The stock market trimmed intraday gains in mid-morning trade. At 11:15 IST, the barometer index, the S&P BSE Sensex advanced 144.95 points or 0.44% at 33,395.25. The Nifty 50 index rose 39.40 points or 0.38% at 10,305.05.
Key indices started the session on a firm note on positive Asian stocks after stronger finish on the Wall Street fueled by stronger-than-expected jobs report. Indices traded with modest gains in morning trade before trimming gains in mid-morning trade.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.12%. The S&P BSE Small-Cap index advanced 0.43%. Both the indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was strong. On the BSE, 1,439 shares rose and 939 shares declined. A total of 137 shares were unchanged.
Shares of key telecom and telecom tower infrastructure providers were mixed. Bharti Airtel (up 0.71%) and Idea Cellular (up 0.1%) edged higher. Reliance Communications (down 0.34%) and Bharti Infratel (down 0.6%) declined.
Realty stocks were mixed. Unitech (up 15.09%), Sobha (up 0.99%), DLF (up 0.52%), Godrej Properties (up 0.49%) and D B Realty (up 0.28%) advanced. Oberoi Realty (down 1.57%), Prestige Estates Projects (down 1.16%), Indiabulls Real Estate (down 1%) and HDIL (down 0.18%) declined.
Ucal Fuel Systems was locked at 20% upper circuit at Rs 235.20 after net profit surged 99% to Rs 15.98 crore on 4.8% rise in net sales to Rs 158.50 crore in Q2 September 2017 over Q2 September 2016. The result was announced on Saturday, 9 December 2017.
Thyrocare Technologies rose 1.19% at Rs 675.80 after consolidated net profit spurted 2007.7% to Rs 24.66 crore on 12.7% rise in net sales to Rs 88.04 crore in Q2 September 2017 over Q2 September 2016. The result was announced on Saturday, 9 December 2017.
Among other news, Gujarat recorded a polling of 68% in the first phase of assembly elections for 89 assembly constituencies held on Saturday, 9 December 2017. The second phase polling will take place on 14 December 2017 in 93 assembly constituencies. Counting of votes will take place on 18 December 2017. The Gujarat assembly has 182 seats.
The provisional figures of direct tax collections up to November, 2017 showed that net collections are at Rs 4.8 lakh crore which is 14.4% higher than the net collections for the corresponding period of last year. The net direct tax collections represent 49% of the total Budget Estimates of direct taxes for the FY 2018, according to the data released by the government on Sunday, 10 December 2017.
Overseas, Asian stocks edged higher following strong finish on the Wall Street on Friday. China's consumer inflation slowed more than expected in November and factory prices decelerated sharply, official data showed Saturday, 9 December 2017. The consumer price index (CPI) a main gauge of inflation rose by 1.7% in November from a year ago, compared to a 1.9% increase the previous month and 1.6% in September, said the National Bureau of Statistics.
US equities closed higher on Friday, 8 December 2017, following the release of a stronger-than-expected jobs report. The US economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. The unemployment rate held steady at 4.1%.
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