Key benchmarks were trading near the day's high in morning trade. Strong global cues and positive domestic economic data supported gains. The Nifty scaled record high of 12,337.75 in early trade today.
At 10:29 IST, the S&P BSE Sensex, was up 262.64 points or 0.63% at 41,862.36. The Nifty 50 index rose 68.85 points or 0.56% at 12,325.65.
The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index was up 0.62%. The S&P BSE Small-Cap index was up 0.83%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1346 shares rose and 559 shares fell. A total of 136 shares were unchanged. In Nifty 50 index, 38 stocks advanced while 12 declined.
India's industrial production rebounded 1.8% in November 2019, while snapping consistent decline for last three straight months. As per the revised data for industrial production of October 2019, the pace of decline in industrial production is raised to 4.0% compared with 3.8% reported provisionally. The manufacturing sector output improved 2.7%, while the mining sector production also increased 1.7% in November 2019 contributing to the overall increase in industrial production. However, the electricity generation continued to decline for fourth straight month at 5.0% in November 2019.
The Government will unveil December 2019 Consumer Price Inflation (CPI) data today post trading hours.
Delta Corp (up 1.65%) and Tata Elxsi (up 1.66%) will announced their Q3 2019 results today.
Stocks in Spotlight:
Yes Bank was down 5.36%. The bank said its board approved raising upto Rs 10,000 crore through a mix of equity and debt and decided not to proceed with the offer from Erwin Singh Braich-SPGP Holdings. The bank will hold extra-ordinary general meeting to obtain shareholders' approval for fund raising.
Yes Bank is banned from trading in NSE's F&O segment today after the security crossed 95% of market wide position limit.
Lupin was down 1.65%. The drug major in an exchange filing on Saturday announced the completion of a PAI (Prior Approval Inspection) carried out by USFDA at its Nagpur oral solid dosage manufacturing facility. The inspection was carried out between 6 January 2020 and 10 January 2020. The company further announced that the inspection closed with two 483 observations.
In a separate announcement during market hours today Lupin announced that it has received three observations for Tarapur manufacturing (API) facility. USFDA had conducted inspection at company's facility from 16 September 2019 to 20 September 2019.
Tata Motors was down 1.53%. The auto major announced the group's global wholesales for the month of December 2019 on Saturday, 11 January 2020. Tata Motors Group global wholesales declined 3% in December 2019 and stood at 97,348 units. Global wholesales of all passenger vehicles in December 2019 stood at 62,822 units, higher by 5% as compared to December 2018. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in December 2019 declined by 15% and stood at 34,526 units in December 2019 as against December 2018.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)