A divergent trend was witnessed in morning trade as the barometer index, the S&P BSE Sensex, was trading with small losses while the 50-unit CNX Nifty registered marginal gains. At 10:18 IST, the barometer index, the S&P BSE Sensex, was off 11.90 points or 0.05% at 25,856.59. The Nifty 50 index was up 2.25 points or 0.03% at 7,858.80
The market breadth indicating the overall health of the market was strong. On BSE, 1,232 shares rose and 667 shares fell. A total of 121 shares were unchanged. The BSE Mid-Cap index was up 0.36%. The BSE Small-Cap index was up 0.73%. Both these indices outperformed the Sensex.
In overseas markets, Asian markets were trading higher led by broad gains on Wall Street on Friday, 20 November 2015. Japanese markets were closed on account of a holiday. US markets closed with gains on Friday, 20 November 2015 led by a rally in healthcare, consumer and technology stocks.
Capital goods stocks rose. Bharat Heavy Electricals (Bhel) (up 1.39%), Bharat Electronics (up 0.16%), L&T (up 0.64%), Siemens (up 0.09%) and Thermax (up 0.89%) gained. ABB India (down 0.28%), BEML (down 0.39%) fell.
Crompton Greaves (CG) advanced 1.33%. CG after market hours on Friday, 20 November 2015, said that the High Court of judicature at Bombay has on 20 November 2015, approved the scheme of demerger of the consumer products business unit of CG into CG's wholly owned subsidiary Crompton Greaves Consumer Electricals (CGCEL). This scheme was approved by the shareholders of CG at the court convened meeting held on 13 August 2015. Upon the effective implementation of the scheme, CGCEL will issue and allot one fully paid-up equity shares of Rs 2 each for every one equity share of Rs 2 each to the shareholders of CG as on the record date.
Metal and mining stocks declined. JSW Steel (down 0.44%), Tata Steel (down 0.98%), Steel Authority of India (Sail) (down 0.11%), Jindal Steel & Power (down 0.94%) and Hindustan Copper (down 0.18%) edged lower. National Aluminium Company (up 0.53%), Hindustan Zinc (up 0.54%) and NMDC (up 0.49%) rose.
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Adani Ports and Special Economic Zone (up 2.8%) and Asian Paints (up 2.44%) gained. Vedanta (down 2.09%) and Hindalco Industries (down 2.59%) declined. Adani Ports and Special Economic Zone and Asian Paints will replace Vedanta and Hindalco Industries as constituents of the 30-share S&P BSE Sensex with effect from 21 December 2015.
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