Sensex, Nifty hit highest level in almost 9 weeks

A range bound movement was witnessed as key benchmark indices traded near their highest level in almost nine weeks. At 11:19 IST, the barometer index, the S&P BSE Sensex, was up 123.79 points or 0.45% at 27,430.62. The gains for the Sensex were higher in percentage terms than those for the the 50-unit CNX Nifty index. The Nifty was up currently up 29.70 points or 0.36% at 8,291.35. The Sensex hit its highest level in almost 9 weeks when it jumped 138.41 points or 0.5% at the day's high of 27,445.24 in morning trade. The Nifty also hit its highest level in almost 9 weeks when it rose 32.75 points or 0.39% at the day's high of 8,294.40 in morning trade.

The market breadth indicating the overall health of the market was strong. On BSE, 1,374 shares rose and 840 shares fell. A total of 121 shares were unchanged. The BSE Mid-Cap index was up 0.39%. The BSE Small-Cap index was up 0.34%. Both these indices underperformed the Sensex.

In overseas stock markets, Japanese stocks led gains in Asian equities as data showing lower-than-expected growth in Japan's merchandise exports in September 2015 added to expectations that the Japanese government will announce fiscal stimulus and the country's central bank will announce expansion of its bond-buying program. Weak Japanese data in recent months has fuelled expectations for additional fiscal and monetary stimulus. Recent data showed that Japanese industrial production fell for the second month in a row in August 2015. US stocks closed slightly lower yesterday, 20 October 2015, amid mixed corporate earnings reports.

Power generation stocks witnessed a mixed trend. Reliance Infrastructure (up 1.74%), GMR Infrastructure (up 1.29%), NHPC (up 1.11%), Reliance Power (up 0.88%), NTPC (up 0.55%), CESC (up 0.38%) and Torrent Power (up 0.16%), edged higher. JSW Energy (down 0.11%), Jaiprakash Power Ventures (down 0.27%), Adani Power (down 0.48%) and Tata Power (down 0.64%), edged lower.

Realty stocks also witnessed a mixed trend. Unitech (up 2.39%), Peninsula Land (up 2.08%), Sobha (up 1.57%), Phoenix Mills (up 1.17%), Housing Development and Infrastructure (HDIL) (up 0.72%), Sunteck Realty (up 0.64%), Parsvnath Developers (up 0.56%), D B Realty (up 0.37%) and Anant Raj (up 0.13%), edged higher. DLF (down 0.08%), Prestige Estates Projects (down 0.93%), Godrej Properties (down 1.3%), Indiabulls Real Estate (down 1.62%) and Oberoi Realty (down 1.76%), edged lower.

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