Key benchmark indices displayed divergent trend in morning trade. At 10:19 IST, the barometer index, the S&P BSE Sensex, was up 12.30 points or 0.05% at 24,785.27. The 50-unit Nifty 50 index was currently down 2.80 points or 0.04% at 7,534. The Sensex rose 139.67 points, or 0.56% at the day's high of 24,912.64 in early trade. The barometer index fell 36.78 points or 0.15% at the day's low of 24,736.19 in morning trade. The Nifty rose 29.70 points or 0.39% at the day's high of 7,566.50 in early trade. The index fell 19.40 points or 0.25% at the day's low of 7,517.40 in morning trade.
The market breadth indicating the overall health of the market was positive. On BSE, 1,118 shares rose and 828 shares fell. A total of 106 shares were unchanged. The BSE Mid-Cap index was currently up 0.11%. The BSE Small-Cap index was currently up 0.26%. Both these indices outperformed the Sensex.
In overseas stock markets, Chinese stocks led decline in Asian stocks on disappointing Chinese data. In mainland China, the Shanghai Composite was currently off 1.54%. In Hong Kong, the Hang Seng index was currently off 1.28%. The latest data showed new yuan loans in December were well below the previous month's lending and broad M2 money supply growth also slowed. US stocks surged yesterday, 14 January 2016, as a rebound in oil prices allowed the main indexes to claw back much of the steep fall seen in the previous session.
Most realty shares edged higher. Peninsula Land (up 1.70%), D B Realty (up 1.65%), Indiabulls Real Estate (up 1.65%), Phoenix Mills (up 1.59%), Anant Raj (up 1.07%), Oberoi Realty (up 0.95%), DLF (up 0.47%), Prestige Estates Projects (up 0.44%), Sunteck Realty (up 0.36%), Sobha (up 0.30%) and Mahindra Lifespace Developers (up 0.16%), edged higher. Housing Development and Infrastructure (HDIL) (down 0.59%), Godrej Properties (down 0.92%), Unitech (down 1.61%) and Parsvnath Developers (down 1.97%), edged lower.
Most IT shares declined. HCL Technologies (down 1.12%), Wipro (down 0.9%), Hexaware Technologies (down 0.57%), MphasiS (down 0.55%), TCS (down 0.48%) and Tech Mahindra (down 0.18%), edged lower. Persistent Systems (up 0.04%), Oracle Financial Services Software (up 0.21%) and MindTree (up 3.24%), edged higher.
Index heavyweight and IT major Infosys extended previous session's gains triggered by the company raising its revenue growth guidance for the year ending 31 March 2016 (FY 2016) at the time of announcement of its third quarter results. The stock was currently up 1.48% at Rs 1,145.45. The stock hit a high of Rs 1,163.45 and a low of Rs 1,144 in intraday trade. The stock had risen 4.28% to settle at Rs 1,128.70 yesterday, 14 January 2016.
Majesco rose 1.45% after the company announced a strategic partnership with Appulate, the leading provider of forms parsing and data bridging technology. Under the partnership, Majesco will offer Appulate Uplink as an integrated component of Majesco Policy for P&C and Majesco Distribution solutions. The partnership will offer Majesco customers best-of-breed connectivity to any agency management system, improving efficiency and quality while reducing agent data entry. In turn, Appulate will gain a distribution partner that offers market leading solutions for policy and distribution management for insurance carriers.
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