You are here: Home » News-CM » Equities » Market Report
Business Standard

Broader market soars

Capital Market 

The market was hovering near the day's high in early afternoon trade. At 12:27 IST, the barometer index, the Sensex, was up 400.80 points or 1.17% at 34,700.27. The index was up 139.95 points or 1.36% at 10,441.

Gains were supported by value buying after recent steep fall in share prices. The central bank's decision to inject liquidity into the system through purchase of government bonds also improved sentiment.

Among secondary barometers, the Mid-Cap index was up 3.94%. The Small-Cap index was up 3.28%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1875 shares rose and 533 shares fell. A total of 106 shares were unchanged.

Shares of aviation companies rose after suggested that the government has sought for Election Commission's nod for cutting excise duty on jet fuel. Current rate of excise duty on is 14%. In 2014, excise duty on Was increased from 8% to 14%. (up 7.92%), (up 5.21%) and (up 3.65%), edged higher.

Auto stocks rose. (up 7.81%), (up 4.50%), Escorts (up 4.22%), (up 4.08%), (up 2.76%), (up 2.36%), (up 2.13%) and (up 1.76%), edged higher. was down 0.33%.

On the macro front, based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve of India (RBI) has decided to conduct purchase of the following Government securities under Open Market Operations for an aggregate amount of Rs 12000 crore on 11 October 2018 through multi-security auction using the multiple price method.

Overseas, Asian shares were mixed on Wednesday after a mixed finish on Wall Street overnight. US stocks closed mostly lower Tuesday after a volatile session as investors continued to fret over the implication of higher bond yields on equities. The Nasdaq, however, snapped a three-day losing streak in line with a rebound in

US said Tuesday that he did not like the Federal Reserve's decision to continue hiking interest rates. The last raised its benchmark interest rate by a quarter point in September, while raising its expectations for economic growth for this year and next.

On the US data front, the small-business optimism index fell 0.9 point in September, falling from a 45-year high to a seasonally adjusted level of 108.8.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 10 2018. 12:27 IST