Market drifts higher in early trade

Key benchmark indices were trading with small gains in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 32.50 points or 0.13% to 25,839.60. The Nifty 50 index was currently up 7.55 points or 0.1% at 7,915.80.

In side indices, the BSE Mid-Cap index was currently down 0.1%. The BSE Small-Cap index was currently up 0.01%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 736 shares rose and 589 shares fell. A total of 47 shares were unchanged.

Overseas, Asian stocks were trading on a mixed note, in thin trade and with little to guide them as most major markets were closed yesterday, 26 December 2016 for Christmas holidays. Markets in Australia, New Zealand and Hong Kong remain shut today, 27 December 2016 while those in the US and the UK will resume trading after the Christmas break.

Back home, Cipla (up 1.13%), Tata Motors (up 0.81%) and Infosys (up 0.71%) were the major gainers from the Sensex pack.

Bharti Airtel (down 1.42%), Hero MotoCorp (down 0.81%) and Coal India (down 0.51%) were the major losers from the Sensex pack.

Apollo Hospitals Enterprise rose 0.2% after the company announced that it has issued a letter of comfort for an aggregate sum of Rs 37.10 crore to ICICI Bank in connection with the sanction of credit facilities in favour of its step-down subsidiary, Alliance Dental Care, Chennai. The announcement was made after market hours yesterday, 26 December 2016.

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