Indices trimmed gains in early afternoon trade as profit booking emerged at higher levels. At 12:29 IST, the barometer index, the S&P BSE Sensex, was up 82.71 points or 0.23% at 36,801.31. The Nifty 50 index was up 33.35 points or 0.3% at 11,118.10. Stocks from auto and realty sectors gained.
Stocks drifted higher in early trade, with the Sensex scaling record high. Indices held onto gains in morning trade. Key benchmark indices held firm in mid-morning trade.
The S&P BSE Mid-Cap index was up 0.97%. The S&P BSE Small-Cap index was up 1.75%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1774 shares rose and 594 shares fell. A total of 112 shares were unchanged.
Auto stocks gained. Eicher Motors (up 2.52%), Tata Motors (up 1.3%), Maruti Suzuki India (up 1.74%), Mahindra & Mahindra (M&M) (up 1.17%), Ashok Leyland (up 2.8%), Escorts (up 1.15%), Hero MotoCorp (up 0.35%) and TVS Motor Company (up 1.02%) gained. Bajaj Auto (down 0.2%) fell.
Realty stocks advanced. DLF (up 4.74%), Indiabulls Real Estate (up 3.63%), Housing Development and Infrastructure (up 4.4%), D B Realty (up 7.39%), Unitech (up 4.89%), Sobha (up 0.61%), Godrej Properties (up 2.76%) and Prestige Estates Projects (up 1.37%) gained. Oberoi Realty (down 0.67%) fell.
Titagarh Wagons hit an upper circuit limit of 20% at Rs 86.55 on bargain hunting after a recent slump. Shares of Titagarh Wagons slumped 22% in 11 trading sessions to settle at Rs 72.15 yesterday, 23 July 2018, from its close of Rs 92.50 on 6 July 2018.
Overseas, Asian stocks rose led by Chinese shares as the nation's assets came into focus after the government unveiled a package of measures to boost domestic demand amid simmering trade tensions that threaten to worsen an economic slowdown. In US, the S&P 500 and the Nasdaq close slightly higher Monday thanks to strong bank and technology shares but the Dow extended its losing streak to a third session.
Meanwhile, finance ministers and central bankers from the Group of 20 reportedly made little progress on trade tensions at a weekend meeting in Buenos Aires, as both US and European Union officials held their ground. Investors have been worried that spats between the US and other major trading partners could explode into a full-scale trade war, damaging economic growth and investments.
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