Key benchmark indices extended gains and hit fresh intraday high in morning trade. At 10:18 IST, the barometer index, the S&P BSE Sensex, was up 176.13 points or 0.67% at 26,526.30. The Nifty 50 index was currently up 51.80 points or 0.64% at 8,178.70. Gains were led by index heavyweights HDFC and Reliance Industries (RIL).
Overseas, most Asian stocks fell ahead of key global events set to take place this week, including a meeting tomorrow, 30 November 2016 between the world's largest oil producers and the release of the US nonfarm payroll report on Friday, 2 December 2016. US stocks declined yesterday, 28 November 2016 for their worst performance in nearly a month, weighed down by a pullback in the financial and consumer discretionary sectors as some investors booked profits on the heels of a record-setting week.
Closer home, the broad market depicted strength. There were more than three gainers against every loser on BSE. 1,475 shares rose and 418 shares declined. A total of 85 shares were unchanged. The BSE Mid-Cap index was currently up 0.89%.
Index heavyweight and housing finance major HDFC advanced 2.86% to Rs 1,282.95. The stock hit high of Rs 1,283 and low of Rs 1,244 so far during the day.
Index heavyweight Reliance Industries (RIL) rose 1.54% to Rs 1,001.65. The stock hit high of Rs 1,001.90 and low of Rs 987.10 so far during the day.
Auto stocks gained on renewed buying. Maruti Suzuki India (up 2.26%), Mahindra & Mahindra (M&M) (up 1.56%), Eicher Motors (up 3.39%), Ashok Leyland (up 2.79%), Bajaj Auto (up 0.4%), Hero MotoCorp (up 0.15%), Tata Motors (up 0.14%) and TVS Motor Company (up 0.92%) rose.
Realty stocks advanced. DLF (up 2.26%), Indiabulls Real Estate (up 1.31%), Housing Development and Infrastructure (up 3.22%), D B Realty (up 1.76%), Unitech (up 1.63%), Sobha (up 1.12%), Godrej Properties (up 0.44%), Oberoi Realty (up 1.3%) and Parsvnath Developers (up 0.56%) rose. Prestige Estates Projects shed 0.39%.
Timken India rose 3.98% after net profit rose 41.11% to Rs 29.86 crore on 7.27% rise in net total income from operations to Rs 296.75 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 28 November 2016.
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