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Sensex, Nifty hit fresh intraday high

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Stocks extended gains and hit fresh intraday high in mid-afternoon trade. At 14:23 IST, the barometer index, the Sensex, was up 285.51 points or 0.8% at 35,943.37. The was up 76.75 points or 0.71% at 10,849.40. Most capital goods stocks rose. Power generation stocks rose. Upbeat global stocks boosted sentiment on the domestic bourses.

Trading for the week began on a firm note as key benchmark indices saw gap-up opening on positive Asian stocks. Stocks trimmed gains in morning trade after an initial upmove. Fresh buying in pivotals propelled the key benchmark indices near day's high in early afternoon trade. Key benchmark indices were trading firm in afternoon trade.

The Mid-Cap was up 1.13%. The Small-Cap index was up 1.39%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1690 shares rose and 859 shares fell. A total of 123 shares were unchanged.

Software TCS dropped 1.23% to Rs 1,889.80

Most capital goods stocks rose. (up 2.55%), BEML (up 0.23%), (up 1.67%), (up 1.64%), (up 1.05%) and (up 1.27%) rose. Bharat (down 0.07%) and (down 1.71%) fell.

Power generation stocks rose. (up 3.86%), (up 1.81%), CESC (up 1.77%), NTPC (up 0.6%), (1.96%), (up 2.42%), NHPC (up 2.78%), (up 4.24%), (up 1.65%) edged higher.

rose 2.55% after the company said it won orders worth Rs 52.07 crore from various clients for industrial, institutional and residential projects. The announcement was made during trading hours today, 9 July 2018.

Overseas, shares in and gained as investors set aside concerns about escalating trade tensions to prepare for the latest earnings season after signs of continued economic strength.

In Europe, investors reacted to news that the UK's has resigned from his post after disagreements with the rest of the and in particular the reached a compromise Friday to go ahead with a plan that would mean the country had the closest possible ties with the EU. May is due to address the on Monday.

Meanwhile, in Germany, data showed exports rising in May, widening the trade surplus, despite ongoing trade frictions with the

US stocks closed solidly higher on Friday, 6 July 2018, after a read on the labor market came in stronger than expected, supporting the thesis that economic fundamentals remain healthy despite trade-war anxieties.

On the economic data front, the US created 213,000 new jobs in June, while the readings for May and April were also revised higher. Separately, the unemployment rate rose to 4% from 3.8%. Meanwhile, the nation's trade deficit shrank 6.6% in May to a 19-month low.

On the political front, the officially imposed tariffs on $34 billion of Chinese imports at midnight Eastern Time, and implemented tariffs on the same value in US goods, as promised.

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

First Published: Mon, July 09 2018. 14:27 IST