Sensex, Nifty hit fresh intraday high

Key benchmark indices bounced back from the day's low and hit fresh intraday high in morning trade. At 10:35 IST, the barometer index, the S&P BSE Sensex, was up 295.52 points or 0.81% at 36,682.13. The Nifty 50 index was up 70.25 points or 0.64% at 10,977.20.

Among secondary barometers, the BSE Mid-Cap index was up 0.04%. The BSE Small-Cap index was down 0.04%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 909 shares rose and 1057 shares fell. A total of 108 shares were unchanged.

Metal shares were mixed. Jindal Steel & Power (up 1.85%), Tata Steel (up 1%), Hindustan Zinc (up 0.68%), JSW Steel (up 0.65%), Vedanta (up 0.56%) and Steel Authority of India (up 0.5%), edged higher. Hindalco Industries (down 0.02%), NMDC (down 0.22%), National Aluminium Company (down 0.32%) and Hindustan Copper (down 0.41%), edged lower.

Mosty FMCG shares rose. Dabur India (up 1.98%), Godrej Consumer Products (up 1.89%), Britannia Industries (up 0.66%), Colgate Palmolive (India) (up 0.59%), Procter & Gamble Hygiene & Health Care (up 0.51%), GlaxoSmithKline Consumer Healthcare (up 0.36%), Marico (up 0.36%), Hindustan Unilever (up 0.34%) and Nestle India (up 0.24%), edged higher. Jyothy Laboratories (down 0.15%), Tata Global Beverages (down 0.44%) and Bajaj Corp (down 2.56%), edged lower.

Overseas, Asian shares were trading higher. China on Monday announced that its official economic growth came in at 6.6% in 2018, the slowest pace since 1990. Fourth quarter GDP growth was 6.4%. That was a decline from the 6.5% year-over-year growth in the third quarter of 2018.

The US stock market closed higher Friday, extending its winning streak to a fourth session, on media reports that stoked hopes for progress in trade talks between the US and China. Optimism over a potential bilateral deal helped to offset worries about the prolonged partial government shutdown and mixed corporate results.

On the US data front, US industrial production rose 0.3% in December, the Federal Reserve reported Friday. The University of Michigan's consumer confidence index fell to a more than two-year low of 90.7 in January, down from 98.3 in December.

US markets will be closed Monday in honor of Martin Luther King Jr. Day.

In Europe, investors are waiting to hear British Prime Minister Theresa May's 'Plan B' for Brexit which is due to be presented to parliament later on Monday.

Powered by Capital Market - Live News