Key benchmark indices were trading higher in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex rose 139.25 points or 0.42% at 33,367.24. The Nifty 50 index advanced 48.25 points or 0.47% at 10,288.40.
Key indices started the session on a subdued note and traded in negative zone till morning trade on mixed Asian cues, data showing surge in India's consumer price inflation and a moderate growth in industrial production. Indices reversed losses in mid-morning trade.
The Sensex advanced 176.27 points, or 0.53%, at the day's high of 33,404.26 in afternoon trade. The index fell 104.55 points, or 0.31%, at the day's low of 33,123.44 in early trade, its lowest level since 8 December 2017. The Nifty advanced 56.40 points, or 0.55%, at the day's high of 10,296.55 in early afternoon trade. The index fell 29.60 points, or 0.28%, at the day's low of 10,210.55 in early trade, its lowest level since 8 December 2017.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.16%. The S&P BSE Small-Cap index advanced 0.29%. Both the indices underperformed the Sensex.
The breadth, indicating the overall health of the market, was positive. On the BSE, 1,373 shares rose and 1,136 shares declined. A total of 134 shares were unchanged.
Power generation stocks were mixed. Adani Power (up 1.58%), GMR Infrastructure (up 1.17%), Reliance Infrastructure (up 1.02%), NHPC (up 0.35%), Tata Power (up 0.22%) and CESC (up 0.14%), edged higher. NTPC (down 0.03%), Reliance Power (down 0.14%), JSW Energy (down 0.31%), Torrent Power (down 0.86%) and Jaiprakash Power Ventures (down 2.65%), edged lower.
State-run Power Grid Corporation of India was down 0.62%. State-run Coal India was up 0.23%.
Pharmaceutical shares were mixed. Piramal Enterprises (down 1.74%), Divi's Laboratories (down 0.74%), Alkem Laboratories (down 0.7%), Glenmark Pharmaceuticals (down 0.7%), Wockhardt (down 0.68%), Cipla (down 0.36%), Cadila Healthcare (down 0.22%) and GlaxoSmithKline Pharmaceuticals (down 0.13%), edged lower. Sun Pharmaceutical Industries (up 0.52%), Aurobindo Pharma (up 0.55%), Strides Shasun (up 0.55%), Dr Reddy's Laboratories (up 0.57%), Lupin (up 0.65%) and IPCA Laboratories (up 0.76%), edged higher.
Jindal Worldwide rose 2.60% after net profit rose 26.2% to Rs 20.40 crore on 40.3% rise in net sales to Rs 394.37 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 12 December 2017.
On the macro front, the all-India general inflation based on the consumer price index (CPI) surged to 4.88% in November 2017, compared with 3.58% in October 2017. The core CPI inflation increased to 4.69% in November 2017 compared with 4.4% in October 2017. The inflation data was released by the government after market hours yesterday, 12 December 2017.
India's industrial production rose at moderated pace of 2.2% in October 2017 over October 2016, while showing a deceleration in growth from 4.1% increase in September 2017, data released by the government after market hours yesterday, 12 December 2017 showed.
Overseas, Asian stocks were mixed as investors awaited the conclusion of the Federal Reserve's two-day policy meeting. US stocks rose yesterday, 12 December 2017 amid growing optimism that Republican lawmakers would be able to revamp the corporate tax system. Wall Street also looked to the Federal Reserve as its two-day policy meeting kicked off.
The US Federal Reserve's Federal Open Market Committee (FOMC) two-day meeting, on interest rate decision, began yesterday, 12 December 2017. The Federal Reserve left the target range for its federal funds rate unchanged at 1% to 1.25% during its November 2017 meeting as widely expected.
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