Strength in TCS, Tata Motors and Infosys kept the Sensex firm in morning trade. At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 198.52 points or 0.63% at 31,559.15. Trading was stopped in both cash and F&O segment of NSE due to technical reasons. Buoyant Asian stocks lifted sentiment on the domestic bourses.
Due to technical reasons in cash market, trading has been stopped in both cash and F&O segment of NSE. The technical team of NSE is looking into the issue and market re-open time will be intimated shortly, NSE said. Meanwhile, NSE in its latest update said that trading has has been further delayed.
Domestic stocks kick-started trading for the week on a upbeat note on positive Asian stocks. The Sensex was trading firm in morning trade.
The S&P BSE Mid-Cap index was up 0.36%. The S&P BSE Small-Cap index was up 0.51%. Both these indices underperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,520 shares rose and 759 shares fell. A total of 107 shares were unchanged.
Overseas, Asian stocks were trading higher after a stronger-than-expected US jobs data reinstated confidence in global growth. US stocks finished higher on Friday, 7 July 2017 as tech stocks rebounded from a slump and the jobs report showed a higher-than-expected gain for June.
The Fed, in its semiannual monetary policy report, forecast a gradual hike in interest rates and a winddown of the balance sheet as the economy continues its steady pace of expansion. Meanwhile, the Group of 20 meeting of world leaders made little impact on markets, as there was less discord than expected.
In economic data, an employment report showed the US added 222,000 jobs in June, representing the second-largest job haul of the year and underscoring that the labor market remains healthy. The Labor Department said unemployment ticked up to 4.4% from 4.3%.
Back home, telecom stocks were trading sharply higher. Bharti Airtel (up 2.42%), Idea Cellular (up 2.04%), MTNL (up 4.04%), Teleservices (Maharashtra) (up 2.34%), and Reliance Communications (up 5.71%) gained.
Shares of Bharti Infratel slipped 0.24%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.
Realty stocks gained. DLF (up 0.57%), Indiabulls Real Estate (up 1.71%), Housing Development and Infrastructure (up 1.11%), D B Realty (up 1.12%), Unitech (up 6.65%), Sobha (up 0.81%), Godrej Properties (up 0.48%), Prestige Estates Projects (up 0.27%), Oberoi Realty (up 1.16%) gained. Parsvnath Developers (down 0.67%) fell.
Shares of AU Small Finance Bank were trading at Rs 530.65, a 48.23% premium over its initial public offer price of Rs 358 on its debut today, 10 July 2017. The stock debuted at Rs 525, a premium of 46.65% over its issue price. The stock had hit a high of Rs 544 and a low of Rs 506.80 so far during the day. On the BSE, 2.42 crore shares were traded so far on the counter. The IPO had received strong response from investors and was subscribed 53.6 times.
KEC International rose 1.51% after the company said it has secured new orders worth Rs 1845 crore. KEC International said that of the total new orders of Rs 1845 crore, the company's transmission & distribution business secured order worth Rs 1684 crore in India and the Americas. The cables business received orders of Rs 161 crore. The announcement was made before market hours today, 10 July 2017.
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