The broad market continued to show strength even as key benchmark indices traded off the day's high in early afternoon trade. The barometer index, the S&P BSE Sensex, was currently up 203.71 points or 0.8% at 25,657.27. The 50-unit CNX Nifty was up 80.50 points or 1.04% at 7,797.50. Positive cues from overseas markets aided gains on the domestic bourses. Asian stocks were in green after a rally in US stocks overnight.
On BSE, there were more than two gainers against every loser. The BSE Small-Cap index was up 1.1%. The BSE Mid-Cap index was up 1.05%. Both these indices outperformed the Sensex.
Auto stocks edged higher. Capital goods stocks were also in demand.
Meanwhile, the outcome of a survey showed that India's services sector activity grew for a second month in August. The seasonally adjusted Nikkei Services Business Activity Index rose to 51.8 in August from July's 50.8, marking a second month above the 50-level that separates growth from contraction.
At 12:16 IST, the S&P BSE Sensex was up 203.71 points or 0.8% at 25,657.27. The index jumped 291.90 points at the day's high of 25,745.46 in morning trade. The index rose 102.21 points at the day's low of 25,555.77 in early trade.
The CNX Nifty was up 80.50 points or 1.04% at 7,797.50. The index hit a high of 7,811.80 in intraday trade. The index hit a low of 7,754.05 in intraday trade.
The BSE Mid-Cap index was up 109.91 points or 1.05% at 10,546.98. The BSE Small-Cap index was up 118.43 points or 1.1% at 10,868.06. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was quite strong. There were more than two gainers against every loser on BSE. 1,631 shares rose and 705 shares declined. A total of 93 shares were unchanged.
Auto stocks edged higher. Tata Motors (up 3.52%), Bajaj Auto (up 1.7%), Ashok Leyland (up 1.63%), Maruti Suzuki India (up 2.16%), Mahindra & Mahindra (up 1.05%) and Eicher Motors (up 0.61%) edged higher. TVS Motor Company (down 0.11%) and Hero MotoCorp (down 0.27%) edged lower.
Capital goods stocks gained. Bharat Heavy Electricals (up 3.58%), Crompton Greaves (up 2.79%), Thermax (up 2.03%), L&T (up 2.01%), ABB India (up 0.96%), Havells India (up 1.22%), Bharat Electronics (up 0.41%), Siemens (up 0.62%) and Sadbhav Engineering (up 0.12%) edged higher. BEML (down 0.47%) edged lower.
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