Market gains in early trade

Key benchmark indices edged higher in early trade after posting over 1% drop in trade yesterday, 26 September 2016. At 9:30 IST, the barometer index, the S&P BSE Sensex was up 82.34 points or 0.29% at 28,376.62. The Nifty 50 index was currently up 33.95 points or 0.39% at 8,757. Metal and auto stocks led gains in early trade.

In overseas stock markets, Asian stocks were mixed amid the first US presidential debate between Democrat candidate Hillary Clinton and Republican candidate Donald Trump.

US stocks extended losses yesterday, 26 September 2016 as worries about Germany's Deutsche Bank weighed on the financial sector and as investors awaited the US presidential debate. US presidential elections will be held on 8 November this year.

Closer home, the market breadth indicating the overall health of the market was strong. On BSE, 1,038 shares rose and 287 shares fell. A total of 64 shares were unchanged. The BSE Mid-Cap index was currently up 0.61%. The BSE Small-Cap index was currently up 0.62%. Both these indices outperformed the Sensex.

Hero MotoCorp rose 0.83% after the company said that it has augmented premium portfolio with the next-gen 'Achiever - 150' aiming to expand its presence in the premium segment. The motorcycle is competitively priced at Rs 62,800 ex-showroom Delhi for the disc variant and Rs 61,800 for the drum variant. The company has launched limited edition Achiever 150 to commemorate the 7 crore milestone of cumulative production. The announcement was made after market hours yesterday, 26 September 2016.

Coal India (up 0.9%), TCS (up 0.93%) and Axis Bank (up 0.89%) were the major gainers from the Sensex pack.

Telecom stocks were mixed. Bharti Airtel (down 0.17%), MTNL (down 0.24%) and Idea Cellular (down 0.81%) declined. Tata Teleservices (Maharashtra) (up 0.52%) and Reliance Communications (RCom) (up 0.32%) gained.

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