A bout of volatility was seen in morning trade as the key benchmark indices once again regained positive zone and extended gains to hit fresh intraday high in morning trade. At 10:18 IST, the barometer index, the S&P BSE Sensex, was up 67.44 points or 0.26% at 25,886.78. The Nifty 50 index was up 15.10 points or 0.19% at 7,864.35. The gains for the Sensex were higher in percentage terms than those for the Nifty.
The market breadth indicating the overall health of the market was strong with over two gainers for every loser. On BSE, 1,280 shares rose and 626 shares fell. A total of 131 shares were unchanged. The BSE Mid-Cap index was up 0.38%. The BSE Small-Cap index was up 0.5%. Both these indices outperformed the Sensex.
In overseas markets, Asian markets were trading lower after a healthcare mega-merger between Pfizer and Allergan failed to impress investors and amid heightened expectations that the US Federal Reserve might raise interest rates next month. US markets closed marginally lower yesterday, 23 November 2015 as Pfizer's plan to buy Allergan plc in a $160 billion deal quickly drew criticism from politicians as a tax dodge.
Index heavyweight and software major Infosys fell 1% to Rs 1,043. The stock hit high of Rs 1,050 and low of Rs 1,042.50 so far during the day. Infosys announced after market hours yesterday, 23 November 2015, that its product subsidiary, Infosys Finacle, launched a new offering 'Finacle as a managed service on Oracle Cloud'. This offering will enable banks globally to leverage Finacle's industry-leading solution suite, along with other enterprise-class applications hosted on premise or in an external environment, to gain agility and cost efficiencies, Infosys said in a statement. With this offering, Finacle becomes one of the first comprehensive banking platforms to be available as a managed service on Oracle Compute Cloud, Infosys said.
Index heavyweight and housing finance major HDFC advanced 1.59% to Rs 1,212.75. The stock hit high of Rs 1,215.45 and low of Rs 1,189.80 so far during the day.
Cement stocks gained on renewed buying. Ambuja Cements (up 1.27%), ACC (up 0.89%), UltraTech Cement (up 1.12%) and Shree Cement (up 0.38%) gained.
Grasim Industries was up 0.16% at Rs 3,683. Grasim has exposure to the cement sector through its holding in UltraTech Cement.
Aditya Birla Chemicals (India) rose 2.23%. Aditya Birla Chemicals (India) said that the Scheme of Amalgamation of the company with Grasim Industries has been sanctioned by the High Court of Jharkhand at Ranchi on 23 November 2015. The announcement was made before market hour today, 24 November 2015.
Realty stocks rose. DLF (up 1.5%), Indiabulls Real Estate (up 0.09%), Housing Development and Infrastructure (up 0.85%), Unitech (up 0.56%), Oberoi Realty (up 0.23%) and Orbit Corporation (up 0.56%) gained. D B Realty (down 0.74%), Sobha (down 0.28%), Godrej Properties (down 0.16%) fell.
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