Market pares gains

Key benchmark indices trimmed gains after hitting fresh intraday high in morning trade. At 10:16 IST, the barometer index, the S&P BSE Sensex, was up 48.91 points or 0.19% at 25,809.01. The Nifty 50 index was up 15.90 points or 0.20% at 7,822.50.

The BSE Sensex rose 156.91 points, or 0.61% at the day's high of 25,917.01 in the morning trade, its highest level since 11 November 2015. The Nifty 50 index rose 43.55 points, or 0.56% at the day's high of 7,850.15 in the morning trade, its highest level since 10 November 2015.

The market breadth indicating the overall health of the market was strong. On BSE, 1,224 shares rose and 686 shares fell. A total of 136 shares were unchanged. The BSE Mid-Cap index was up 0.32%. The BSE Small-Cap index was up 0.54%. Both these indices outperformed the Sensex.

Metal shares edged higher. Vedanta (up 3.18%), Hindalco Industries (up 2.28%), NMDC (up 1.92%), Tata Steel (up 1.63%), Hindustan Zinc (up 1.56%), Steel Authority of India (up 1.55%), National Aluminium Company (up 1.22%), Bhushan Steel (up 1.07%), JSW Steel (up 0.61%), Jindal Steel & Power (up 0.49%) and Hindustan Copper (up 0.09%), edged higher.

Sugar shares were in demand. Shree Renuka Sugar (up 9.21%), Simbhaoli Sugars (up 8.17%), Empee Sugars and Chemicals (up 7.72%), Sakthi Sugars (up 5.57%), Dwarikesh Sugar Industries (up 4.96%), EID Parry (India) (up 4.86%), DCM Shriram Industries (up 3.91%), Balrampur Chini Mills (up 3.15%), Rana Sugars (up 2.54%), Bajaj Hindusthan (up 2.30%), Triveni Engineering & Industries (up 1.95%), KCP Sugar & Industries Corporation (up 1.34%) and Dhampur Sugar Mills (up 0.28%), edged higher.

In overseas markets, Asian markets rose today, 17 November 2015, as a weakening yen lifted Japanese shares and higher oil prices boosted the energy sector. US stocks rose overnight, shrugging off concerns the market would be affected by the weekend terrorist attacks in Paris.

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