Indices scale record high

Key indices were trading with small gains in early trade after swinging between gains and losses amid mixed Asian cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, gained 28.22 points or 0.09% at 33,864.96. The Nifty 50 index was almost unchanged at 10,463.40. The Sensex and Nifty, both, hit record high at the onset of the session.

The S&P BSE Mid-Cap index rose 0.27%. The S&P BSE Small-Cap index gained 0.51%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,059 shares rose and 440 shares fell. A total of 49 shares were unchanged.

Tata Steel (down 0.78%), Dr Reddy's Laboratories (down 0.84%), Adani Ports & Special Economic Zone (down 0.96%) dropped.

HDFC rose 0.19% after the board of directors of the company approved raising funds by issuing equity shares and/or other permissible securities up to an aggregate amount not exceeding Rs 13000 crore. HDFC will consider raising funds by issue of equity shares or compulsorily convertible debentures or warrants or a combination thereof. The issue will be through a preferential issue or qualified institutions placement basis or through any other permissible mode or combination thereof, subject to necessary shareholder and regulatory approvals. The announcement was made after market hours yesterday, 19 December 2017.

IndusInd Bank gained 0.01% after the bank announced approval of the Competition Commission of India to the proposed amalgamation of Bharat Financial Inclusion (formerly known as 'SKS Microfinance) with IndusInd Bank. The announcement was made after market hours yesterday, 19 December 2017.

Overseas, Asian stocks were mixed with investors awaiting the final votes on US tax-cut legislation. US stocks ended with modest losses yesterday, 19 December 2017, pulling back from all-time highs. Stocks remained lower as the House of Representatives, as expected, passed tax legislation that would slash corporate rates but will have to vote again today because the current draft doesn't comply with Senate rules.

Powered by Capital Market - Live News