Key benchmark indices hit fresh intraday high in mid-afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 254.67 points or 0.82% at 31,311.07. The Nifty 50 index was up 63.70 points or 0.66% at 9,651.75. Positive global cues boosted sentiment on the domestic bourses.
The Sensex and the Nifty, both, hit their highest intraday levels in more than one week. The Sensex rose 251.66 points, or 0.81% at the day's high of 31,308.06 in mid-afternoon trade, its highest level since 8 June 2017. The index rose 106.95 points, or 0.34% at the day's low of 31,163.35 in early trade. The Nifty rose 69.45 points, or 0.72% at the day's high of 9,657.50 in mid-afternoon trade, its highest level since 9 June 2017. The index rose 26.85 points, or 0.28% at the day's low of 9,614.90 in morning trade.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,326 shares fell and 1,242 shares rose. A total of 150 shares were unchanged.
Adani Ports and Special Economic Zone (APSEZ) rose 3.24% to Rs 374.40 after the company said Moody's has changed its outlook on the company to stable from negative. Moody's has re-affirmed its investment grade rating at Baa3 on APSEZ.
The announcement was made during market hours today, 19 June 2017.
Most auto stocks rose. Bajaj Auto (up 1.46%), Hero MotoCorp (up 1.23%), TVS Motor Company (up 0.59%), Mahindra & Mahindra (up 0.29%), Escorts (up 0.20%) and Maruti Suzuki India (up 0.04%), edged higher. Eicher Motors (down 0.26%), Tata Motors (down 0.53%) and Ashok Leyland (down 0.05%), edged lower.
Power generation stocks were mixed. Torrent Power (down 2.04%), Adani Power (down 1.09%), GMR Infrastructure (down 0.51%), Jaiprakash Power Ventures (down 0.48%), JSW Energy (down 0.4%), NTPC (down 0.28%) and NHPC (down 0.15%), edged lower. Tata Power (up 0.19%), Reliance Infrastructure (up 0.99%) and CESC (up 1.53%), edged higher.
State-run Power Grid Corporation of India was up 0.95%. State-run Coal India was down 0.76%.
On the domestic economic front, the GST Council on Sunday, 18 June 2017, reportedly put a fix to nagging issues and the government put at rest speculation about a possible delay in GST rollout, paving the way for the landmark tax reforms to kick in from 1 July 2017. The government will reportedly let companies to file late returns for the first two months to let them adapt to a new system.
Overseas, European stocks were trading higher on broad-based gains led by commodity shares and retailers. Asian stocks were trading higher as markets geared up ahead of Brexit negotiations between the UK and the European Union, and as French President Emmanuel Macron's party won a parliamentary majority at the weekend.
Britain and the rest of the European Union (EU) go into the negotiations in Brussels later today, 19 June 2017, to decide the status of expats, the UK's 'divorce bill' and the Northern Ireland border, besides other compensatory issues. The UK is set to leave the EU by the end of March 2019.
In US, the Dow Jones Industrial Average on Friday, 16 June 2017, notched its 21st record of 2017 led by a late-stage rise in energy shares, as Amazon announced plans to buy Whole Foods. However, the tech-heavy Nasdaq Composite ended lower and booked a second-straight weekly loss. The Dow Jones Industrial Average gained 24.38 points, or 0.11%, to 21,384.28a new all-time high. The S&P 500 ended less than a point higher at 2,433.14. The Nasdaq Composite Index fell 13.74 points, or 0.2%, to 6,151.76.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)