Key benchmark indices continued to trade with small gains in early afternoon trade in what was a lackluster and rangebound session of trade so far. At 12:20 IST, the barometer index, the S&P BSE Sensex, was up 29.58 points or 0.11% at 26,337.56. The Nifty 50 index was currently up 7.55 points or 0.09% at 8,089.95.
After opening higher triggered by modest gains in Asian stocks, indices amid intermittent bouts of volatility hovered in positive terrain with small gains.
The BSE Mid-Cap index was up 0.29%. The BSE Small-Cap index was currently up 0.34%. Both these indices outperformed the Sensex. The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,222 shares rose and 1,003 shares declined. A total of 139 shares were unchanged.
Among the sectoral trend, auto stocks gained on renewed buying interest. Mahindra & Mahindra (M&M) (up 1.31%), Ashok Leyland (up 1.82%), Maruti Suzuki India (up 0.72%), Eicher Motors (up 1.27%), Bajaj Auto (up 1.36%), Hero MotoCorp (up 1.21%), and TVS Motor Company (up 0.53%) gained. Tata Motors declined 0.8%.
Shares of power generation and power distribution companies also gained in positive market. Torrent Power (up 0.79%), NHPC (up 1.48%), Tata Power Company (up 0.39%), Adani Power (up 1.81%), NTPC (up 0.65%), Power Grid Corporation of India (up 0.36%), Reliance Infrastructure (up 1.44%) and Reliance Power (up 2.65%) gained.
Shares of state run coal mining major Coal India rose 0.31% to Rs 291.45. The stock had hit a high of Rs 292 and a low of Rs 289.25 so far during the day.
Among side counters, Welspun Corp gained 7.24% to Rs 80.75 on BSE after a large bulk deal of 58.78 lakh shares was executed on the scrip at Rs 80.70 per share in opening trade on BSE.
Jubilant Life Sciences rose 2.84% to Rs 613.25 on bargain hunting after a recent slide. Shares of the company fell 7.28% in three trading sessions to settle at Rs 596.30 yesterday, 20 December 2016, from its close of Rs 643.15 on 15 December 2016.
Overseas, Asian stocks were mixed amid volatility after overnight advances in US stocks. China's Shanghai Composite led among gainers in Asian stocks, rising 0.79%. Among economic news in Asia, the Japanese government raised its overall assessment of the domestic economy for the first time in 21 months today, 21 December 2016, though it still took a cautious line on uncertainties in the global economy.
The government said in its monthly report for December that the economy is continuing on a moderate recovery path. Previously, the government said there were spots of weakness while noting that a gradual recovery was under way.
US stocks rose yesterday, 20 December 2016, with the Dow Jones Industrials Average and Nasdaq hitting their latest in a series of records, as the market's recent upward trend, led by a rally in bank stocks continued unabated. The market extended a rally fuelled by hopes of stronger economic growth under Donald Trump's presidency.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
