After trimming gains in afternoon trade, the two key benchmark indices recovered in mid-afternoon trade, with barometer index, the S&P BSE Sensex, and the Nifty 50, both, hitting highest level in almost eleven months. At 14:16 IST, the Sensex was up 130.86 points or 0.47% at 27,757.55. The Nifty was currently up 35.20 points or 0.42% at 8,503.10. Gains in global stocks underpinned sentiment on the domestic bourses. Asian and European stocks rose after better American jobs data and hopes for continued support from the world's central banks helped power Wall Street to a record high overnight.
The Sensex gained 134.49 points or 0.49% at the day's high of 27,761.18 in mid-afternoon trade, its highest level since 20 August 2015. The barometer index rose 41.12 points or 0.15% at the day's low of 27,667.81 in morning trade. The Nifty gained 37.65 points or 0.44% at the day's high of 8,505.55 in mid-afternoon trade, its highest level since 19 August 2015. The index rose 11.30 points or 0.13% at the day's low of 8,479.20 in morning trade.
The market breadth indicating the overall health of the market was negative. On BSE, 1,521 shares declined and 1,130 shares rose. A total of 165 shares were unchanged. The BSE Mid-Cap index was currently up 0.36%. The BSE Small-Cap index was currently up 0.04%. Both these indices underperformed the Sensex.
In overseas stock markets, European stocks edged higher on waning Brexit fears after Theresa May was named Britain's new Prime Minister. In the UK, the FTSE 100 index was currently up 0.15%. May is expected to take charge as Britain's new Prime Minster on Wednesday evening. In Asia, Japanese stocks led gains among Asian equities as investors gained confidence in Japanese Prime Minister Shinzo Abe's ruling coalition, which increased its control in the upper house of parliament after election for the upper house held on 10 July 2016. The Nikkei 225 Average closed 2.46% higher. Anticipation was also growing that Abe would soon introduce a fresh fiscal stimulus package to help the stagnant economy. Speculation was also growing that an expected meeting between former US Federal Reserve Chairman Ben Bernanke and Abe today, 12 July 2016, would include talks about a radical measure in which a central bank directly funds government spending. The Nikkei 225 Average surged 4% yesterday, 11 July 2016, registering its biggest daily-percentage gain since 2 March 2016, as Abe's ruling-coalition victory in the upper-house election stoked speculation of more fiscal stimulus.
US stocks edged higher yesterday, 11 July 2016, with the S&P 500 index hitting record high on intraday as well as on closing basis as investors bought stocks amid a reinvigorated appetite for assets perceived as risky following a surprisingly strong jobs report for June 2016 released during trading hours in the US on Friday, 8 July 2016.
Capital goods stocks declined. Bharat Heavy Electricals (Bhel) (down 1.54%), Praj Industries (down 2.52%), Punj Lloyd (down 1.6%), BEML (down 0.76%), ABB India (down 0.32%), Crompton Greaves (down 0.55%), Siemens (down 0.2%) and Thermax (down 1.97%) declined. Bharat Electronics (up 0.29%) and L&T (up 0.04%) rose.
FMCG stocks saw mixed trend. Colgate-Palmolive (India) (down 1.34%), Dabur India (down 0.62%), Godrej Consumer Products (down 2%), Hindustan Unilever (down 0.67%), Nestle India (down 0.87%), Procter & Gamble Hygiene and Health Care (down 1.2%) and Bajaj Corp (down 0.14%) fell. Britannia Industries (up 0.19%), GlaxoSmithkline Consumer Healthcare (up 0.46%), Marico (up 1.47%), Tata Global Beverages (up 0.26%) and Jyothy Laboratories (up 0.39%) rose.
Eveready Industries India rose 1.36% to Rs 280.25 after a block deal of 1.54 lakh shares saw 0.21% equity of the company changing hands at Rs 278 per share at 11:26 IST on BSE today, 12 July 2016.
Opto Circuits (India) surged 13.83% after the company said that its wholly owned subsidiary Eurocor Gmbh has launched coated shunt balloon catheter used for dialysis patients which reduces re-intervention and preserves future treatment options.The announcement was made during market hours today, 12 July 2016.
Powered by Capital Market - Live News
