Market edges higher in early trade

Key indices edged higher in early trade, with indices extending recent gains tracking firmness in Asian stocks. At 9:20 IST, the barometer index, the S&P BSE Sensex, advanced 100.76 points or 0.3% at 33,579.11. The Nifty 50 index rose 34.40 points or 0.33% at 10,361.30. Realty and auto stocks gained.

The S&P BSE Mid-Cap index rose 0.19%, underperforming the Sensex. The S&P BSE Small-Cap index advanced 0.47%, outperforming the Sensex.

The breadth, indicating the overall health of the market, was strong. On BSE, 962 shares rose and 323 shares declined. A total of 45 shares were unchanged.

Adani Ports & Special Economic Zone (up 1.2%), Bajaj Auto (up 0.91%), and Tata Motors (up 0.81%) gained.

Bank of Baroda rose 0.53% after the bank announced that the finance committee of the board approved the proposal of raising additional equity capital aggregating upto Rs 6000 crore by way of rights issue or qualified institutions placements (QIP), subject to applicable statutory/regulatory approvals. The announcement was made after market hours yesterday, 21 November 2017.

Overseas, Asian shares joined a global rally as strong world growth and rising corporate profits lured hordes of investors into equities. US stock-market indexes ended at records and near session highs yesterday, 21 November 2017, finding support on another round of strong earnings, with technology shares leading the way. The Chicago Fed national activity index rose to 0.65 in October from 0.36 in September. Sales of previously-owned homes jumped to a seasonally adjusted annual pace of 5.48 million in October.

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