After paring gains in afternoon trade, key benchmark indices firmed up once again and hit fresh intraday high in mid-afternoon trade. At 14:16 IST, the barometer index, the S&P BSE Sensex, was up 195.97 points or 0.62% at 32,029.96. The Nifty 50 index was up 66.80 points or 0.67% at 10,051.60.
The Sensex crossed the the psychologically important 32,000 mark in mid-afternoon trade. The Nifty was trading above the psychologically important 10,000 mark after breaching that level in morning trade. The Sensex rose 198.23 points, or 0.62% at the day's high of 32,032.22 in mid-afternoon trade. The index fell 20.32 points, or 0.06% at the day's low of 31,813.67 in early trade. The Nifty rose 67.70 points, or 0.68% at the day's high of 10,052.50 in mid-afternoon trade. The index fell 7.70 points, or 0.08% at the day's low of 9,977.10 in early trade.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,604 shares rose and 986 shares fell. A total of 116 shares were unchanged.
Most auto stocks rose. Mahindra & Mahindra (up 1.16%), TVS Motor Company (up 1.07%), Maruti Suzuki India (up 0.93%), Hero MotoCorp (up 0.85%), Ashok Leyland (up 0.32%) and Escorts (up 0.20%), edged higher. Bajaj Auto (down 0.1%) and Tata Motors (down 0.78%), edged lower. Eicher Motors was flat at Rs 31,251.10.
Most fertilisers shares rose. Fertilisers & Chemicals Travancore (up 4.99%), Deepak Fertilisers & Petrochemicals Corporation (up 3.30%), Coromandel International (up 2.51%), Tata Chemicals (up 1.10%), National Fertilizers (up 0.72%), Zuari Global (up 0.71%) and Rashtriya Chemicals and Fertilisers (up 0.11%), edged higher. Chambal Fertilisers & Chemicals (down 0.26%) and Gujarat State Fertilizers & Chemicals (down 1.45%), edged lower.
IndusInd Bank gained 0.73% to Rs 1,729.90 after net profit rose 24.96% to Rs 880.10 crore on 21.08% rise in total income to Rs 5395.52 crore in Q2 September 2017 over Q2 September 2016. The result was announced during market hours today, 12 October 2017.
Overseas, most European shares were trading lower, with investors awaiting data and monitoring speeches from central bankers at the International Monetary Fund's (IMF) annual meeting in Washington D.C.
Asian equities were trading higher, taking cues from fresh overnight records set by key US indexes as the earnings season kicks off. Meanwhile, the US Federal Reserve signaled its confidence that the US economy was strong enough to support further rate increases.
US equities settled higher on Wednesday as gains in the utilities, technology and oil & gas sectors boosted shares. The Dow Jones Industrial Average gained 0.18% to hit a new all time high, while the S&P 500 index added 0.18%, and the Nasdaq Composite index climbed 0.25%.
Minutes from the US Federal Reserve's policy-setting gathering in September indicated a desire to increase rates one additional time despite low inflation. Some Fed policy members expressed concerns about inflation running below its 2% annual target, while others worried that waiting for inflation to normalize policy could lead to an overheated market.
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