Key benchmark indices further trimmed intraday gains in early afternoon trade. At 12:15 IST, the barometer index, the S&P BSE Sensex advanced 82.31 points or 0.25% at 33,332.61. The Nifty 50 index rose 23.90 points or 0.23% at 10,289.55.
The Sensex surged 200.01 points, or 0.6%, at the day's high of 33,450.31 in early trade, its highest level since 30 November 2017. The index rose 62.87 points, or 0.19%, at the day's low of 33,313.17 in early afternoon trade. The Nifty advanced 56.75 points, or 0.55%, at the day's high of 10,322.40 in early trade, its highest level since 30 November 2017. The index rose 20.05 points, or 0.19%, at the day's low of 10,285.70 in early afternoon trade.
Key indices started the session on a firm note on positive Asian stocks after stronger finish on the Wall Street fueled by stronger-than-expected jobs report. Indices traded with modest gains in morning trade before trimming gains in mid-morning trade.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.07%, underperforming the Sensex. The S&P BSE Small-Cap index advanced 0.43%, outperforming the Sensx.
The breadth, indicating the overall health of the market, was strong. On the BSE, 1,401 shares rose and 910 shares declined. A total of 124 shares were unchanged.
Auto stocks edged higher. Mahindra & Mahindra (up 2.16%), Eicher Motors (up 1.6%), Maruti Suzuki India (up 0.98%), TVS Motor Company (up 0.93%) and Hero MotoCorp (up 0.25%) gained. Bajaj Auto (down 0.72%), Ashok Leyland (down 0.21%) and Escorts (down 0.01%) declined.
Tata Motors was up 0.04%. The company said it would be increasing prices of its entire passenger vehicles in the range by up to Rs 25,000, starting January 2018. This increase in price is due to rising input costs, it said. The announcement was made during market hours today, 11 December 2017.
IT stocks nudged higher. HCL Technologies (up 1.1%), Tech Mahindra (up 0.97%), Wipro (up 0.79%) and TCS (up 0.65%) gained. Infosys (down 0.4%) declined.
Power Grid Corporation of India (PGCIL) was up 0.22% at Rs 203.35 after the company said its board at a meeting held on 8 December 2017, accorded approval for two investment proposals aggregating to Rs 268.53 crore. The announcement was made after market hours on Friday, 8 December 2017.
Separately, PGCIL said that it has entered into loan agreement with Asian Infrastructure Investment Bank (AIIB) on 7 December 2017 for an amount of $100 million for funding of HVDC Bipole link between western region and southern region. The announcement was made after market hours on Friday, 8 December 2017.
Suven Life Sciences dropped 2.29% at Rs 190.10. The company announced the grant of one product patent from India and one product patent from USA corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases. These patents are valid through 2029 and 2033 respectively. The announcement was made during market hours today, 11 December 2017.
Among other news, Gujarat recorded a polling of 68% in the first phase of assembly elections for 89 assembly constituencies held on Saturday, 9 December 2017. The second phase polling will take place on 14 December 2017 in 93 assembly constituencies. Counting of votes will take place on 18 December 2017. The Gujarat assembly has 182 seats.
The provisional figures of direct tax collections up to November, 2017 showed that net collections are at Rs 4.8 lakh crore which is 14.4% higher than the net collections for the corresponding period of last year. The net direct tax collections represent 49% of the total Budget Estimates of direct taxes for the FY 2018, according to the data released by the government on Sunday, 10 December 2017.
Overseas, Asian stocks edged higher following strong finish on the Wall Street on Friday. China's consumer inflation slowed more than expected in November and factory prices decelerated sharply, official data showed Saturday, 9 December 2017. The consumer price index (CPI) a main gauge of inflation rose by 1.7% in November from a year ago, compared to a 1.9% increase the previous month and 1.6% in September, said the National Bureau of Statistics.
US equities closed higher on Friday, 8 December 2017, following the release of a stronger-than-expected jobs report. The US economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. The unemployment rate held steady at 4.1%.
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