The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking a positive trend across markets in Asia despite a Japanese earthquake and a tsunami warning. Record high finish at Wall Street overnight on higher oil prices amid optimism over an OPEC deal to cut output next week also bolstered risk taking appetite.
Volatility may remain high at the domestic bourses as traders roll over their positions ahead of Thursday’s November derivative contract expiry, and amid continued caution over the impact of demonetization in Asia’s third biggest economy, curbing gains at Dalal Street.
Shares of Larsen & Toubro (L&T) and GTL Infra will be in focus today as these companies reveal their September quarter earnings.
At 10:15 AM, the Bombay Stock Exchange bellwether Sensex was at 25876.21 up by 111.07 points or by 0.43 per cent, while the NSE Nifty was at 7954.5 points, trading higher by 25.4 points or by 0.32 per cent.
The BSE Sensex touched an intraday high of 26039.7 and an intraday low of 25816.53 while the NSE Nifty touched an intraday high of 8018.45 and an intraday low of 7946.35
The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 261.05,+2.31 per cent), Maruti Suzuki India Ltd. (Rs. 4879.40,+1.90 per cent), Cipla Ltd. (Rs. 554.90,+1.83 per cent), Tata Consultancy Services Ltd. (Rs. 2168.45,+1.68 per cent), Tata Steel Ltd. (Rs. 377.20,+1.52 per cent), among others.
Meanwhile, NTPC Ltd. (Rs. 152.95,-1.26 per cent), GAIL (India) Ltd. (Rs. 415.35,-1.14 per cent), Dr. Reddy’s Laboratories Ltd. (Rs. 3103.30,-1.00 per cent), Bharti Airtel Ltd. (Rs. 297.30,-0.73 per cent), Larsen & Toubro Ltd. (Rs. 1340.00,-0.61 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 2064 shares traded, 1126 shares advanced, 839 shares declined while 99 were unchanged.
On the global front, Asian stocks were trading higher today as oil prices held an advance, rising to nearly USD 49 per barrel as Iran expressed confidence that the OPEC will agree to a supply-cut deal before next week’s meeting at Vienna. US stocks closed higher in the previous trading session driven by a rally in oil prices and a fall in the dollar.