Sensex scales record high

Stocks drifted higher in early trade, with the Sensex scaling record high. At 9:30 IST, the barometer index, the S&P BSE Sensex, was up 127.59 points or 0.35% at 36,846.19. The Nifty 50 index was up 40.10 points or 0.36% at 11,124.85.

The S&P BSE Mid-Cap index was up 0.62%. The S&P BSE Small-Cap index was up 0.82%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1046 shares rose and 414 shares fell. A total of 65 shares were unchanged.

Overseas, Asian stocks rose after their US counterparts closed higher and as rising yields boosted financials. US stock indices got a boost from bank shares in an otherwise lackluster session Monday as investors digested warnings from the world's financial leaders about the impact of protectionism on growth.

Back home, Maruti Suzuki India (up 1.66%), Tata Motors (up 1.39%), Tata Steel (up 1.15%), M&M (up 0.99%) and L&T (up 0.8%) edged higher from the Sensex pack.

ACC surged 12.07%. The company's consolidated net profit rose 0.77% to Rs 328.74 crore on 13.75% rise in net sales to Rs 3767.90 crore in Q2 June 2018 over Q2 June 2017. The result was announced after market hours yesterday, 23 July 2018.

Essel Propack gained 4.73% after the company announced that the first phase of production of laminated tubes has successfully commenced from 23 July 2018 at the company's newly set-up unit in district Kamrup, Assam. The size of investment in phase-I is over Rs 60 crore. The announcement was made after market hours yesterday, 23 July 2018.

Indian Energy Exchange rose 0.82% after the company said that its board will meet on 9 August 2018, to consider sub division of face value of equity shares of the company. The announcement was made after market hours yesterday, 23 July 2018.

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