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Market clocks small gains in volatile trade

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Key benchmark indices registered small gains in a volatile session of trade. The barometer index, the S&P Sensex, rose 43.84 points or 0.17% at 26,394.01, as per the provisional closing data. The 50 index rose 15.25 points or 0.19% at 8,142.15, as per the provisional closing data. After trading firm, the key equity benchmarks trimmed gains in later part of the day's trading session.

Earlier, after opening higher, key indices extended gains and hit their highest levels in almost two weeks. The rose 236.90 points, or 0.89% at the day's high of 26,587.07 in afternoon trade, its highest level since 16 November 2016. The index rose 4.49 points, or 0.02% at the day's low of 26,354.66 in late trade. The rose 70.45 points, or 0.86% at the day's high of 8,197.35 in afternoon trade, its highest level since 16 November 2016. The index rose 1.80 points, or 0.02% at the day's low of 8,128.70 at onset of day's trading session.

The breadth indicating the overall health of the market was positive. On BSE, 1,581 shares rose and 1,018 shares declined. A total of 198 shares were unchanged. The Mid-Cap index was currently up 0.53%. The Small-Cap index was currently up 0.55%. Both these indices outperformed the

Auto stocks gained on renewed buying. Maruti Suzuki India (up 4.25%), Mahindra & Mahindra (M&M) (up 1.88%), Eicher Motors (up 5.36%), Ashok Leyland (up 2.56%), Bajaj Auto (up 1.61%), Hero MotoCorp (up 2.05%), Tata Motors (up 0.85%) and TVS Motor Company (up 2.02%) rose.

Index heavyweight and cigarette major ITC fell 0.75% to Rs 231.75. The stock hit a high of Rs 235.60 and low of Rs 230.25 in intraday trade.

Overseas, European shares were trading lower with commodities-related stocks coming under renewed selling pressure after a sharp decline in metals and oil prices. Asian stocks closed on a mixed note 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.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 15:33 IST
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