The two key benchmark indices extended intraday gains in mid-afternoon trade. At 14:15 IST, the barometer index, the S&P BSE Sensex, was up 238.69 points or 0.89% at 27,138.25. The Nifty 50 index was up 88.70 points or 1.07% at 8,377.30. The Sensex was currently hovering above the psychological 27,000 level after crossing that level in early trade. Market sentiment was boosted by positive global cues as markets are hoping for some concrete views from the first address of US President-elect Donald Trump on policy and a checklist of his priorities as he meets the press today, 11 January 2017. The Sensex rose 253.35 points or 0.94% at the day's high of 27,152.91 in mid-afternoon trade, its highest level since 11 November 2016. It rose 78.88 points or 0.29% at the day's low of 26,978.44 in early trade. The Nifty rose 90.45 points or 1.09% at the day's high of 8,379 in mid-afternoon trade, its highest level since 11 November 2016. It rose 33.65 points or 0.4% at the day's low of 8,322.25 in early trade. The BSE Mid-Cap index was up 1.08%. The BSE Small-Cap index was up 1%. Both these indices outperformed the Sensex. Overseas, European and Asian stocks edged higher amid the first address of US President-elect Donald Trump. Markets are hoping for some concrete views from Trump on policy and a checklist of his priorities as he meets the press today, 11 January 2017. Japan's Nikkei 225 Average settled 0.33% higher. Japan's leading index strengthened to the highest level in 15 months in November, survey data from the Cabinet Office showed today, 11 January 2017. The leading index, which measures the future economic activity, rose to 102.7 in November from 100.8 in October. The coincident index improved to 115.1, from 113.5 in October. The coincident indicator reflects the current economic activity. US equities closed higher yesterday, 10 January 2017, as the Nasdaq composite notched a fresh record high. Back home, the market breadth, indicating the overall health of the market, was strong. On the BSE, 1,698 shares rose and 969 shares declined. A total of 149 shares were unchanged. Bank stocks surged. Among public sector banks, Indian Bank (up 5.74%), Bank of Baroda (up 3.93%), Punjab National Bank (up 3.56%), Bank of India (up 2.47%), State Bank of India (up 1.84%) and IDBI Bank (up 1.5%) edged higher. Among private sector banks, Yes Bank (up 4.03%), Kotak Mahindra Bank (up 2.81%), RBL Bank (up 2.32%), ICICI Bank (up 2.17%), Axis Bank (up 1.84%) and HDFC Bank (up 1.87%) advanced. IndusInd Bank rose 5.56% at Rs 1,226.40, with the stock extending previous trading session's gains triggered by the bank reporting strong Q3 results. Net profit rose 29.19% to Rs 750.64 crore on 22.86% growth in total income to Rs 4716.13 crore in Q3 December 2016 over Q3 December 2015. The result was announced at the fag end of market hours yesterday, 10 January 2017. The stock had risen 0.19% to settle at Rs 1,161.85 yesterday, 10 January 2017. Capital goods stocks were mostly higher. BEML (up 4.66%), GE T&D India (up 3.35%), Thermax (up 2.12%), L&T (up 1.27%), Bharat Heavy Electricals (up 1.01%) and Crompton Greaves (up 0.48%) edged higher. ABB India (down 3.63%), Havells India (down 0.58%) and Siemens (down 0.08%) edged lower. Bharat Electronics gained 1.08% after the company scheduled a board meeting on 27 January 2017 to consider stock-split proposal. Royal Orchid Hotels surged 8.95% after the company said that it acquired the remaining 24.9% shares in its subsidiary, Amartara Hospitality. The announcement was made during market hours today, 11 January 2017. Upon acquisition of shares from the joint venture partner, Amartara Hospitality has become wholly owned subsidiary of Royal Orchid Hotels. The cost of acquisition is Rs 2.5 crore. Earlier, Royal Orchid held 75.1% stake in Amartara Hospitality. The acquisition is a part of settlement agreement between the joint venture partners. Powered by Capital Market - Live News |