Market holds firm

Key benchmark indices held firm on steady buying demand for index stocks. At 18:26 IST, the barometer index, the S&P BSE Sensex was up 136.67 points or 0.53% at 25,879.93. The 50-unit Nifty 50 index was up 43.60 points or 0.56% at 7,826.95. 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 market breadth indicating the overall health of the market was strong. On BSE, 1,841 shares rose and 355 shares declined. A total of 80 shares were unchanged. The BSE Mid-Cap index was currently up 1.06%. The BSE Small-Cap index was currently up 1.52%. Both these indices outperformed the Sensex.

Axis Bank (up 2.45%), Sun Pharmaceutical Industries (up 2.1%), Tata Steel (up 1.19%), Hindalco Industries (up 0.94%) and Tata Motors (up 0.86%) were the top gainers from the 30-share Sensex pack.

Capital goods pivotals were in demand. L&T (up 1.37%) and Bhel (up 1.29%) rose.

KEC International rose 1.36% 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 are conducting 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 ends 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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