Key benchmark indices scored small gains in volatile trade amid divergent trend in index pivotals. The barometer index, the S&P BSE Sensex, rose 31.45 points or 0.1% to 31,747.09, as per the provisional closing data. The Nifty 50 index rose 15 points or 0.15% at 9,786.05, as per the provisional closing data. Both the Sensex and the Nifty fresh trimmed gains in late trade after hitting record high in afternoon trade. Global cues were positive.
The Sensex gained 169.47 points or 0.53% at the day's high of 31,885.11 in afternoon trade, a record high for the barometer index. The index rose 2.84 points or 0.01% at the day's low of 31,718.48 in late trade. The Nifty gained 59 points or 0.6% at the day's high of 9,830.05 in afternoon trade, a record high for the index. The index rose 7.80 points or 0.08% at the day's low of 9,778.85 in late trade.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,567 shares declined and 1,160 shares rose. A total of 151 shares were unchanged.
The total turnover on BSE amounted to Rs 4476.09 crore, lower than the turnover of Rs 9919.38 crore registered during the previous trading session.
Most IT stocks gained. TCS (up 1.62%), HCL Technologies (up 0.03%), Oracle Financial Services Software (up 0.46%), Tech Mahindra (up 0.1%), Hexaware Technologies (up 3.12%) rose. Wipro (down 1.58%), MphasiS (down 1.97%) and MindTree (down 1.12%) fell.
Index heavyweight and software major Infosys advanced 1.87% to Rs 977. The stock hit high of Rs 988.90 and low of Rs 955 in intraday trade.
IndusInd Bank rose 0.08% to Rs 1,561.10 after net profit rose 26.48% to Rs 836.55 crore on 21.52% growth in total income to Rs 5302.77 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 11 July 2017.
The bank's gross non-performing assets (NPAs) stood at Rs 1271.68 crore as on 30 June 2017 as against Rs 1054.87 crore as on 31 March 2017 and Rs 860.64 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 1.09% as on 30 June 2017 as against 0.93% as on 31 March 2017 and 0.91% as on 30 June 2016.
The ratio of net NPAs to net advances stood at 0.44% as on 30 June 2017 as against 0.39% as on 31 March 2017 and 0.38% as on 30 June 2016. The bank's provisions and contingencies rose 34.49% to Rs 309.97 crore in Q1 June 2017 over Q1 June 2016.
Overseas, most European stocks edged lower as investors took a cautious approach ahead of US Federal Reserve Chairwoman Janet Yellen's testimony to Congress. Most Asian stocks were trading higher as investors hold on to their big bets ahead of the earnings season in the US.
Investors are watching for more cues from the Fed on the pace of interest-rate increases. Fed Gov. Lael Brainard was due to speak in New York on Tuesday, ahead of Chairwoman Janet Yellen's testimony to congressional committees on Wednesday and Thursday.
In US stocks, the Nasdaq and the S&P 500 finished higher yesterday, 10 July 2017 as a pair embattled sectors, technology and energy, drew bidders, while the Dow industrials closed fractionally lower.
US President Donald Trump's effort to roll back Obamacare faced growing obstacles on Monday as Republicans remained divided over how to curb the costs of their proposed healthcare bill and prevent millions from losing coverage.
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