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Mid-Session: Sensex reclaims 27K, Nifty inches close to 8,350; metal stocks shine

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Dion Global

11 Jan 2017

The key domestic benchmarks continued to trade higher, holding early gains, in late morning deal on Wednesday amid sustained buying by retail and domestic institutional investors, tracking firm cues from fellow Asian peers as investors remained focused to President-elect Donald Trump's first news conference later in the day. Metal index rallied over 4 per cent as signals of quickening price growth in China boosted metals and other commodities. IndusInd Bank surged nearly 6 per cent after the bank reported a better-than-expected growth of 29.2 per cent in its standalone net profit at Rs 750.64 crore for the third quarter ended December 31, 2016.

At 12:25 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was 27051.93, up by 152.37 points or by 0.57 per cent, and the NSE Nifty was at 8343.05, up by 54.45 points or by 0.66 per cent.

In the day’s trade so far, the BSE Sensex touched intraday high of 27078.69 and intraday low of 26978.44, while the NSE Nifty touched intraday high of 8347 and intraday low of 8322.25.

The top gainers of the BSE Sensex pack were Coal India Ltd. (Rs. 312.00,+3.86%), Tata Steel Ltd. (Rs. 446.00,+3.50%), Lupin Ltd. (Rs. 1513.25,+1.73%), Adani Ports & Special Economic Zone Ltd. (Rs. 299.00,+1.68%), HDFC Bank Ltd. (Rs. 1229.00,+1.37%), among others.

On the flip side, Tata Consultancy Services Ltd. (Rs. 2300.00,-0.67%), Infosys Ltd. (Rs. 965.20,-0.56%), Bajaj Auto Ltd. (Rs. 2726.75,-0.51%), Cipla Ltd. (Rs. 572.85,-0.49%), NTPC Ltd. (Rs. 162.20,-0.12%), were among top losers on BSE.

On the sectoral front, metal and bankex stocks emerging as top gainers, adding as much as 4.08 per cent and 1.75 per cent respectively.

The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2745, shares advanced were 1699 while 893 shares declined and 153 were unchanged.