Trading for the week started on a positive note as key benchmark indices edged higher as firmness in European stocks lifted sentiment. The barometer index, the S&P BSE Sensex, rose 150.32 points or 0.55% to settle at 27,364.92. The 50-unit CNX Nifty rose 36.90 points or 0.45% to settle at 8,275.05. Key indices remained in positive terrain throughout the session. The announcement from the finance ministry that it will seek the views of foreign portfolio investors (FPIs) on measures to simplify the procedures and documentation for registration of FPIs in India and deepening of corporate bond market also boosted sentiment on the bourses. Key indices gained for the third straight session.
The market breadth indicating the overall health of the market was positive. On BSE, 1,563 shares rose and 1,159 shares fell. A total of 162 shares were unchanged. The BSE Mid-Cap index rose 0.69%. The BSE Small-Cap index rose 0.77%. Both these indices outperformed the Sensex.
Among sectoral indices on BSE, the BSE Capital Goods index (down 0.91%), the BSE Metal index (down 0.56%), and the S&P Consumer Durables index (down 0.36%) underperformed the Sensex. The BSE Realty index (up 2.57%), the S&P BSE Healthcare index (up 1.26%) and the S&P BSE IT index (up 1.11%) outperformed the Sensex.
The yield on 10-year benchmark federal paper, 7.72% GS 2025, rose 1 basis point to 7.57% at 15.32 IST, compared with 7.56% at close in the previous trading session. The total trading volume on the central bank's gilts trading platform stood at Rs 19505 crore. The weighted average rate in the overnight call money increased to 6.71% at 15.32 IST compared with 6.09% in the previous session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was currently hovering at 64.82, compared with its close of 64.81 during the previous trading session.
In global commodities markets, Brent crude oil futures edged higher. Brent for December settlement was currently down 76 cents at $49.70 a barrel. The contract had risen 73 cents or 1.46% to settle at $50.46 a barrel during the previous trading session.
In overseas stock markets, European stocks edged higher as fears of a hard landing of the Chinese economy receded after a batch of latest economic data. Asian stocks were mixed after the latest data showed China's GDP growth slowed to 6.9% in Q3 September 2015, slipping below 7% for the first time since 2009. US stocks edged higher during the previous trading session on Friday, 16 October 2015, as investors appeared to shrug off lackluster corporate earnings and mixed economic data.
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