000 mark. The Nifty was trading above the psychologically important 10,000 mark. The Sensex and the Nifty, both, hit their highest levels in more than one month. The Sensex rose 196.93 points, or 0.62% at the day's high of 32,079.09 in mid-morning trade, its highest level since 8 August 2017. The index rose 68.08 points, or 0.21% at the day's low of 31,950.24 in morning trade. The Nifty rose 57.75 points, or 0.58% at the day's high of 10,063.80 in mid-morning trade, its highest level since 8 August 2017. The index rose 22 points, or 0.22% at the day's low of 10,028.05 in morning trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.73%. The BSE Small-Cap index was up 0.89%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,398 shares rose and 970 shares fell. A total of 140 shares were unchanged.
Pharmaceutical shares were in demand. Divi's Laboratories (up 6.26%), Sun Pharmaceutical Industries (up 2.53%), Wockhardt (up 2.41%), IPCA Laboratories (up 1.96%), Piramal Enterprises (up 1.53%), Aurobindo Pharma (up 1.39%), Dr Reddy's Laboratories (up 1.11%), Glenmark Pharmaceuticals (up 0.79%), Lupin (up 0.75%), Cadila Healthcare (up 0.64%), Cipla (up 0.47%) and GlaxoSmithKline Pharmaceuticals (up 0.24%), edged higher. Alkem Laboratories was down 0.68%.
Strides Shasun rose 2.14% after the company said it has received approval from the United States Food and Drug Administration (USFDA) for Potassium Citrate Extended-Release Tablets USP, 5 mEq, 10 mEq and 15 mEq. The product, which is the first approval for an Extended Release tablet for the company, will be launched immediately. Strides Shasun will be the second generic player to commercialize the product. Potassium Citrate, a urinary alkalinizing agent, is used for preventing certain types of kidney stones. According to IMS data, the US market for Potassium Citrate is about $110 million. The announcement was made before market hours today, 12 September 2017.
Power generation stocks were mixed. JSW Energy (up 4.06%), Tata Power (up 1.12%), Reliance Power (up 0.88%), NHPC (up 0.70%), GMR Infrastructure (up 0.58%), Reliance Infrastructure (up 0.57%), Adani Power (up 0.16%) and Torrent Power (up 0.09%), edged higher. CESC (down 0.01%) and Jaiprakash Power Ventures (down 0.94%), edged lower.
More From This Section
State-run Power Grid Corporation of India was up 0.02%. State-run Coal India was down 0.6%.
State-run NTPC was down 0.12%. The company said that 40 megawatts (MW) out of 50 MW of Rojmal Wind Energy Project of NTPC in Gujarat has been commissioned. With this, the total installed capacity of NTPC on standalone basis has become 44482 MW and that of NTPC group has become 51698 MW. The announcement was made after market hours yesterday, 11 September 2017. Further, the company said that Unit 2 of 250 MW of Nabinagar Thermal Power Project (4 X 250 MW) of Bhartiya Rail Bijlee Company (BRBCL), a subsidiary of NTPC is declared on commercial operation on 10 September 2017. With this, the commercial capacity of BRBCL and NTPC group has become 500 MW and 48788 MW respectively.
Ucal Fuel Systems tanked 5.29% after net profit fell 53.4% to Rs 3.79 crore on 9.1% decline in net sales to Rs 124.75 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 11 September 2017.
Overseas, Asian stocks extended yesterday's gains, mirroring strength in the US equities overnight as concerns faded over the potential damage of Hurricane Irma and as Korean Peninsula tensions took a backseat.
US stocks closed sharply higher on Monday, as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, helping to lure investors into buying assets perceived as risky like equities. The Dow Jones Industrial Average closed about 259.58 points, or 1.2%, higher at 22,057.37, while the S&P 500 index climbed 1.1% at 2,488.11, marking a fresh record for the broad-market gauge. The Nasdaq Composite Index rallied 1.1% at 6,432.26, and ended within range of its all-time closing high.
Powered by Capital Market - Live News