Key indices extended gains and hit fresh intraday high in mid-morning trade as firmness in Asian stocks following Emmanuel Macron's victory as France's next president boosted sentiment on the domestic bourses. At 11:17 IST, the barometer index, the S&P BSE Sensex was up 141.66 points or 0.47% at 30,000.46. The Nifty 50 index was up 50.65 points or 0.55% at 9,335.95. The gains saw Sensex regaining psychological 30,000 mark in mid-morning trade.
Earlier, key indices had regained strength after trimming initial gains. Indices had opened with small gains tracking firm global stocks.
The Sensex gained 157.24 points or 0.52% at the day's high of 30,016.04 in mid-morning trade. The index gained 18.61 points or 0.06% at the day's low of 29,877.41 in morning trade. The Nifty gained 53.40 points or 0.57% at the day's high of 9,338.70 in mid-morning trade. The index rose 12.65 points or 0.13% at the day's low of 9,297.95 in morning trade.
The BSE Mid-Cap index rose 0.75%. The BSE Small-Cap index gained 0.7%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were almost two gainers against every loser on BSE. 1,572 shares rose and 808 shares fell. A total of 132 shares were unchanged.
IT stocks advanced in a firm market. Tech Mahindra (up 1.43%), HCL Technologies (up 0.32%), Infosys (up 0.86%), Wipro (up 1.06%), Oracle Financial Services Software (up 0.43%) and MphasiS (up 0.4%) edged higher.
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Most auto stocks also gained. Mahindra & Mahindra (M&M) (up 1.11%), Maruti Suzuki India (up 0.78%), Hero MotoCorp (up 1.04%), Tata Motors (up 0.83%) and TVS Motor Company (up 1.45%) gained. Ashok Leyland (down 0.3%) and Bajaj Auto (down 0.11%) declined.
Eicher Motors rose 2.76% after consolidated net profit rose 33.9% to Rs 459.44 crore on 23.34% growth in total income from operations to Rs 2132.54 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Friday, 5 May 2017.
Dalmia Bharat Sugar & Industries slumped 7.88% after net profit fell 30.3% to Rs 39.17 crore on 29.1% increase in net sales to Rs 421.92 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Friday, 5 May 2017.
Overseas, most Asian stocks rose led by gains in Japanese stocks amid optimism on improving global growth following Emmanuel Macron's victory as France's next president. Japan's Nikkei Average jumped 2.29% as the index was also playing catch-up with other markets in the region, having been shut since Wednesday, 3 May 2017 for public holidays.
China's April exports rose 8% from a year earlier while imports expanded 11.9%, official data showed. That left the country with a trade surplus of $38.05 billion for the month, the General Administration of Customs said.
Centrist candidate Emmanuel Macron has won the French presidential election with about 66.1% of the votes, against 33.9% for rival Marine Le Pen, according to official tallies. The victory on Sunday, 7 May 2017 for the 39-year-old Macrona staunch supporter of the European Unionis likely to placate anxious global market investors, who have fretted for weeks that far-right candidate Le Pen would win and make good on promises to yank France out of the EU, potentially unsettling the eurozone and world markets.
US stocks closed at a record Friday, 5 May 2017 on better-than-forecast data on American jobs.
Data in US showed some 211,000 people found new jobs in April as hiring rebounded from a wobbly showing in early spring, offering fresh evidence the economy is still growing at healthy clip and paving the way for the Federal Reserve to raise interest rates soon. Unemployment rate, meanwhile, dipped to 4.4% from 4.5% to match the lowest level since May 2007.
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