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Bull run continues at D-Street; Nifty above 8,300 level

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Dion Global

11 Jan 2017

Tracking a rally in most of the fellow Asian peers after signals of quickening price growth in China boosted metals and other commodities, Indian equity benchmarks continued to trade higher during late morning deals on Wednesday. Markets witnessed across-the-board buying from retail investors and domestic institutional investors.

At 11:10 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 27,037.68 up by 138.12 points or 0.51 per cent while the NSE Nifty was at 8,338.35 up by 49.75 points or 0.6 per cent.

However, investors remained cautious ahead of the macroeconomic data and December quarter earnings from blue-chip companies, restricted further gains at the domestic markets.

Buying momentum was witnessed mainly in the metal and banking sector stocks.

The top gainers of the BSE Sensex pack were Coal India Ltd. (Rs. 311.40,+3.66%), Tata Steel Ltd. (Rs. 445.85,+3.47%), Lupin Ltd. (Rs. 1509.00,+1.44%), Adani Ports & Special Economic Zone Ltd. (Rs. 297.60,+1.21%), Larsen & Toubro Ltd. (Rs. 1402.95,+1.20%), among others.

Major show spoilers were Bajaj Auto Ltd. (Rs. 2717.90,-0.84%), Tata Consultancy Services Ltd. (Rs. 2300.05,-0.67%), Cipla Ltd. (Rs. 571.95,-0.64%), Hero MotoCorp Ltd. (Rs. 3049.70,-0.43%), Infosys Ltd. (Rs. 967.00,-0.37%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2458 shares traded, 1570 advanced while 747 shares declined and 141 remained unchanged.

On the global front, most of the Asian markets were trading in the green as traders keenly eyed the President-elect Donald Trump's news conference to be held later in the day which may offer some clues to his policies on tax, fiscal spending, international trade and currencies.