Key benchmark indices hovered in a narrow range with modest gains in mid-morning trade. At 11:15 IST, the barometer index, the S&P BSE Sensex was up 185.50 points or 0.71% at 26,490.13. The gains for the Nifty 50 index were lower than those for the Sensex in percentage terms. The Nifty was currently up 51 points or 0.63% at 8,159.45.
In overseas stock markets, Asian stocks edged higher tracking overnight gains in US markets. US stocks registered modest gains yesterday, 15 November 2016, as energy shares climbed on the back of rising crude oil prices. Federal Reserve Vice Chair Stanley Fischer reportedly said yesterday, 15 November 2016, that he was surprised by the outcome of the US presidential election. Fischer cautioned it is too early to fully assess market fallout and said market swings following Britain's vote to leave the European Union provided a cautionary example. Fischer reportedly said that US banking rules may be limiting liquidity for some securities but their impact is not unduly hurting markets.
Closer home, the market breadth indicating the overall health of the market turned positive from negative in mid-morning trade. On BSE, 1,226 shares rose and 976 shares declined. A total of 114 shares were unchanged. The BSE Mid-Cap index was currently up 1.39%. The BSE Small-Cap index was currently up 0.83%. Both these indices outperformed the Sensex.
Stocks of public sector banks were mixed. Punjab National Bank (down 1.55%), Bank of Baroda (down 1.38%) and IDBI Bank (down 0.07%) edged lower. Bank of India (up 0.04%), Union Bank of India (up 0.85%) and State Bank of India (up 0.54%) edged higher.
Stocks of private sector banks edged lower. Kotak Mahindra Bank (down 2.33%), Yes Bank (down 0.73%), RBL Bank (down 0.78%), Axis Bank (down 0.87%), IndusInd Bank (down 1.16%) and HDFC Bank (down 0.35%) declined. ICICI Bank (up 1.39%) edged higher.
Realty stocks were mostly higher. Oberoi Realty (up 3.62%), Godrej Properties (up 1.57%), Indiabulls Real Estate (up 2.1%), Prestige Estates Projects (up 0.95%), Housing Development & Infrastructure (up 1.41%) and D B Realty (up 0.51%) rose. Sobha (down 1%) and DLF (down 0.61%) declined. Unitech was flat at Rs 4.88.
More From This Section
ABB India was down 0.41% at Rs 1,067.10. The stock was volatile. The stock hit a high of Rs 1,093 and a low of Rs 1,063 so far during the day. The company after market hours yesterday, 15 November 2016 said that it won an order to supply 1,600 transformers to support railway expansion in India.
On the macro front, the data released by the government after market hours yesterday, 15 November 2016 showed that the all-India general CPI inflation dipped to 4.2% in October 2016 compared with 4.39% in September 2016. The core CPI inflation was nearly flat 4.81% in October 2016 from 4.77% in September 2016.
India's trade deficit in October 2016 widened to $10.16 billion compared with $8.34 billion in the previous month, government data released after market hours yesterday, 15 November 2016 showed. Merchandise exports grew 9.6% year-on-year to $23.5 billion in October, while imports expanded 8.11% year-on-year to $33.67 billion.
Powered by Capital Market - Live News