)
Benchmark indices are trading higher after trimming some of the early gains as the losses in stocks like Reliance and ICICI Bank have capped the gains at higher levels.
At 9:35AM, the 30-share Sensex was up 101 points at 28,989 and the 50-share Nifty was up 17 points at 8,747.
The Sensex has touched its new all-time high level of 29,012.88 and Nifty has hit its fresh record-high level of 8,754.65 in today’s session.
In the broader market, the BSE Midcap index is largely in sync with its larger peers with a gain of around 0.2% and BSE Smallcap index has performed better than the front-liners with a gain of 0.4%. Market breadth in BSE is positive with 954 advances against 546 declines.
Meanwhile, foreign institutional investors were net buyers in equities to the tune of Rs 2,065 crore on Wednesday, as per the provisional stock exchange data.
Buzzing Stocks
All the 12 sectoral indices of BSE are in green. BSE Metal index has gained around 1% and is the top gainer followed by BSE Healthcare index, up 0.7% and BSE FMCG index, up 0.6%.
Sesa Sterlite has gained around 3% on media reports that the company may soon restart mining operations in the state of Goa where it has a large stake in iron ore mines. Tata Steel has gained around 0.8% and Hindalco has gained around 0.5%.
ITC has gained over 1% post its results announcement late Wednesday on the back of weak cigarette volumes and downgrade by several brokerages.
Auto stocks are trading firm. Tata Motors has gained around 0.5% ahead of the launch of its new hatchback the 'Bolt' later today. Bajaj Auto has gained over 1% and Hero Motocorp has gained around 1%.
Among pharma shares, Sun Pharma has gained over 1%, Cipla is up 0.8% and Dr Reddys Lab has gained around 0.2%.
Among major losers, ICICI Bank and RIL have lost around 0.3% each while Bharti Airtel has declined over 1%.
Global Markets
Asian shares were trading firm on expectations tha European Central Bank at its meet later today would announce measures to boost the sagging economy in the euro zone.
Shares in Japan were trading with marginal losses while Shanghai Composite was up 0.2%, Straits Times gained 0.3% and Hang Seng was trading 0.8% higher.
Major US share indices ended higher, amid a volatile trading session on Wednesday, on hopes that the European Central Bank at its meeting later today would announce fresh stimulus measures. However, profit taking in IT major IBM capped upside gains.
The Dow Jones industrial average was up 39 points at 17,554, the broader S&P 500 gained 10 points at 2,032 and the tech-laden Nasdaq Composite ended 13 points higher at 4,667.
