Amid strong buying support, key benchmark indices hit fresh intraday high in mid-morning trade. At 11:17 IST, the barometer index, the S&P BSE Sensex, was up 223.19 points or 0.84% at 26,856.32. The Nifty 50 index was currently up 64.85 points or 0.79% at 8,255.35.
The Sensex hit its highest intraday level in almost two months in mid-morning trade. The Nifty hit its highest intraday level in almost one month in mid-morning trade. The Sensex rose 229.72 points, or 0.86% at the day's high of 26,862.85 in mid-morning trade, its highest level since 11 November 2016. The index rose 105.29 points, or 0.40% at the day's low of 26,738.42 at the onset of trading session. The Nifty rose 65.40 points, or 0.80% at the day's high of 8,255.90 in mid-morning trade, its highest level since 9 December 2016. The index rose 33.20 points, or 0.41% at the day's low of 8,223.70 at the onset of trading session.
Among secondary barometers, the BSE Mid-Cap index was currently up 0.96%. The BSE Small-Cap index was currently up 0.95%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than three gainers against every loser on BSE. 1,773 shares rose and 574 shares fell. A total of 113 shares were unchanged.
IT stocks edged higher. HCL Technologies (up 1.02%), MphasiS (up 0.97%), MindTree (up 0.88%), Infosys (up 0.86%), Tech Mahindra (up 0.43%), Oracle Financial Services Software (up 0.38%) and TCS (up 0.15%), edged higher. Prsistent Systems (down 0.34%) and Hexaware Technologies (down 1.48%), edged lower.
IT major Wipro rose 1.86% after the company announced that its Digital TV Middleware solution has successfully enabled Hisense 4K TVs in Japan. Hisense Co. is a multinational white goods, brown goods and electronics manufacturer. The Wipro solution supports Hisense 4k TV product features ISDB-T/S Broadcast and HD-PVR to enable a premium viewing experience for customers. The announcement was made before market hours today, 5 January 2017.
Most FMCG shares edged higher. GlaxoSmithKline Consumer Healthcare (up 1.67%), Marico (up 1.01%), Hindustan Unilever (up 0.85%), Tata Global Beverages (up 0.68%), Jyothy Laboratories (up 0.57%), Dabur India (up 0.56%), Colgate Palmolive (India) (up 0.51%), Bajaj Corp (up 0.48%), Procter & Gamble Hygiene & Health Care (up 0.48%) and Britannia Industries (up 0.21%), edged higher. Nestle India (down 0.13%) and Godrej Consumer Products (down 0.28%), edged lower.
Petron Engineering Construction jumped 6.5% after the company said that it has received letter of intent from Shree Cement for civil work at its project in Orissa. The letter of intent is for civil work of plant building and silos and miscellaneous work at Shree Cement's Orissa grinding project at village, Chandrabali, District, Cuttack, Orissa for contract value of around Rs 33 crore. The announcement was made after market hours yesterday, 4 January 2017.
Overseas, Asian stocks were mixed. Japan's Nikkei 225 was down 0.59%. US stocks closed just shy of record levels yesterday, 4 January 2017, following the release of the Federal Reserve's policy minutes from its December meeting and a strong showing in auto sales.
The Fed said interest-rate hikes may come at a faster-than-expected pace, according to minutes from the Federal Open Market Committee's 13-14 December 2016 meeting.
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