Benchmark indices hovered with modest gains in early afternoon trade after a higher opening triggered by positive global cues. At 12:19 IST, the barometer index, the S&P BSE Sensex, was up 146.21 points or 0.54% at 27,045.77. The Nifty 50 index was up 56.80 points or 0.69% at 8,345.40. The Sensex was currently hovering above the psychological 27,000 level after crossing that level in early trade.
The BSE Mid-Cap index was up 0.98%. The BSE Small-Cap index was up 0.89%. Both these indices outperformed the Sensex.
The Sensex rose 179.13 points or 0.66% at the day's high of 27,078.69 in morning trade, its highest level since 11 November 2016. It rose 78.88 points or 0.29% at the day's low of 26,978.44 in early trade. The Nifty rose 59.15 points or 0.71% at the day's high of 8,347.75 in early afternoon trade, its highest level since 11 November 2016. It rose 33.65 points or 0.4% at the day's low of 8,322.25 in early trade.
Overseas, Asian stock indices edged higher tracking mostly positive closing on the Wall Street overnight. Japan's Nikkei 225 Average settled 0.33% higher. Japan's leading index strengthened to the highest level in 15 months in November, survey data from the Cabinet Office showed today, 11 January 2017. The leading index, which measures the future economic activity, rose to 102.7 in November from 100.8 in October. The coincident index improved to 115.1, from 113.5 in October. The coincident indicator reflects the current economic activity.
US equities closed higher yesterday, 10 January 2017, as the Nasdaq composite notched a fresh record high.
Closer home, broad market depicted strength. There were nearly two gainers against every loser on the BSE. 1,648 shares rose and 854 shares declined. A total of 141 shares were unchanged.
Pharma stocks were mixed. Lupin (up 1.92%), Sun Pharmaceutical Industries (up 0.94%), Aurobindo Pharma (up 0.48%) and Glenmark Pharmaceuticals (up 0.54%) edged higher. Cipla (down 0.39%), Wockhardt (down 0.06%), Alkem Laboratories (down 0.14%) and Dr Reddy's Laboratories (down 0.04%) edged lower.
IT stocks also witnessed mixed trend. HCL Technologies (down 0.86%), TCS (down 0.84%), Infosys (down 0.57%) and Tech Mahindra (down 0.55%) edged lower. Oracle Financial Services Software (up 0.88%), Wipro (up 0.57%) and Persistent Systems (up 0.33%) edged higher.
BPCL was up 0.01%. The company said its indirect wholly owned subsidiary, BPRL International Singapore Pte (BISPL) has launched an issue of $600 million fixed rate senior unsecured guaranteed notes due 2027 which were priced on 10 January 2017 in the international debt capital markets. The notes carry a coupon rate of 4.375% per annum payable semi-annually and are expected to be settled by 18 January 2017.
The proceeds will be utilized for partial repayment of bridge loans availed by BISPL in October 2016 for financing its acquisition of stakes in two Russian companies in consortium with two other Indian oil & gas companies. The announcement was made during market hours today, 11 January 2017.
Suzlon Energy rose 3.01% after the company said it secured a 226.80 megawatt contract from an independent power producer. The announcement was made during market hours today, 11 January 2017.
Chembond Chemicals advanced 2.48% after the company said that the company has entered into a share purchase agreement (SPA) with I-Chem Solution Sdn Bhd, Malaysia and I Chembond Water Sdn Bhd, Malaysia, whereby the company, would acquire additional 49% of the equity shares of I Chembond Water Sdn Bhd, Malaysia.
Post fulfillment of all the necessary terms, conditions & requirements as mentioned in the SPA, the company would hold 100% of equity share capital of I Chembond Water Sdn Bhd, Malaysia. Further, pursuant to the fulfillment of the terms of the SPA, the joint venture (JV) agreement with I-Chem Solution Sdn Bhd, Malaysia stands terminated. The announcement was made after market hours yesterday, 10 January 2017.
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