Gains in European stocks triggered recovery on the domestic bourses as the barometer index, the S&P BSE Sensex, and the 50-unit Nifty 50 index, once again moved into the green from red. At 14:17 IST, the Sensex was up 67.46 points or 0.26% at 26,101.59. Nifty's gains were lower in percentage terms compared with the gains for the Sensex. The Nifty was currently up 11.95 points or 0.15% at 7 7,937.10. The Sensex was currently trading well above the psychological 26,000 level. The index had briefly slipped below that level in afternoon trade.
The Sensex shed 39.68 points or 0.15% at the day's low of 25,994.45 in afternoon trade. The index gained 99.65 points or 0.38% at the day's high of 26,133.78 in early trade, its highest level since 2 December 2015. The Nifty fell 22.40 points or 0.28% at the day's low of 7,902.75 in afternoon trade. The index rose 17 points or 0.21% at the day's high of 7,942.15 in early trade, its highest level since 2 December 2015.
In overseas stock markets, European stocks edged higher. Asian stocks hovered in positive zone. US stocks edged lower yesterday, 28 December 2015, weighed down by a drop in energy stocks as global crude oil prices fell.
Closer home, the market breadth indicating the overall health of the market was negative. On BSE, 1,389 shares fell and 1,165 shares rose. A total of 236 shares were unchanged. The BSE Mid-Cap index was currently up 0.48%, outperforming the Sensex. The BSE Small-Cap index was currently down 0.05%, underperforming the Sensex.
Capital goods stocks dropped. Havells India (down 0.02%), L&T (down 0.27%), Thermax (down 1.52%), Crompton Greaves (down 0.05%) and Siemens (down 0.14%) declined. BEML rose 0.15%.
Bharat Heavy Electricals (Bhel) declined 1.57%. The company announced during market hours today, 29 December 2015, that it has commissioned another 660 megawatts (MW) supercritical thermal power plant at the upcoming 3x600 MW Prayagraj Super Thermal Power Project (STPP) at Bara in Allahabad district of Uttar Pradesh. One more 660 MW unit at Lalitpur, also in Uttar Pradesh, and two units of 660 MW each at Bara are in advanced stage of construction, Bhel said. In addition, one 500 MW unit at Anpara thermal power station in Uttar Pradesh is also nearing completion, the company added.
Bhel has already commissioned 4,410 MW of power plants in the utility sector during the current financial year and is on track to achieve the target set by the government for the year, the company said in a statement.
Shares of public sector banks declined. Punjab National Bank (down 0.04%), Bank of Baroda (down 0.54%), State Bank of India (SBI) (down 0.01%), Union Bank of India (down 0.72%), Canara Bank (down 0.12%), and Bank of India (down 0.89%) edged lower.
Shares of private sector banks rose. Axis Bank (up 0.96%), ICICI Bank (up 0.7%), Kotak Mahindra Bank (up 0.48%), Yes Bank (up 0.4%), HDFC Bank (up 0.18%) and IndusInd Bank (up 0.36%) edged higher.
Credit Analysis and Research jumped 7.3% after the company said it has signed a memorandum of understanding (MoU) with Japan Credit Rating Agency (JCR) to collaborate with each other as strategic business partners. Both the firms have agreed to cooperate with each other to maximize their support for the Indian and Japanese companies' funding and other business activities. The company made the announcement during trading hours today, 29 December 2015.
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