Key benchmark indices were hovering in positive terrain in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex advanced 107.24 points or 0.32% at 33,357.54. The Nifty 50 index rose 25.80 points or 0.25% at 10,291.45.
The Sensex surged 200.01 points, or 0.6%, at the day's high of 33,450.31 in early trade, its highest level since 30 November 2017. The index rose 62.87 points, or 0.19%, at the day's low of 33,313.17 in early afternoon trade. The Nifty advanced 56.75 points, or 0.55%, at the day's high of 10,322.40 in early trade, its highest level since 30 November 2017. The index rose 16.40 points, or 0.16%, at the day's low of 10,282.05 in early afternoon trade.
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. Indices were hovering in positive terrain in afternoon trade.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.18%, underperforming the Sensex. The S&P BSE Small-Cap index advanced 0.41%, outperforming the Sensx.
The breadth, indicating the overall health of the market, was positive. On the BSE, 1,431 shares rose and 1,153 shares declined. A total of 148 shares were unchanged.
Metal shares were mixed. National Aluminium Company (down 1.46%), Jindal Steel & Power (down 1.21%), JSW Steel (down 1.09%), Hindalco Industries (down 0.71%), Steel Authority of India (down 0.37%), Vedanta (down 0.19%) and NMDC (down 0.04%), edged lower. Hindustan Copper (up 0.27%), Tata Steel (up 0.27%), Bhushan Steel (up 0.38%) and Hindustan Zinc (up 0.46%), edged higher.
Pharmaceutical shares were mixed. Wockhardt (up 5.54%), Aurobindo Pharma (up 2.22%), Lupin (up 2.07%), Strides Shasun (up 1.92%), Sun Pharmaceutical Industries (up 1.36%), Glenmark Pharmaceuticals (up 1.24%), Cadila Healthcare (up 1.04%), Dr Reddy's Laboratories (up 0.69%) and Piramal Enterprises (up 0.57%), edged higher. Cipla (down 0.38%), GlaxoSmithKline Pharmaceuticals (down 0.64%), Divi's Laboratories (down 0.89%), IPCA Laboratories (down 1.6%) and Alkem Laboratories (down 1.74%), edged lower.
Parag Milk Foods jumped 9.35% to Rs 267.20 after the company said that it has joined hands with Taj Group to supply its products on international flights. Parag Milk Foods said that all its products are in line with global quality standards which gave it the opportunity to supply to TajSATS Air Catering since August 2017. Taj has exclusive rights to serve Parag Milk Foods' products to international customers who are introduced to the goodness of 100% cow milk based products. The announcement was made during market hours today, 11 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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