Key benchmark indices edged higher in early trade. At 9:19 IST, the barometer index, the S&P BSE Sensex, was up 135.55 points or 0.51% at 26,862.10. The Nifty 50 index was up 39.10 points or 0.47% at 8,275.15.
The BSE Mid-Cap index was up 0.56%, outperforming the Sensex. The BSE Small-Cap index was up 0.48%, underperforming the Sensex.
Overseas, Asian stocks were mixed amid lacklustre closing on the Wall Street and sharp slide in oil prices overnight.
In the US, major stock indices closed mixed yesterday, 9 January 2017, with and utilities lagging, as investors geared up for the start of earnings season and digested falling oil prices. The Nasdaq composite hit a new all-time closing high.
Back home, the market breadth, indicating the overall health of the market was strong. On the BSE, 957 shares rose and 252 shares declined. A total of 46 shares were unchanged.
IndusInd Bank was up 0.23%. The bank is scheduled to announce Q3 December 2016 earnings today, 10 January 2017.
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Adani Ports and Special Economic Zone (APSEZ) rose 0.65% after the company said that pursuant to the powers delegated to the Finance Committee by the board of directors of the company, the Finance Committee has reviewed and approved the preliminary offering circular in relation to the proposed issuance of foreign currency denominated bonds (notes) in US dollars by the company. The issuance of notes offering may follow, subject to market conditions.
The pricing, tenure and other terms of the bonds to be issued will be determined later. APSEZ is rated Baa3 (Negative) by Moody's, BBB- (Stable) by S&P and BBB-(Negative) by Fitch and expects the same ratings for its notes. The announcement was made before market hours today, 10 January 2017.
ONGC (up 1.46%), Tata Motors (up 1.44%), ICICI Bank (up 1.43%), Infosys (up 0.96%) and Coal India (up 0.98%) edged higher from the 30-share Sensex pack.
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