Strong market breadth

Key indices were trading with small gains in morning trade after opening higher and hitting fresh record in early trade tracking firmness in Asian stocks. At 10:25 IST, the barometer index, the S&P BSE Sensex was up 76.57 points or 0.25% at 30,324.74. The Nifty 50 index rose 34.50 points or 0.37% at 9,441.80. Realty stocks also extended recent rally. Metal stocks also gained.

The BSE Mid-Cap index rose 0.63%. The BSE Small-Cap index gained 0.47%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,302 shares rose and 883 shares fell. A total of 100 shares were unchanged.

Metal & mining stocks gained in a firm market. JSW Steel (up 0.56%), Hindustan Copper (up 0.7%), Vedanta (up 1.64%), Hindalco Industries (up 4.09%), Hindustan Zinc (up 1.59%), Jindal Steel & Power (up 1.44%), Tata Steel (up 1.42%), Steel Authority of India (Sail) (up 0.98%), National Aluminum Company (up 0.67%) and NMDC (up 0.67%) gained. Bhushan Steel declined 1.2%.

Realty stocks also extended recent rally. DLF (up 3.13%), D B Realty (up 1.73%), Anant Raj (up 0.81%), Indiabulls Real Estate (up 1.32%), Unitech (up 0.35%), NBCC (up 0.45%), Godrej Properties (up 0.2%), Housing Development & Infrastructure (HDIL) (up 1.99%), and Oberoi Realty (up 0.09%) edged higher.

Caplin Point Laboratories jumped 7.99% after consolidated net profit surged 114.44% to Rs 33.41 crore on 46.6% growth in total income to Rs 122.34 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 10 May 2017. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 116% to Rs 47.64 crore in Q4 March 2017 over Q4 March 2016. The company's EBITDA margin surged to 40% in Q4 March 2017 from 27% in Q4 March 2016.

Overseas, most Asian stocks advanced as global equities remained at record levels and a rebound in oil boosted energy producers.

Japan's current account balance posted a stronger-than-expected surplus in March on solid income from overseas investments, maintaining a run of uninterrupted monthly surpluses that has continued for almost three years. The surplus of 2.91 trillion yen ($25.45 billion) marked the 33rd straight month in the black, finance ministry data showed.

Most US stocks finished only slightly higher to hit record highs yesterday, 10 May 2017 as a quiet week of trading continued.

Powered by Capital Market - Live News