Key benchmark indices traded firm with modest gains in mid-morning trade. At 11:16 IST, the barometer index, the S&P BSE Sensex, advanced 206.42 points or 0.6% at 34,360.27. The Nifty 50 index rose 58.50 points or 0.55% at 10,617.35.
Key benchmark indices had opened the session on a strong note with the Sensex and the Nifty hitting record highs in early trade. Indices hovered with modest gains so far, tracking firmness in Asian markets and overnight gains on Wall Street.
Among secondary indices, the S&P BSE Mid-Cap index rose 0.83%. The S&P BSE Small-Cap index advanced 0.81%. Both these indices outperformed the Sensex.
Overseas, Asian stocks edged higher following firm US lead as investors awaited upcoming earnings releases. US stocks rose to record levels on Friday, 5 January 2018 even as Wall Street shook off jobs data that missed expectations. The US economy added 148,000 jobs in December, according to the Labor Department, as against expectations of 190,000 jobs.
Closer home, the broad market depicted strength. There were about two gainers against every loser on the BSE. 1,772 shares advanced and 882 shares declined. A total of 114 shares were unchanged.
Auto stocks nudged higher. Hero MotoCorp (up 0.74%), Tata Motors (up 0.35%), Bajaj Auto (up 0.32%), Mahindra & Mahindra (up 0.22%) and Ashok Leyland (up 0.2%) gained. Eicher Motors (down 0.16%) edged lower.
Maruti Suzuki India was up 0.22% at Rs 9,454.60. The company said it targets to re-define compact car design language with an all new compact car design language in the form of ConceptFutureS from February 2018. ConceptFutureS is a uniquely styled compact car that has a bold presence with its distinct SUV like characters aimed to delight customers in the compact car space. The announcement was made during market hours today, 8 January 2018.
Telecom stocks declined. Idea Cellular (down 4.5%), Bharti Airtel (down 3.41%) and Reliance Communications (down 0.15%) edged lower.
Sagar Cements rose 1.11% at Rs 1,107.95 after the company reported strong production and despatch figures in December 2017. Production rose 64.55% to 2.50 lakh metric tonne on 64.95% increase in sales to 2.54 lakh metric tonne in December 2017 over December 2016. The announcement was made after market hours on Friday, 5 January 2018.
The 14-day long winter session of the Parliament concluded on Friday, 5 January 2018. The Speaker said that 16 bills were introduced in the Lok Sabha by the government in the session, of which 12 bills including the triple talaq bill was passed. Important bills passed during the session also included the Requisitioning and Acquisition of Immovable Property Bill and the Goods and Services Tax (Compensation to States) Amendment Bill.
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