Amid movement in a small range, the key benchmark indices once again regained positive zone in mid-morning trade. At 11:22 IST, the barometer index, the S&P BSE Sensex, was up 20.69 points or 0.08% at 25,889.18. The Nifty 50 index was up 11.30 points or 0.14% at 7,867.85. The gains for the Nifty were higher in percentage terms than those for the Sensex.
The market breadth indicating the overall health of the market was strong. On BSE, 1,385 shares rose and 790 shares fell. A total of 158 shares were unchanged. The BSE Mid-Cap index was up 0.39%. 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 ended with gains on Friday, 20 November 2015 led by a rally in healthcare, consumer and technology stocks.
Auto stocks gained. Bajaj Auto (up 2.27%), Hero MotoCorp (up 3.02%), Maruti Suzuki India (up 0.73%), Mahindra & Mahindra (M&M) (up 0.98%), Ashok Leyland (up 0.64%) gained.
Tata Motors (down 0.15%), Eicher Motors (down 0.24%) and TVS Motor Company (down 0.2%) fell.
Realty stocks were in demand on renewed buying. DLF (up 1.17%), Unitech (up 1.13%), Housing Development and Infrastructure (up 0.7%), D B Realty (up 0.06%), Sobha (up 1.25%), Godrej Properties (up 0.25%), Oberoi Realty (up 0.03%) and Parsvnath Developers (up 1.42%) gained. Indiabulls Real Estate shed 0.74%.
UPL lost 2.59%. Advanta gained 2.91%. The board of directors of UPL and Advanta today, 23 November 2015, unanimously approved Advanta's merger with UPL. UPL and Advanta, both, made announcement of merger during market hours today, 23 November 2015. As per the scheme of merger, Advanta shareholders will be issued 1 share of UPL for every share held in Advanta. Three optionally redeemable convertible preference shares in UPL will be issued for 1 share of resident shareholders of Advanta. Three compulsorily convertible preference shares in UPL will be issued for 1 share of non-resident shareholders of Advanta. On conversion, 471 preference shares to be converted into 10 equity shares of UPL. Advanta global depository receipt (GDR) holders holding 1 GDR will be issued 1.06 GDR in UPL. The shares by UPL in Advanta will be cancelled as part of the scheme.
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