Key benchmark indices were hovering in positive terrain in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex advanced 107.24 points or 0.32% at 33,357.54. The Nifty 50 index rose 25.80 points or 0.25% at 10,291.45.
The Sensex surged 200.01 points, or 0.6%, at the day's high of 33,450.31 in early trade, its highest level since 30 November 2017. The index rose 62.87 points, or 0.19%, at the day's low of 33,313.17 in early afternoon trade. The Nifty advanced 56.75 points, or 0.55%, at the day's high of 10,322.40 in early trade, its highest level since 30 November 2017. The index rose 16.40 points, or 0.16%, at the day's low of 10,282.05 in early afternoon trade.
Key indices started the session on a firm note on positive Asian stocks after stronger finish on the Wall Street fueled by stronger-than-expected jobs report. Indices traded with modest gains in morning trade before trimming gains in mid-morning trade. Indices were hovering in positive terrain in afternoon trade.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.18%, underperforming the Sensex. The S&P BSE Small-Cap index advanced 0.41%, outperforming the Sensx.
The breadth, indicating the overall health of the market, was positive. On the BSE, 1,431 shares rose and 1,153 shares declined. A total of 148 shares were unchanged.
Metal shares were mixed. National Aluminium Company (down 1.46%), Jindal Steel & Power (down 1.21%), JSW Steel (down 1.09%), Hindalco Industries (down 0.71%), Steel Authority of India (down 0.37%), Vedanta (down 0.19%) and NMDC (down 0.04%), edged lower. Hindustan Copper (up 0.27%), Tata Steel (up 0.27%), Bhushan Steel (up 0.38%) and Hindustan Zinc (up 0.46%), edged higher.
Pharmaceutical shares were mixed. Wockhardt (up 5.54%), Aurobindo Pharma (up 2.22%), Lupin (up 2.07%), Strides Shasun (up 1.92%), Sun Pharmaceutical Industries (up 1.36%), Glenmark Pharmaceuticals (up 1.24%), Cadila Healthcare (up 1.04%), Dr Reddy's Laboratories (up 0.69%) and Piramal Enterprises (up 0.57%), edged higher. Cipla (down 0.38%), GlaxoSmithKline Pharmaceuticals (down 0.64%), Divi's Laboratories (down 0.89%), IPCA Laboratories (down 1.6%) and Alkem Laboratories (down 1.74%), edged lower.
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The provisional figures of direct tax collections up to November, 2017 showed that net collections are at Rs 4.8 lakh crore which is 14.4% higher than the net collections for the corresponding period of last year. The net direct tax collections represent 49% of the total Budget Estimates of direct taxes for the FY 2018, according to the data released by the government on Sunday, 10 December 2017.
Overseas, Asian stocks edged higher following strong finish on the Wall Street on Friday. China's consumer inflation slowed more than expected in November and factory prices decelerated sharply, official data showed Saturday, 9 December 2017. The consumer price index (CPI) a main gauge of inflation rose by 1.7% in November from a year ago, compared to a 1.9% increase the previous month and 1.6% in September, said the National Bureau of Statistics.
US equities closed higher on Friday, 8 December 2017, following the release of a stronger-than-expected jobs report. The US economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. The unemployment rate held steady at 4.1%.
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