Market advances on first day of Samvat 2072

Trading for the Samvat 2072 ended on positive note. The barometer index, the S&P BSE Sensex rose 123.69 points or 0.48% to settle at 25,866.95. The 50-unit Nifty 50 index rose 41.65 points or 0.54% to settle at 7,825. Sentiment was boosted after the National Democratic Alliance (NDA) government after market hours yesterday, 10 November 2015 announced easing of foreign direct investment (FDI) norms across 15 sectors to attract overseas funds and boost economic growth.

The barometer index, the S&P BSE Sensex rose 123.69 points or 0.48% to settle at 25,866.95. The index hit high of 25,944.93 and low of 25,853.42 during the day.

The 50-unit Nifty 50 index rose 41.65 points or 0.54% at 7,825. The index hit high of 7,847.95 and low of 7,819.10 during the day.

The market breadth indicating the overall health of the market was strong. On BSE, 1,967 shares rose and 413 shares declined. A total of 89 shares were unchanged. The BSE Mid-Cap index rose 1.05%. The BSE Small-Cap index rose 1.48%. Both these indices outperformed the Sensex.

Axis Bank (up 2.5%), Sun Pharmaceutical Industries (up 1.93%), Tata Steel (up 1.33%), Coal India (up 1.1%) and Hindalco Industries (up 1.01%) were the top gainers from the 30-share Sensex pack.

Capital goods pivotals were in demand. L&T (up 1.41%) and Bhel (up 1.23%) rose.

Hero MotoCorp (down 0.49%), ITC (down 0.46%) and Bharti Airtel (down 0.27%) edged lower from the 30-share Sensex pack.

NMDC rose 1.59%. The company's net profit fell 48.28% to Rs 810.24 crore on 44.14% decline in total income to Rs 2028.66 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 10 November 2015.

KEC International rose 1.46% after the company said its board approved raising funds for refinancing of debt, long term working capital requirements, capex and other corporate purposes. The announcement was made after market hours yesterday, 10 November 2015.

The stock exchanges conducted a one hour special muhurat trading session today, 11 November 2015, to mark the start of Samvat 2072, the new-year for the trading community. Trading began at 17:45 IST and ended at 18:45 IST. Traders and investors traditionally make token purchases of stocks during the so-called muhurat trading session. There was no regular trading today, 11 November 2015 due to a holiday on account of Diwali. The stock market also remains closed tomorrow, 12 November 2015, for Diwali Balipratipada holiday.

In overseas stock markets, European stock indices gained a fillip from corporate news on Wednesday after Asian markets took a mixed set of Chinese data in stride. Amid a slew of Chinese data, year-on-year growth in October retail sales came in at 11%, up from 10.9% in September, while October industrial output growth slipped to 5.6% from 5.7% in September.

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