Key benchmark indices pared intraday gains in mid-morning trade. At 11:19 IST, the barometer index, the S&P BSE Sensex, was up 108.74 points or 0.33% at 33,265.96. The Nifty 50 index was up 46.30 points or 0.45% at 10,369.35.
The Sensex and the Nifty, both, hit their record high levels in morning trade. The Sensex rose 174.84 points, or 0.53% at the day's high of 33,332.06 in morning trade, its record high level. The index rose 49.71 points, or 0.15% at the day's low of 33,206.93 at the onset of trading session. The Nifty rose 60.75 points, or 0.59% at the day's high of 10,383.80 in morning trade, its record high level. The index rose 21.25 points, or 0.21% at the day's low of 10,344.30 at the onset of trading session.
Among secondary barometers, the BSE Mid-Cap index was up 1.11%. The BSE Small-Cap index was up 1.13%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,666 shares rose and 743 shares fell. A total of 115 shares were unchanged.
FMCG shares were in demand. Jyothy Laboratories (up 4.36%), Tata Global Beverages (up 3%), Bajaj Corp (up 1.96%), Nestle India (up 0.91%), Marico (up 0.9%), Britannia Industries (up 0.67%), Hindustan Unilever (up 0.59%), GlaxoSmithKline Consumer Healthcare (up 0.52%), Godrej Consumer Products (up 0.44%), Procter & Gamble Hygiene & Health Care (up 0.21%) and Colgate Palmolive (India) (up 0.07%), edged higher. Dabur India was down 0.28%.
Cement shares were in demand. Ambuja Cements (up 2.01%), ACC (up 1.98%) and UltraTech Cement (up 0.79%), edged higher.
Grasim Industries was up 0.58%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
Tata Metaliks rose 2.96% after net profit surged 54.4% to Rs 33.55 crore on 39.5% growth in net sales to Rs 450.24 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours on Friday, 27 October 2017.
Overseas, Asian stocks were trading on a mixed note as investors awaited an announcement on who will helm the US Federal Reserve.
In the US, the S&P 500 and Nasdaq Composite closed at records on Friday, 27 October 2017, fueled by large gains in technology shares following better-than-expected quarterly results from heavyweights Amazon.com Inc., Microsoft Corp., Alphabet Inc. and Intel Corp. Equities were also buoyed by data showing the US economy expanded at a solid 3% annual pace for a second straight quarter despite damages from two hurricanes, while the University of Michigan reported consumer sentiment in October was the strongest it has seen in 13 years. The S&P 500 gained 0.8%, the Dow Jones Industrial Average rose 0.1% and the Nasdaq Composite Index meanwhile, advanced 2.2%.
According to reports, US President Donald Trump will interview Janet Yellen Thursday, 2 November 2017, about potentially staying on as chair of the Federal Reserve after her first term ends in February. Yellen was appointed to the fed by former President Barack Obama in 2014. She is the first female head of the institution, which sets the country's monetary policy and regulates its major banks.
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