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Sensex hits intraday high above 34,000

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Key benchmark indices extended gains and hit fresh intraday high in morning trade. At 10:25 IST, the barometer index, the Sensex, was up 106.81 points or 0.31% at 34,024.75. The was up 36.25 points or 0.35% at 10,457.65. The Sensex hit an intraday high above the 34,000 level. Telecom stocks rose. gained. Domestic macroeconomic data released after market hours yesterday, 12 March 2018, signalling an economic turnaround boosted the sentiment.

Volatility struck bourses in early trade as the key benchmark indices turned positive soon after an initial decline triggered by subdued Asian stocks.

The Mid-Cap was up 0.95%. The Small-Cap was up 1.06%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,259 shares rose and 598 shares fell. A total of 84 shares were unchanged.

Domestic macroeconomic data released after market hours yesterday, 12 March 2018, signalled an economic turnaround. India's industrial production continued to record a strong growth for the third straight month at 7.5% in January 2018 from 7.1% growth in December 2017. The manufacturing sector's production surged 8.7% in January 2018, supporting overall growth in industrial production. The output growth slowed down to 0.1% in January 2018, while the generation growth accelerated to five-month high of 7.6% in January 2018, contributing to the improvement in overall industrial production growth in January 2018.

The all-general CPI inflation dipped to four-month low of 4.44% in February 2018, compared with 5.07% in January 2018. The corresponding provisional inflation rate for rural area was 4.37% and urban area 4.52% in February 2018 as against 5.21% and 4.93% in January 2018. However, the core CPI inflation rose marginally to 5.04% in February 2018 compared with 5% in January 2018.

Overseas, most Asian stocks were trading lower ahead of US reading on inflation due today, 13 March 2018, which is likely to give some idea about whether the Federal Reserve will accelerate its pace of rate increases.

In US, the and the index finished lower Monday, 12 March 2018 weighed down by the industrials sector, while the Index closed at a record, in part due to optimism over Friday's jobs data, which showed solid economic growth without triggering wage pressure.

Back home, (up 2.47%), (up 2.17%) and (up 1.17%) edged higher from the Sensex pack.

Telecom stocks rose. (up 1.08%), MTNL (up 1.25%), (Maharashtra) (up 4.86%), (up 0.77%) and (up 0.43%) rose.

Shares of rose 1.97%. is a provider of and is a unit of

gained. (up 2.08%), (up 0.42%), ACC (up 0.72%) and (up 0.47%) gained.

was up 0.19%. Grasim has exposure to the through its holding in

rose 2.21% to Rs 1,788.55. bought 1.47 lakh shares of the company at Rs 1,755 per share in a bulk deal on the BSE on 12 March 2018. It purchased 2.15 lakh shares at Rs 1,755 apiece in a bulk deal on the NSE.

rose 1.5% to Rs 293.80 after promoter increased stake in the company through open market transaction yesterday, 12 March 2018. Gloxinia Investment and Finance sold 2.35 lakh shares of at Rs 287.57 per share in a bulk deal on the NSE on 12 March 2018. Promoter and Investment bought 2.39 lakh shares at Rs 287.69 apiece. and Investment controlled 13.79% and Gloxinia Investment and Finance held 1.15% stake end December 2017.

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

First Published: Tue, March 13 2018. 10:27 IST