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Sensex scales record high

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Stocks extended gains and hit fresh intraday high in morning trade, with the Sensex hitting record high. At 10:24 IST, the barometer index, the Sensex, was up 272.55 points or 0.75% at 36,538.48. The was up 83.75 points or 0.76% at 11,032.05. were in demand. Positive Asian stocks boosted sentiment on the domestic bourses.

At 10:24 IST, the barometer index, the Sensex, was up 272.55 points or 0.75% at 36,538.48. The hit high of 36,545.20 in intraday trade, also its record high. The hit intraday low of 36,422.08.

The index was up 83.75 points or 0.76% at 11,032.05. The index hit high of 11,037.55 and low of 10,999.65 so far during the day.

The Nifty moved above the psychological 11,000 mark in opening trade as domestic stocks saw an upbeat start on positive Asian stocks.

The Mid-Cap index was up 0.74%. The S&P BSE Small-Cap index was up 0.71%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1339 shares rose and 595 shares fell. A total of 98 shares were unchanged.

(down 1.4%), (down 1.04%) and (down 0.89%) were the key losers from the Sensex pack.

were in demand. Among shares of and production (E&P) companies, (up 2.28%), (up 1.01%) and (up 0.81%) edged higher.

Among PSU OMCs, shares of (up 3.92%), (up 3.03%) and BPCL (up 3.21%) edged higher as finished sharply lower Wednesday, 11 July 2018.

could reduce under-recoveries of companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.

fell sharply on Wednesday on news that was suddenly set to restore hundreds of thousands of barrels per day, and the US struck a softer line on sanctions.

In the global commodities markets, Brent for September 2018 settlement was up $1.15 at $74.55 a barrel. The contract had fallen $5.46 a barrel or 6.92% to settle at $73.40 a barrel during the previous trading session.

On the macro front, the government will after market hours today, 12 July 2018 announce industrial production data for May 2018. India's industrial output grew 4.9% year-on-year in April 2018, following an upwardly revised 4.6% advance in the previous month.

Overseas, Asian stocks are trading higher, despite lingering concerns around the US and Chinese trade war that show little sign of abating. US stocks fell yesterday, 11 July 2018 after the announced new tariffs on Chinese goods, further escalating tensions between the two largest economies in the world.

The late Tuesday said it would assess 10% tariffs on a further $200 billion in Chinese goods. The US last week hit with levies on $34 billion in goods, and retaliated with tariffs of the same amount. A final decision on the products to be hit with the new tariffs is reportedly expected after a consultation period in late August.

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

First Published: Thu, July 12 2018. 10:34 IST