Key benchmarks hit fresh intraday high in mid-afternoon trade as positive opening in European stocks fortified investors' risk appetite. At 14:22 IST, the barometer index, the S&P BSE Sensex, was up 300.96 points or 0.88% at 34,443.11. The Nifty 50 index was up 82.05 points or 0.78% at 10,573.10. Strength in other Asian stocks also boosted sentiment.
The market opened on a positive note and extended gains as the session progressed. After some profit booking in early afternoon trade, key indices resumed upward trend in mid-afternoon trade. The Sensex rose 335.44 points, or 0.98% at the day's high of 34,477.59 in mid-afternoon trade, its highest level since 16 February 2018. The index rose 83.57 points, or 0.24% at the day's low of 34,225.72 in early trade. The Nifty rose 98.75 points, or 0.94% at the day's high of 10,589.80 in mid-afternoon trade, its highest level since 16 February 2018. The index rose 29.15 points, or 0.28% at the day's low of 10,520.20 in early trade.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,646 shares rose and 1,024 shares fell. A total of 161 shares were unchanged.
Among secondary barometers, the BSE Mid-Cap index was up 0.72%, underperforming the Sensex. The BSE Small-Cap index was up 0.89%, outperforming the Sensex.
Most realty shares rose. Oberoi Realty (up 8.64%), Prestige Estates Projects (up 3.46%), Unitech (up 3.23%), Phoenix Mills (up 3.19%), Housing Development and Infrastructure (HDIL) (up 2.40%), Sobha (up 1.51%), DLF (up 1.40%), Anant Raj (up 0.70%), Parsvnath Developers (up 0.70%), Omaxe (up 0.40%), Mahindra Lifespace Developers (up 0.21%), Sunteck Realty (up 0.02%) and Godrej Properties (up 0.01%), edged higher. Indiabulls Real Estate (down 0.63%), Peninsula Land (down 0.68%) and D B Realty (down 1.98%), edged lower.
Power generation stocks were in demand. Reliance Power (up 3.38%), Reliance Infrastructure (up 2.61%), CESC (up 1.93%), Torrent Power (up 1.92%), Adani Power (up 1.87%), GMR Infrastructure (up 1.60%), Tata Power (up 0.70%), NHPC (up 0.54%), Jaiprakash Power Ventures (up 0.47%) and NTPC (up 0.09%), edged higher. JSW Energy was down 0.43%.
More From This Section
State-run Power Grid Corporation of India was up 1.89%. State-run Coal India was up 1.01%.
Tata Elxsi was up 2.74% after the company partnered with digital entertainment platform of Zee Entertainment Enterprises for front-end applications. The announcement was made during market hours today, 26 February 2018. ZEE5, the newly launched digital entertainment destination by Zee Entertainment Enterprises (ZEEL) has partnered with Tata Elxsi for its front-end applications. ZEE5 is India's largest, most comprehensive digital entertainment platform for language content. It offers the best of originals, Indian and international movies and TV shows, music, live TV, and health and lifestyle content - across 12 languages.
Thomas Cook (India) gained 3.07% after the company said that it has entered into a strategic agreement with Wildlife Reserves Singapore. The announcement was made during market hours today, 26 February 2018.
Thomas Cook (India) has entered into a 3 year strategic agreement with Wildlife Reserves Singapore (WRS) an organization dedicated to the management of world-leading zoological institutions - Jurong Bird Park, Night Safari, River Safari and Singapore Zoo. Thomas Cook India's internal data has revealed a strong and significant growth of Indians travelling to Singapore with a 20% yearly growth. Additionally, WRS reveals that India is one of the top five countries in terms of visitors across its four parks.
Hence, in a focussed initiative to leverage this high potential growth segment, Thomas Cook India and WRS have entered into a strategic agreement and via this three year plan, both companies will focus on a multipronged engagement that includes product development, joint consumer promotions and MarCom to showcase Wildlife Reserves Singapore.
Overseas, European markets were trading higher as investors prepared for an event-packed week of economic data. Asian shares were trading higher after US stock indices jumped on Friday, 23 February 2018.
US stocks rallied on Friday, 23 February 2018, to end a bumpy week with slight gains, as falling bond yields provided a reprieve for investors concerned about rising inflation.
The focus this week is on the US Federal Reserve chairman Jerome Powell's congressional testimony on monetary policy and the economy. Powell will testify on the central bank's semi-annual report on monetary policy and the economy on Tuesday, 27 February 2018, before the US House of Representatives' Financial Services Committee.
Powered by Capital Market - Live News