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Realty, pharma stocks advance

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The continued the lackluster session with the two key benchmark indices languishing just a tad above the neutral line in early afternoon trade. At 12:15 IST, the barometer index, the Sensex, was up 25.99 points or 0.08% at 34,459.06. The 50 advanced 3 points or 0.03% at 10,635.20.

The trading was lackluster so far with the movement for key indices confined to a narrow range around the flat line. Weak global cues also weighed on sentiment on the domestic bourses.

Among secondary indices, the Mid-Cap rose 0.51%. The Small-Cap advanced 0.86%. Both these indices outperformed the

Overseas, Asian stocks edged lower after Wall Street slipped overnight on bond report. US stocks fell yesterday, 10 January 2018 as investors fretted over the possibility of halting its Treasury bond purchases and the US pulling out of North American Agreement (NAFTA).

Back home, the breadth, indicating the overall health of the market, was strong. On the BSE, 1,680 shares rose and 999 shares declined. A total of 121 shares were unchanged.

Realty stocks advanced. (up 3.59%), (up 3.28%), Estate (up 1.78%), DLF (up 1.08%), HDIL (up 1%), Sobha (up 0.5%), (up 0.63%) and Unitech (up 0.2%) gained.

Pharma stocks gained. (up 1.26%), (up 1.2%), (up 0.9%), Lupin (up 0.6%) and (up 0.34%) edged higher. (down 2.5%) and (down 0.83%) edged lower.

On the macro front, according to the World Bank's Global Economic Prospects report released yesterday, 10 January 2018, is likely to reclaim its position from as the fastest growing major in 2018, with growth expected to accelerate to 7.3% in the year. The also revised India's growth estimate for 2017 to 6.7% from 7% projected in October, blaming short-term disruptions caused by the newly introduced goods and services tax (GST) and a softer-than-envisioned recovery in private investment. The report projected China's economic growth to slow to 6.4% in 2018 from 6.8% in 2017.

Meanwhile, the government is scheduled to announce industrial production data for November 2017 tomorrow, 12 January 2018. India's industrial production increased by 2.2% year-on-year in October, easing from an upwardly revised 4.1% gain in September.

The government will also announce tomorrow, 12 January 2018, inflation data based on consumer price index (CPI) for December 2017. Consumer prices increased 4.88% year-on-year in November, higher than 3.58% in October.

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

First Published: Thu, January 11 2018. 12:18 IST
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