Broad market depicts strength

Key indices held firm in the positive terrain in morning trade as firmness in Asian stocks boosted sentiment. At 10:20 IST, the barometer index, the S&P BSE Sensex advanced 123.06 points or 0.37% at 33,482.96. The Nifty 50 index rose 37.45 points or 0.36% at 10,336.20. Market had opened with modest gains.

The S&P BSE Mid-Cap index rose 0.39%. The S&P BSE Small-Cap index advanced 0.7%. Both these indices outperformed the Sensex.

The market breadth depicted strength. There were more than two gainers for every loser on BSE. 1,460 shares rose and 676 shares declined. A total of 106 shares were unchanged.

Telecom stocks were mixed. Reliance Communications (up 1.86%), Bharti Airtel (up 1.58%), and MTNL (up 0.23%) gained. Tata Teleservices (Maharashtra) (down 4.95%) and Idea Cellular (down 0.4%) declined.

Shares of Bharti Infratel fell 0.43%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

Most realty stocks rose for the fourth straight day. D B Realty (up 1.51%), Sobha (up 0.62%), Indiabulls Real Estate (up 1.18%), NBCC (up 3.15%), Godrej Properties (up 1.25%), Housing Development & Infrastructure (HDIL) (up 0.62%), and Oberoi Realty (up 2.85%) edged higher. DLF fell 0.83%. Unitech was flat.

Satin Creditcare Network gained 3.73% after the company said that National Housing Bank has granted certificate of registration to the company's wholly owned subsidiary Satin Housing Finance on 14 November 2017, to commence housing finance business. The announcement was made after market hours yesterday, 20 November 2017.

ARSS Infrastructure Projects jumped 11.58% after the company said that it has received a work order worth Rs 87.09 crore from Rail Vikas Nigam. The announcement was made after market hours yesterday, 20 November 2017.

ARSS Infrastructure Projects said the order is for execution of balance work of roadbed, major & minor bridges, track linking, S&T service buildings, other civil works and outdoor signaling in connection with doubling work between BLSN to RVH (In) section (excluding ANMD yard) and residential & other service buildings at MSMD & ANMD of Sambalpur division of East Coast Railway & Raipur division of SECR in Chhattisgarh, India a part of Raipur - Titlagarh doubling.

Overseas, Asian stocks gained as investors took heart from further evidence of strength in the global economy. US stock market closed higher yesterday, 20 November 2017, as investors continued to focus on corporate earnings and prospects for tax cuts. The leading economic index surged 1.2% in October and suggested no letup in a steadily growing US economy with the end of the year fast approaching.

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