Strong market breadth

Key benchmark indices hovered in a narrow range in positive terrain after opening higher in early trade. At 10:17 IST, the barometer index, the S&P BSE Sensex was currently up 167.81 points or 0.65% at 25,789.98. The 50-unit CNX Nifty was currently up 54.80 points or 0.7% at 7,842.90. All the twelve sectoral indices on BSE were in the green.

The broad market depicted strength. The market breadth indicating the overall health of the market was strong with more than three gainers for every loser on BSE. The 1,413 shares rose and 428 shares fell. A total of 66 shares were unchanged. The BSE Mid-Cap index was up 1.23%. The BSE Small-Cap index was up 1.3%. Both these indices outperformed the Sensex.

In overseas markets, most Asian stocks rose today, 11 September 2015 after overnight modest gains in US stocks after US data offered no clarity on whether the Federal Reserve might raise interest rates next week.

In sector trends, realty stocks rose. Sobha (up 2.47%), Indiabulls Real Estate (up 0.31%), Unitech (up 2.02%), Housing Development & Infrastructure (HDIL) (up 2.26%), DLF (up 0.97%), and Oberoi Realty (up 0.6%) edged higher.

Auto stocks gained. Mahindra & Mahindra (M&M) (up 1.04%), Ashok Leyland (up 3.61%), Maruti Suzuki India (up 0.75%), Eicher Motors (up 1.39%), and Bajaj Auto (up 0.13%) gained.

TVS Motor Company rose 0.88% after the company said it signed a memorandum of understanding (MoU) with the Government of Tamil Nadu. The announcement was made after trading hours yesterday, 10 September 2015. Under the MoU, TVS Motor Company will invest Rs 350 crore in its existing two-wheeler and three-wheeler plants in Hosur during the next three years. The investment will be mainly for development of new products and for capacity expansion. This investment reflects the company's continued commitment towards the overall economic development of the State as a responsible corporate citizen. The signing of this MoU is in line with TVS Motor Company's firm belief in the potential of the State in terms of human resources, infrastructure and overall business environment. It will also have a significant beneficial effect on small and medium industries which are directly or indirectly associated with TVS Motor Company in Tamilnadu, the company said in a statement.

Raymond rose 0.1%. The company said that its unlisted wholly-owned subsidiary Silver Spark Apparel completed the acquisition of Robot Systems from Gokaldas Exports for Rs 28 crore. The company made the announcement after market hours yesterday, 10 September 2015.

Godrej Consumer Products rose 2.21%. The company said before market hours today, 11 September 2015, that it has completed the acquisition of balance 40% stake in Cosmetica Nacional, a market leading Hair Colorant and Cosmetics Company in Chile.

Amtek Auto (up 8.55%), Jet Airways (India) (up 7.21%), Sobha (up 6.35%), SRF (up 5.88%) and Gati (up 5.02%) were major gainers from the BSE A group of shares.

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