Key benchmark indices traded in a narrow range in positive zone in afternoon trade. At 13:15 IST, the barometer index, the S&P BSE Sensex, was up 53.76 points or 0.21% at 25,818.90. The gains of the Nifty 50 index were higher than the Sensex's gains in percentage terms. The Nifty was currently up 31.10 points or 0.39% at 7,960.20. Firmness in Asian stocks supported gains on the domestic bourses. The market breadth indicating the overall health of the market was negative. On BSE, 1,315 shares fell and 1,051 shares rose. A total of 158 shares were unchanged. The BSE Mid-Cap index was currently up 0.25%, outperforming the Sensex. The BSE Small-Cap index was currently down 0.09%, underperforming the Sensex.
IT stocks were mixed. Tech Mahindra (up 1.18%), HCL Technologies (up 0.77%), Infosys (up 0.7%) and TCS (up 0.65%) edged higher. Oracle Financial Services Software (down 2.45%), Persistent Systems (down 0.57%) and Wipro (down 0.08%) edged lower.
Stocks of public sector banks declined. IDBI Bank (down 1.98%), State Bank of India (down 1.98%), Bank of India (down 1.92%), Punjab National Bank (down 1.1%) and Bank of Baroda (down 0.77%) edged lower. Corporation Bank (up 2.03%) edged higher.
Stocks of private sector banks were mixed. RBL Bank (up 0.63%), IndusInd Bank (up 0.29%), Kotak Mahindra Bank (up 0.24%) and Yes Bank (up 0.02%) edged higher. HDFC Bank (down 0.29%) and ICICI Bank (down 0.13%) edged lower.
Axis Bank was down 1.19%. The bank after market hours yesterday, 21 November 2016, said it proposes to raise funds by issuing unsecured redeemable non-convertible subordinated debentures aggregating Rs 1800 crore.
RattanIndia Infrastructure fell 1.67% at Rs 2.94 on the BSE after Morgan Stanley Asia (Singapore) sold 95.47 lakh shares of the company at Rs 3.03 per share in a bulk deal on the NSE yesterday, 21 November 2016. Morgan Stanley Asia (Singapore) held 1.626% stake in RattanIndia Infrastructure end September 2016.
In overseas stock markets, Asian stocks edged higher in the wake of impressive gains in US markets overnight. US stocks closed higher at fresh record highs yesterday, 21 November 2016, aided by a jump in oil prices and a pullback in the dollar, giving the indices their third simultaneous all-time closing highs this year. Global risk assets, led by US stocks and the dollar, have led gains since Republican Donald Trump's upset election win early this November. Expectations that Trump's administration will usher in expansionary fiscal policies have seen a dramatic selloff in US Treasuries and fueled a surge in the dollar.
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