Key benchmark indices registered modest gains in a range-bound session of trade on positive global cues. The barometer index, the S&P BSE Sensex advanced 197.57 points or 0.59% at 33,447.87, as per the provisional closing data. The Nifty 50 index rose 61.20 points or 0.6% at 10,326.85, as per the provisional closing data. Both the Sensex, and the Nifty, hovered in positive terrain throughout the trading session.
IT stocks advanced. Strong gains in Coal India and index heavyweights HDFC and ITC helped key indices to close the session with gains.
Key indices started the session on a firm note on positive Asian stocks after stronger finish on the Wall Street fueled by stronger-than-expected jobs report. Indices traded with modest gains in morning trade before trimming gains in mid-morning trade. Indices hovered with small gains till afternoon trade. Later, indices extended gains towards the close of the session.
The Sensex surged 238.06 points, or 0.71%, at the day's high of 33,488.36 in late trade, its highest level since 30 November 2017. The index rose 62.87 points, or 0.19%, at the day's low of 33,313.17 in early afternoon trade. The Nifty advanced 63.55 points, or 0.61%, at the day's high of 10,329.20 in late trade, its highest level since 30 November 2017. The index rose 16.40 points, or 0.16%, at the day's low of 10,282.05 in early afternoon trade.
Among secondary indices, the S&P BSE Mid-Cap index provisionally rose 0.37%. The S&P BSE Small-Cap index provisionally advanced 0.21%. Both the indices underperformed the Sensex.
The breadth, indicating the overall health of the market, was positive. On the BSE, 1,427 shares rose and 1,288 shares declined. A total of 166 shares were unchanged.
The total turnover on BSE amounted to Rs 4874.20 crore, lower than turnover of Rs 5632.90 crore registered during the previous trading session.
IT stocks advanced. TCS (up 2.35%), Wipro (up 2.03%), HCL Technologies (up 1.1%), Tech Mahindra (up 0.8%) and Infosys (up 0.3%) gained.
Shares of state-run coal mining major Coal India advanced 1.98% at Rs 270.
Index heavyweight and housing finance major HDFC was up 2.14% at Rs 1,713.20.
Index heavyweight and cigarette major ITC advanced 1.38% at Rs 265.30.
Among other news, Gujarat recorded a polling of 68% in the first phase of assembly elections for 89 assembly constituencies held on Saturday, 9 December 2017. The second phase polling will take place on 14 December 2017 in 93 assembly constituencies. Counting of votes will take place on 18 December 2017. The Gujarat assembly has 182 seats.
The provisional figures of direct tax collections up to November, 2017 showed that net collections are at Rs 4.8 lakh crore which is 14.4% higher than the net collections for the corresponding period of last year. The net direct tax collections represent 49% of the total Budget Estimates of direct taxes for the FY 2018, according to the data released by the government on Sunday, 10 December 2017.
Overseas, European stocks advanced ahead of upcoming ECB and Federal Reserve meetings later this week. Asian stocks edged higher following strong finish on the Wall Street on Friday. China's consumer inflation slowed more than expected in November and factory prices decelerated sharply, official data showed Saturday, 9 December 2017. The consumer price index (CPI) a main gauge of inflation rose by 1.7% in November from a year ago, compared to a 1.9% increase the previous month and 1.6% in September, said the National Bureau of Statistics.
US equities closed higher on Friday, 8 December 2017, following the release of a stronger-than-expected jobs report. The US economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. The unemployment rate held steady at 4.1%.
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