Local stocks opened on a firm note on buying demand in index pivotals. At 9:22 IST, the barometer index, the S&P BSE Sensex, was up 194.52 points or 0.48% at 41,083.75. The Nifty 50 index was up 50 points or 0.41% at 12,123.75. The Sensex and the Nifty, both, scaled record high in early trade.
The S&P BSE Mid-Cap index was up 0.39%. The S&P BSE Small-Cap index was up 0.4%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 810 shares rose and 277 shares fell. A total of 45 shares were unchanged.
Among stocks, Zee Entertainment Enterprises lost 2.88%. The board of Zee Entertainment Enterprises completed the process of reconstitution of the board and appointed three new independent directors in lieu of two independent and one nominee Director of Essel Group, namely Niharika Vora, Sunil Sharma and Subodh Kumar, respectively. The founder of ZEE, Subhash Chandra, expressed his intent to step aside as the Chairman of the company. The board accepted his resignation with regret and applauded his vision for the company and the industry at large.
Ashok Leyland rose 0.66%. Ashok Leyland signed a Memorandum of Understanding (MoU) with lClCl Bank to enter into a strategic financing partnership for two years. This MoU will enable both Ashok Leyland and ICICI Bank to offer customised financial solution to customers across India with focus on semi-urban and rural geographies.
Goodyear India rose 1.61%. Goodyear India said that the company has decided to close its manufacturing operations of the plant situated at Ballabgarh, (District-Faridabad) Haryana, from 25 November 2019 to 30 November 2019 (both days inclusive) to align production in line with the market demand.
Aarti Industries rose 1.88%. Aarti Industries said that the company has incorporated two wholly-owned subsidiaries namely Aarti Organics and Aarti Bharuch. Aarti Organics and Aarti Bharuch are yet to commence business operations.
Overseas, most Asian stocks are trading higher on growing hopes that the world's top two economies will reach an agreement soon.
Major U.S. stock-market benchmarks ended Monday's session at records as investors remained attuned to developments in the U.S.-China trade relationship and cheered a wave of merger activity. All three benchmarks also set new intraday highs on Monday.
On the economic front, the Chicago Fed's national activity index for October fell to a reading of negative 0.71, from negative 0.45 in the previous month. The Dallas Fed manufacturing index rose to a negative 1.3 in November from negative 5.1 in October.
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