In a sudden turnaround, key benchmark indices bounced back from negative terrain and hit fresh intraday high in mid-morning trade. At 11:16 IST, the barometer index, the S&P BSE Sensex, was up 184.67 points or 0.71% at 26,026.59. The Nifty 50 index was up 52.75 points or 0.67% at 7,895.50. The BSE Sensex cross the psychologically important 26,000 mark.
The BSE Sensex rose 194.32 points, or 0.75% at the day's high of 26,036.24 in mid-morning trade, its highest level since 10 November 2015. The BSE Sensex fell 72.11 points, or 0.28% at the day's low of 25,769.81 in morning trade. The Nifty 50 index rose 57.20 points, or 0.73% at the day's high of 7,899.95 in mid-morning trade, its highest level since 9 November 2015. The Nifty 50 index fell 24.95 points, or 0.32% at the day's low of 7,817.80 in morning trade.
The market breadth indicating the overall health of the market was strong. There were more than two gainers against every loser on BSE. On BSE, 1,438 shares rose and 712 shares fell. A total of 172 shares were unchanged. The BSE Mid-Cap index was up 0.81%. The BSE Small-Cap index was up 0.88%. Both these indices outperformed the Sensex.
In overseas markets, Asian markets were trading on a mixed note as investors grappled with the prospects of higher US borrowing costs and slower global economic growth. The main US stock indexes finished barely changed yesterday, 19 November 2015, after weakness in the health-care and energy sectors stunted gains.
Power generation stocks were in demand. Torrent Power (up 1.41%), Jaiprakash Power Ventures (up 1.28%), JSW Energy (up 1.23%), CESC (up 0.92%), Tata Power (up 0.90%), Adani Power (up 0.88%), Reliance Infrastructure (up 0.73%), NTPC (up 0.64%) and GMR Infrastructure (up 0.56%), edged higher. Reliance Power was down 0.31%.
Metal shares were mixed. Jindal Steel & Power (up 7.66%), Bhushan Steel (up 1.35%), Tata Steel (up 0.83%), Vedanta (up 0.33%) and JSW Steel (up 0.23%), edged higher. Hindustan Copper (down 0.18%), Hindalco Industries (down 0.19%), National Aluminium Company (down 0.27%), Steel Authority of India (down 0.67%) and Hindustan Zinc (down 0.98%), edged lower. NMDC was flat at Rs 92.
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