Key benchmark indices extended early gains and hit fresh intraday high in morning trade. At 10:20 IST, the barometer index, the S&P BSE Sensex, was up 132.32 points or 0.38% at 34,583.09. The Nifty 50 index was up 12.70 points or 0.12% at 10,597.40.
Key indices opened higher and extended gains as the session progressed. The Sensex rose 156.04 points, or 0.45% at the day's high of 34,606.81 in morning trade. The index rose 14.72 points, or 0.04% at the day's low of 34,465.49 in morning trade. The Nifty rose 25.15 points, or 0.24% at the day's high of 10,609.85 in morning trade. The index fell 11.50 points, or 0.11% at the day's low of 10,573.20 in morning trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.53%. The BSE Small-Cap index was up 0.45%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,215 shares rose and 815 shares fell. A total of 110 shares were unchanged.
Metal shares fell across the board. National Aluminium Company (down 9.01%), Hindalco Industries (down 8.15%), Vedanta (down 3.39%), Hindustan Copper (down 2.61%), Jindal Steel & Power (down 1.8%), Tata Steel (down 1.59%), Hindustan Zinc (down 1.53%), Steel Authority of India (down 1.13%), JSW Steel (down 0.54%) and NMDC (down 0.24%), edged lower.
Power generation stocks were mixed. NTPC (up 0.09%), GMR Infrastructure (up 0.51%), CESC (up 0.56%), Tata Power (up 0.82%) and Torrent Power (up 1.50%), edged higher. Jaiprakash Power Ventures (down 1.17%) and Reliance Power (down 0.91%), JSW Energy (down 0.66%), Adani Power (down 0.39%) and NHPC (down 0.18%), edged lower.
State-run Coal India was up 0.45%. State-run Power Grid Corporation of India was down 0.46%.
Overseas, Asian shares are mixed with a decline in tech shares and rising US bond yields weighing on investor sentiment. S stocks ended on a mixed note as investors grappled with rising bond yields and a mixed bag of earnings reports. The closely watched yield on the 10-year Treasury note climbed, settling just below the psychologically important 3% level.
The Chicago Fed national activity index for March declined to 0.10 from 0.98 in February.
Preliminary readings of the manufacturing and services purchasing managers' indexes for April showed that IHS Markit flash manufacturing PMI rose to 56.5 in April from 55.6, while the flash reading for services showed a climb to 54.4 in April from 54.
Meanwhile, existing-home sales in the US increased 1.1% in March from the previous month to a seasonally annual rate of 5.60 million.
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