Sensex crosses 37,000

Key benchmark indices extended gains and hit fresh intraday high in mid-morning trade. At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 314.52 points or 0.86% at 36,985.95. The Nifty 50 index was up 111.10 points or 1.01% at 11,146.50. The Sensex was currently trading below the psychological 37,000 mark after hitting intraday high above that level in mid-morning trade.

Trading for the week began on upbeat note on buying demand in index pivotals. The Sensex held firm in morning trade.

The S&P BSE Mid-Cap index was up 1.48%. The S&P BSE Small-Cap index was up 1.2%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1574 shares rose and 680 shares fell. A total of 136 shares were unchanged.

Coal India (up 3.94%), Bharti Airtel (up 3%), Vedanta (up 2.76%), NTPC (up 2.23%) and State Bank of India (up 2.08%) edged higher from the Sensex pack.

IndusInd Bank (down 0.62%), TCS (down 0.51%) and Infosys (down 0.15%) edged lower from the Sensex pack.

Meanwhile, Lok Sabha elections will be held in seven phases from April 11 to May 19 and counting will take place on May 23. However, elections for the Jammu and Kashmir Assembly, will not be held along with the Lok Sabha polls due to security reasons, the Election Commission said on Sunday.

Overseas, Asian stocks were trading lower. US stocks finished lower Friday for a fifth session in a row, after a disappointing jobs report added to concerns about slowing global growth.

Labor Department announced the U.S. economy added just 20,000 new jobs in February. The unemployment rate fell to 3.8% from 4%, while workers saw an 11 cent-an-hour increase in average hourly earnings, the largest gain since the end of the 2009 recession.

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