Sensex, Nifty end with small gains

Key benchmark indices ended with small gains after displaying volatility in intraday trade. The barometer index, the S&P BSE Sensex, rose 32.12 points or 0.10% to 33,250.93, as per the provisional closing data. The Nifty 50 index rose 21.50 points or 0.21% to 10,324.65, as per the provisional closing data.

Indices opened with modest gains, backed by positive global cues. After hitting day's high, key indices hovered in positive terrain in morning trade. Indices were unable to sustain at higher levels as a sudden reversal of trend in other Asian stocks triggered profit booking in Indian shares in mid-morning trade. Indices were trading in a narrow range near flat line in later part of the session.

The Sensex recovered after declining to its lowest level in almost two weeks. The Nifty recovered after declining to its lowest level in more than two weeks. The Sensex rose 244.99 points, or 0.74% at the day's high of 33,463.80 in early trade. The index fell 107.27 points, or 0.32% at the day's low of 33,111.54 in afternoon trade, its lowest level since 27 October 2017. The Nifty rose 65.30 points, or 0.63% at the day's high of 10,368.45 in early trade. The index fell 36.20 points, or 0.35% at the day's low of 10,266.95 in afternoon trade, its lowest level since 25 October 2017.

Among secondary barometers, the BSE Mid-Cap index provisionally rose 0.98%. The BSE Small-Cap index provisionally rose 0.76%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, turned positive from negative in late trade. On BSE, 1,490 shares rose and 1,215 shares fell. A total of 151 shares were unchanged.

The total turnover on BSE amounted to Rs 4504.23 crore, lower than turnover of Rs 17588.55 crore registered during the previous trading session.

Most power generation stocks rose. Reliance Infrastructure (up 3.35%), Jaiprakash Power Ventures (up 2.63%), CESC (up 2.30%), JSW Energy (up 2.03%), GMR Infrastructure (up 1.71%), Adani Power (up 1.33%), NTPC (up 1.05%), Tata Power (up 0.78%) and Reliance Power (up 0.26%), edged higher. NHPC (down 0.89%) and Torrent Power (down 1.74%), edged lower.

State-run Coal India was down 1.56%. State-run Power Grid Corporation of India was down 0.62%.

Most IT stocks rose. Hexaware Technologies (up 2.29%), Persistent Systems (up 1.53%), Wipro (up 0.60%), Oracle Financial Services Software (up 0.40%), Infosys (up 0.29%), MindTree (up 0.10%) and HCL Technologies (up 0.07%), edged higher. Tech Mahindra (down 0.06%) and MphasiS (down 1.84%), edged lower.

IT major TCS rose 0.34%. The company and Cisco have deployed the Cisco' Application Centric Infrastructure (Cisco ACITM) architecture for the TCS Enterprise Cloud Platform. The announcement was made before market hours today, 9 November 2017.

Auto major Tata Motors fell 0.49%, with the stock witnessing high intraday volatility after announcing Q2 September 2017 results during market hours today, 9 November 2017. Consolidated net profit jumped 195.04% to Rs 2502 crore on 10.34% growth in revenue (net of excise) to Rs 70156 crore in Q2 September 2017 over Q2 September 2016.

Guenter Butschek, MD & CEO, Tata Motors, said that after a challenging first quarter, Tata Motors has demonstrated impressive results with month-on-month growth in sales and market share, enabled by a slew of new product launches and customer centric initiatives. With the company's turnaround plan in full action, it is seeing encouraging results and it will continue to drive sustainable profitable growth to meet its future aspirations, Butschek said.

Overseas, European stocks were mixed as investors monitored a slew of corporate earnings.

Asian stocks were mixed after hovering in positive terrain earlier. China's consumer inflation accelerated in October, rising to a nine-month high, as smaller declines in food prices weighed less on overall inflation, official data showed Thursday. China's consumer price index increased 1.9% in October from a year earlier, compared with a 1.6% gain in September, the National Bureau of Statistics said.

US stocks ended higher on Wednesday as investors awaited updates on efforts to pass tax reform in Washington and as President Donald Trump toured Asia, highlighting lingering tensions with North Korea in a speech. The Dow Jones Industrial Average rose 0.03%, the S&P 500 index rose 0.14%, and the tech-oriented Nasdaq Composite Index advanced 0.32%.

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