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Nifty crosses 10,500 mark

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Key benchmark indices extended early gains and hit fresh intraday high in morning trade. At 10:21 IST, the barometer index, the Sensex, was up 160.93 points or 0.47% at 34,262.06. The index was up 43.15 points or 0.41% at 10,501.80. Strong gains in and pharma shares supported bourses. Nifty was trading above the 10,500 mark.

The key indices opened higher and firmed up further as the session progressed. The Sensex rose 167.02 points, or 0.49% at the day's high of 34,268.15 in morning trade, its highest intraday level since 1 March 2018. The index rose 53.81 points, or 0.16% at the day's low of 34,154.94 in early trade. The Nifty rose 46.65 points, or 0.45% at the day's high of 10,505.30 in morning trade, its highest intraday level since 1 March 2018. The index rose 17.15 points, or 0.16% at the day's low of 10,475.80 in early trade.

Among secondary barometers, the Mid-Cap index was up 0.65%. The Small-Cap index was up 0.62%. Both these indices outperformed the Sensex.

The broad market depicted strength. There were almost two gainers against every loser on BSE. 1,352 shares rose and 711 shares fell. A total of 115 shares were unchanged.

shares were in demand. (up 1.83%), (up 1.77%), Steel Authority of (up 1.42%), Vedanta (up 1.02%), NMDC (up 0.95%), (up 0.94%), (up 0.29%), (up 0.27%) and (up 0.12%), edged higher. was down 0.03%.

Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for May 2018 delivery was currently up 0.18% at $3.069 per pound on the COMEX.

Pharmaceutical shares were trading higher. (up 2.17%), (up 2.16%), (up 1.90%), (up 1.72%), (up 1.67%), (up 1.26%), Lupin (up 1.06%), (up 1.04%), (up 0.83%), Cadila Healthcare (up 0.67%), (up 0.64%), (up 0.4%) and (up 0.35%), edged higher. was down 0.11%.

On macro front, the all-general consumer price index (CPI) inflation eased marginally to five-month low of 4.28% in March 2018, compared with 4.44% in February 2018.

India's industrial production continued to record a healthy growth for the fourth straight month at 7.1% in February 2018 over February 2017. The manufacturing sector's production surged 8.7% in February 2018, contributing to the overall growth in industrial production. However, the growth of moderated to 4.5%, while the output declined 0.3% in February 2018.

Overseas, Asian shares were mixed. US stocks closed sharply higher on Thursday, as geopolitical concerns appeared to fade after tweeted that a military strike on may not be imminent. Escalating tensions over the Middle Eastern country were seen as a major contributor to weakness in Wednesday's session.

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

First Published: Fri, April 13 2018. 10:29 IST