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Markets remain firm; Tata Steel, Coal India shares advance

Share Source By

Dion Global

11 Jan 2017

The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking firm cues from fellow Asian peers as investors remained focused to President-elect Donald Trump's first news conference later in the day.

The investors also got some support with Prime Minister Narendra Modi’s statement that India was on threshold of becoming most digitised economy in the world.

Stocks of South Bank, Mpilcorpl, ISFL, Bancoindia and Alpha will remain in focus as they will unveil their third quarter earnings later today. Investors are also expected to react to the World Bank projection of GDP growth to 7 per cent for FY17 from 7.6 per cent estimated earlier.

At 10:10 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 27047.09 up by 147.53 points or by 0.55 per cent, while the NSE Nifty was at 8341.1 points, trading higher by 52.5 points or by 0.63 per cent.

The BSE Sensex touched an intraday high of 27078.69 and an intraday low of 26978.44 while the NSE Nifty touched an intraday high of 8345.45 and an intraday low of 8322.25.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 445.60,+3.41 per cent), Coal India Ltd. (Rs. 308.05,+2.55 per cent), Lupin Ltd. (Rs. 1509.45,+1.47 per cent), Larsen & Toubro Ltd. (Rs. 1406.00,+1.42 per cent), ICICI Bank Ltd. (Rs. 263.00,+1.04 per cent), among others.

Meanwhile, Bajaj Auto Ltd. (Rs. 2717.00,-0.87 per cent), Tata Consultancy Services Ltd. (Rs. 2298.00,-0.75 per cent), Hero MotoCorp Ltd. (Rs. 3049.00,-0.46 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3039.45,-0.29 per cent), Infosys Ltd. (Rs. 969.35,-0.13 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 2107 shares traded, 1442 shares advanced, 570 shares declined while 95 were unchanged.

On the global front, Asian stocks were trading higher today as investors remained focused to President-elect Donald Trump's first news conference later in the day while the US markets closed on a mixed note in the previous trading session as traders booked some profit ahead of the President-elect Donald Trump's first news conference later today who promised of increased infrastructure spending and tax cuts.