The Indian stocks edged higher in late morning deal on Wednesday, helped by strong buying across midcap and smallcap stocks, as traders roll over their positions ahead of the September futures & options (F&O) contracts expiry this Thursday. Further, a bearish trend across markets in Asia as traders remained jittery ahead of an OPEC meet which is unlikely to result in any substantial measures to address an ongoing crude oil global supply glut, curbed risk taking appetite.
At 12:15 PM, the Bombay Stock Exchange bellwether Sensex was at 28246.45, up by 22.75 points or by 0.08 per cent, and the NSE Nifty was at 8721.55, up by 15.15 points or by 0.17 per cent.
In the day’s trade so far, the BSE Sensex touched intraday high of 28292.29 and intraday low of 28198.3, while the NSE Nifty touched intraday high of 8730.4 and intraday low of 8703.15.
The top gainers of the BSE Sensex pack were State Bank of India (Rs. 252.90,+1.59%), Tata Motors Ltd. (Rs. 540.30,+1.57%), Bharti Airtel Ltd. (Rs. 318.05,+1.29%), GAIL (India) Ltd. (Rs. 377.60,+1.18%), Tata Steel Ltd. (Rs. 372.05,+1.14%), among others.
Meanwhile, Reliance Industries Ltd. (Rs. 1089.15,-1.92%), Hindustan Unilever Ltd. (Rs. 889.65,-0.70%), Wipro Ltd. (Rs. 481.05,-0.69%), Infosys Ltd. (Rs. 1036.00,-0.43%), Sun Pharmaceutical Industries Ltd. (Rs. 767.90,-0.34%), were among top losers on BSE.
On the sectoral front, metal and realty stocks were leading the gain, adding as much as 0.86 per cent and 0.83 per cent respectively.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2604, shares advanced were 1554 while 858 shares declined and 192 were unchanged.