The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking firm cues from fellow Asian peers after US market ended higher in overnight trade, extending post-election rally to the New Year.
The investors are expected to react to Fed Minutes which suggest that the US economy could grow more quickly if a Donald Trump administration were to announce fiscal stimulus going ahead, which may led to increase in interest rates at faster pace.
The investors may get some support with report that foreign direct investment (FDI) into the country grew by over 27 percent to $27.82 billion during April-October this fiscal, compared to $21.87 billion in April-October 2015-2016.
At 10:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 26790.99 up by 157.86 points or by 0.59 per cent, while the NSE Nifty was at 8243.3 points, trading higher by 52.8 points or by 0.64 per cent.
The BSE Sensex touched an intraday high of 26822.75 and an intraday low of 26738.42 while the NSE Nifty touched an intraday high of 8251.85 and an intraday low of 8223.7
The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 501.50,+3.08 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 280.25,+2.15 per cent), Wipro Ltd. (Rs. 484.00,+1.73 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 197.70,+1.72 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 645.60,+1.25 per cent), among others.
Meanwhile, Mahindra & Mahindra Ltd. (Rs. 1211.75,-0.77 per cent), Housing Development Finance Corporation Ltd. (Rs. 1206.60,-0.49 per cent), Bharti Airtel Ltd. (Rs. 314.00,-0.06 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2191 shares traded, 1658 shares advanced, 448 shares declined while 85 were unchanged.
On the global front, Asian stocks were trading higher today underpinned by a firm closing at the Wall Street. The US markets closed higher in the previous trading session following the release of the Federal Reserves policy minutes from its December meeting and a strong showing in auto sales.