After hitting fresh record highs in mid-morning trade, key benchmark indices traded with modest gains in early afternoon trade on positive global cues. At 12:19 IST, the barometer index, the S&P BSE Sensex, advanced 192.33 points or 0.56% at 34,346.08. The Nifty 50 index rose 53.20 points or 0.5% at 10,612.05.
Key benchmark indices had opened the session on a strong note with the Sensex and the Nifty hitting record highs in early trade, tracking firmness in Asian markets and strong finish on Wall Street overnight. Indices hit fresh record highs in mid-morning trade and later hovered with modest gains so far.
The broad market depicted strength, with nearly two gainers against every loser on the BSE. 1,819 shares advanced and 951 shares declined.
A total of 116 shares were unchanged.
Realty stocks surged. D B Realty (up 4.96%), Oberoi Realty (up 2.54%), Godrej Properties (up 2.1%), HDIL (up 1.8%), Unitech (up 1.6%), Indiabulls Real Estate (up 1.53%), Prestige Estates Projects (up 1.44%) and DLF (up 0.06%) gained.
Sobha advanced 5.74% at Rs 639.65 after the company said that its total sales value increased by 92% to Rs 750.90 crore in Q3 December 2017 over Q3 December 2016. The announcement was made after market hours on Friday, 5 January 2018.
Metal and mining stocks were mixed. Hindustan Copper (down 1.36%), Hindalco Industries (down 0.58%), Vedanta (down 0.5%), Nalco (down 0.29%), Tata Steel (down 0.01%) and JSW Steel (down 0.12%) declined. Jindal Steel & Power (up 7.12%), Sail (up 1.69%), Hindustan Zinc (up 0.57%) and NMDC (up 0.73%) gained.
State Bank of India (SBI) was up 0.44% at Rs 307.55 after the bank's executive committee of the central board in its meeting held today, 8 January 2018, approved long term fund raising in single/multiple tranches up to $2 billion through a public offer/private placement of senior unsecured notes in US dollar or any other convertible currency during FY 2018 and FY 2019. The announcement was made during market hours today, 8 January 2018.
The 14-day long winter session of the Parliament concluded on Friday, 5 January 2018. The Speaker said that 16 bills were introduced in the Lok Sabha by the government in the session, of which 12 bills including the triple talaq bill was passed. Important bills passed during the session also included the Requisitioning and Acquisition of Immovable Property Bill and the Goods and Services Tax (Compensation to States) Amendment Bill.
Overseas, Asian stocks edged higher following firm US lead as investors awaited upcoming earnings releases. US stocks rose to record levels on Friday, 5 January 2018 even as Wall Street shook off jobs data that missed expectations. The US economy added 148,000 jobs in December, according to the Labor Department, as against expectations of 190,000 jobs.
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