Strong market breadth

A range bound movement was witnessed as key benchmark indices retained positive zone in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 104.26 points or 0.42% at 25,140.31. The 50-unit Nifty 50 index was currently up 29.90 points or 0.39% at 7,642.40. The market breadth indicating the overall health of the market was strong. On BSE, 1,500 shares rose and 910 shares declined. A total of 175 shares were unchanged. The BSE Mid-Cap index was currently up 0.24%, underperforming the Sensex. The BSE Small-Cap index was currently up 0.53%, outperforming the Sensex.

Auto stocks were mixed. TVS Motor Company (up 0.78%), Eicher Motors (up 1.85%), Ashok Leyland (up 1.1%), Hero MotoCorp (up 0.77%), and Bajaj Auto (up 1.13%) gained. Mahindra & Mahindra (M&M) (down 1.4%) and Maruti Suzuki India (down 0.95%) declined.

Tata Motors declined 1.61% to Rs 387.60. The stock was volatile. The stock hit high of Rs 401 and low of Rs 385.60 so far during the day. The company reported 8% increase in global wholesales to 90,695 units in November 2015 over November 2014. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in fell 4% to 29,066 units in November 2015 over November 2014. Global wholesales of all passenger vehicles in rose 15% at 61,629 units in November 2015 over November 2014. The announcement was made after market hours yesterday, 9 December 2015.

Shares of power generation and power distribution companies also witnessed a mixed trend. NHPC (up 2.41%), Tata Power Company (up 0.97%), NTPC (up 1.57%), Reliance Infrastructure (up 0.76%) and Reliance Power (up 0.93%) gained. Torrent Power (down 0.96%), Adani Power (down 0.62%), and Power Grid Corporation of India (down 0.31%) declined.

Ipca Laboratories fell 2.4% to Rs 740.95, after a bulk deal of 6.34 lakh shares was executed on the scrip at Rs 748.95 per share at 11:09 IST on BSE.

Bharat Forge rose 1.35% after the company said it has formalised an agreement for long term supply of aero engine components to Rolls-Royce. The agreement envisages supply of critical and high integrity forged and machined components for a range of aero engines including the flagship Trent engine. Bharat Forge Chairman and Managing Director B.N. Kalyani said that it is the company's strategic intent to play a significant role in global aerospace supply chain with forged and machined products and assemblies. This supply-chain partnership with Rolls-Royce is a momentous step towards achieving the company's stated goal of $100 million in revenue from the aerospace sector, he said.

In overseas stock markets, Asian stocks edged lower after a decline in US stocks overnight. US stocks edged lower in a choppy trading session yesterday, 9 December 2015, as weak oil prices continued to feed global growth worries.

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