The Sensex held firm at higher level after hitting fresh intraday high in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was up 253.58 points or 0.81% at 31,614.21. The Nifty 50 index resumed its trading at 12:30 IST. The Nifty 50 index was up 68.60 points or 0.71% at 9,734.40. Trading was halted temporarily in both cash and derivatives segment of NSE due to technical reasons. Buoyant global stocks lifted sentiment on the domestic bourses today.
Domestic stocks kick-started trading for the week on a upbeat note on positive Asian stocks. The Sensex was trading firm in morning and mid-morning trade.
The S&P BSE Mid-Cap index was up 0.53%. The S&P BSE Small-Cap index was up 0.43%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,537 shares rose and 933 shares fell. A total of 122 shares were unchanged.
Metal shares rose. Jindal Steel & Power (up 1.86%), Bhushan Steel (up 1.66%), NMDC (up 1.64%), Steel Authority of India (up 1.22%), National Aluminium Company (up 0.89%), Vedanta (up 0.80%), Hindustan Copper (up 0.77%), JSW Steel (up 0.76%) and Hindustan Zinc (up 0.37%), edged higher. Tata Steel (down 0.04%) and Hindalco Industries (down 0.05%), edged lower.
Meanwhile, copper price edged lower in the global commodities markets. High Grade Copper for September 2017 delivery was currently down 0.13% at $2.6435 per pound on the COMEX.
FMCG shares were mixed. Colgate Palmolive (India) (up 0.76%), Tata Global Beverages (up 0.32%), Marico (up 0.31%), Godrej Consumer Products (up 0.24%), Britannia Industries (up 0.19%) and Dabur India (up 0.03%), edged higher. GlaxoSmithKline Consumer Healthcare (down 0.12%), Jyothy Laboratories (down 0.14%), Bajaj Corp (down 0.39%), Procter & Gamble Hygiene & Health Care (down 0.57%), Hindustan Unilever (down 0.66%) and Nestle India (down 0.67%), edged lower.
Overseas, European shares opened higher, with sentiment helped by Wall Street's strong performance on Friday and gains in Asia today, after US jobs report beat estimates and Chinese inflation data came in line with forecasts.
Most Asian stocks were trading higher after a stronger-than-expected US jobs data reinstated confidence in global growth.
Consumer prices in China rose an annual 1.5% in June, the National Bureau of Statistics said. That was unchanged from the May reading. The bureau also said that producer prices were up 5.5% on year, an unchanged pace and in line with expectations.
US stocks finished higher on Friday, 7 July 2017 as tech stocks rebounded from a slump and the jobs report showed a higher-than-expected gain for June. The Fed, in its semiannual monetary policy report, forecast a gradual hike in interest rates and a wind down of the balance sheet as the economy continues its steady pace of expansion. Meanwhile, the Group of 20 meeting of world leaders made little impact on markets, as there was less discord than expected.
In economic data, an employment report showed the US added 222,000 jobs in June, representing the second-largest job haul of the year and underscoring that the labor market remains healthy. The Labor Department said unemployment ticked up to 4.4% from 4.3%.
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