Key benchmark indices jumped in early trade, tracking positive leads from Asian markets and overnight rally on the Wall Street. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 314.13 points or 0.88% at 35,964.07. The Nifty 50 index was up 88.95 points or 0.83% at 10,818.80. The Nifty opened above 10,800 mark.
Among secondary barometers,the BSE Mid-Cap index was up 0.75%. The BSE Small-Cap index was up 0.67%.
The market breadth, indicating the overall health of the market, was strong. On BSE, 830 shares rose and 182 shares fell. A total of 31 shares were unchanged.
Overseas, Asian shares rose across the board on Thursday following an overnight surge in stocks on Wall Street.
In US, the Dow logged a 1,000-point gain as equities roared back from oversold conditions. Shoppers delivered the strongest holiday sales increase for US retailers in six years, according to Mastercard Spending Pulse, which tracks online and in-store spending with all forms of payment.
On the US data front, the Case-Shiller 20-city price index rose a seasonally adjusted 0.4% in October, while the year-over-year advance fell to 5% from a revised 5.2% in September.
In the global commodities markets, Brent for February 2019 settlement jumped $4 a barrel or 7.93% to settle at $54.47 a barrel during the previous trading session.
Back home, Sun Pharmaceutical Industries was up 1.57%. DUSA Pharmaceuticals, Inc., (DUSA), a wholly owned subsidiary of Sun Pharmaceutical Industries announced that DUSA has been granted preliminary injunctive relief by a federal district court prohibiting defendants Biofrontera Inc., Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AG (together known as Biofrontera) from using DUSA's confidential and proprietary trade secret information. The announcement was made after market hours yesterday, 26 December 2018.
NTPC was down 0.03%. The company said that investment approval has been accorded for Bilhaur Solar PV Project of 140 MW capacity and Auraiya Solar PV Project of 20 MW capacity. The announcement was made after market hours yesterday, 26 December 2018.
Cimmco was down 6.10%. Titagarh Wagons, a part of the promoter group of company will be selling 15,43,090 shares (representing 5.64 percent of total equity) through Offer for Sale (OFS) route on December 27 and 28. The floor price of the offer is Rs 38 per share. The announcement was made after market hours yesterday, 26 December 2018.
Shanthi Gears was down 0.19%. The company's board approved the buyback of fully paid up equity shares of not exceeding 50 lakh equity shares (being 6.12% of the total paid-up equity capital of the company) at Rs 140 for an aggregate amount of up to Rs 70 crore. The announcement was made after market hours yesterday, 26 December 2018.
Meanwhile, the Reserve Bank of India (RBI) on Wednesday constituted an expert committee to review the extant economic capital framework of the central bank. The committee will be headed by Bimal Jalan, former RBI governor, while Rakesh Mohan, former deputy governor and former DEA (Department of Economic Affairs) secretary, is the vice chairman of the committee.
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