Key benchmark indices extended gains and hit fresh intraday high in morning trade. Buying was supported by positive global cues. The S&P BSE Sensex and the Nifty Bank index hit fresh record highs. The Nifty traded near 12,150 level.
At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 293.47 points or 0.72% at 41,232.19. The Nifty 50 index was up 78.85 points or 0.65% at 12,132.80.
The broader market lagged the benchmark indices. The S&P BSE Mid-Cap index was up 0.31%. The S&P BSE Small-Cap index was up 0.5%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1150 shares rose and 650 shares fell. A total of 103 shares were unchanged. In Nifty 50 index, 43 stocks advanced while 7 stocks declined.
Buzzing Index:
Metal stocks resumed uptrend after a day's pause. The Nifty Metal index was up 1.34% at 2,625.85.
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Jindal Steel & Power (up 3.69%), Tata Steel (up 2.62%), Vedanta (up 2.51%), Steel Authority of India (up 2.15%), JSW Steel (up 2.07%), Hindustan Copper (up 2%), Hindustan Zinc (up 0.73%), National Aluminium Company (up 0.71%), Hindalco Industries (up 0.39%) and NMDC (up 0.3%) were top gainers in metal segment.
Phase one of the US-China trade deal boosted outlook for industrial metals.
Stocks in Spotlight:
Yes Bank was up 1.39% to Rs 47.70. The stock is banned from NSE's Futures & Options (F&O) segment after the security crossed 95% of market wide position limit.
Magma Fincorp slumped 4.37% after the company received a credit rating downgrade on term loans and non-convertible debentures programme from ICRA.
JM Financial rose 0.94% after the company said its board will meet on Thursday, 19 December 2019, to consider fund raising by way of issue of equity shares or any other instrument. The company is also considering fund raising through qualified institutions placement, or private placement of equity or debt securities.
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