Banking and telecom sector stocks along with index heavyweight Reliance Industries (RIL) led the upmove for key benchmark indices. At 12:15 IST, the barometer index, the S&P BSE Sensex, was up 220.78 points or 0.91% at 24,409.15. The 50-unit Nifty 50 index was currently up 68.75 points or 0.94% at 7,419.75. Gains in Asian stocks underpinned sentiment on the domestic bourses. The Sensex rose 252.52 points or 1.04% at the day's high of 24,440.89 in early afternoon trade. The barometer index rose 58.86 points or 0.24% at the day's low of 24,247.23 in early trade. The Nifty rose 73.40 points or 0.99% at the day's high of 7,424.40 in early afternoon trade. The index rose 13.15 points or 0.17% at the day's low of 7,364.15 in early trade.
The market breadth indicating the overall health of the market was strong. On BSE, 1,416 shares gained and 896 shares fell. A total of 136 shares were unchanged. The BSE Mid-Cap index was currently up 0.89%, underperforming the Sensex. The BSE Small-Cap index was currently up 1.19%, outperforming the Sensex.
In overseas stock markets, Chinese stocks led gains in Asian stocks after latest data pointing to slower Chinese economic growth fanned stimulus hopes. In mainland China, the Shanghai Composite index was currently up 2.89%. In Hong Kong, the Hang Seng index was currently up 1.42%. China's economy grew 6.8% in the fourth quarter from a year earlier, easing from 6.9% in the third quarter. It was the weakest pace of expansion since the first quarter of 2009, when growth tumbled to 6.2%. China's economic growth rate slowed to a 25-year low of 6.9% in 2015 and easing from 7.3% expansion registered in 2014.
US stock index futures pointed at gains for US stocks later in the global day. Trading in US index futures indicated that the Dow Jones Industrial Average could gain 167 points at the opening bell today, 19 January 2016.
Index heavyweight Reliance Industries advanced 2.28% to Rs 1,041.25 ahead of its Q3 December 2015 results today, 19 January 2016. The stock hit a high of Rs 1,041.95 and a low of Rs 1,015.20 so far during the day.
Capital goods stocks edged higher. L&T (up 2.27%), ABB India (up 1.71%), BEML (up 1.2%), Bharat Electronics (up 1.08%), Punj Lloyd (up 3.67%), Crompton Greaves (up 0.52%), Siemens (up 0.71%) and Thermax (up 0.2%) rose. Bharat Heavy Electricals (Bhel) slipped 0.25%.
Realty stocks rose on renewed buying. Indiabulls Real Estate (up 2.85%), Housing Development and Infrastructure (up 2.65%), D B Realty (up 1.18%), Unitech (up 2.55%), Sobha (up 0.82%), DLF (up 0.09%), Godrej Properties (up 2.23%), Oberoi Realty (up 1%) and Parsvnath Developers (up 0.77%) gained.
Rallis India slumped 5.89% after consolidated net profit fell 19.92% to Rs 20.41 crore on 19.85% decline in total income to Rs 311.11 crore in Q3 December 2015 over Q3 December 2014. Rallis India's EBITDA (earnings before interest, taxes, depreciation and amortization) margin dropped to 11.5% in Q3 December 2015 from 13.1% in Q3 December 2014. The result was announced by the company after market hours yesterday, 18 January 2016.
Delta Corp rose 4.59% after the company reported consolidated net profit of Rs 7.70 crore in Q3 December 2015 compared with net loss of Rs 0.43 crore in Q3 December 2014. Delta Corp's net sales rose 23.7% to Rs 100.14 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 18 January 2016.
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