Markets maintain momentum; ICICI Bank, MSI top gainers
12/01/2018 11:16
The key domestic benchmark indices were trading in the green in the late morning trading session tracking strong cues and firm trend across global markets.

The sustained fund inflows from foreign investors bolstered investor sentiments as the government eased foreign direct investments (FDIs) ownership rules in sectors such as retail, civil aviation, and realty.

Following earnings report from TCS, rival Infosys will release its Oct-Dec quarter financial report today after market hours.

Shares of Shree Cements rose 1.5 percent in the early trade on strong December quarter numbers. Also, Jain Irrigation rallied 5 percent and IFCI gained 4 percent after both stocks came out of F&O ban.

At 11:15 a.m, the Bombay Stock Exchange bellwether Sensex was at 34587.41 up by 83.92 points or by 0.24 per cent, while the NSE Nifty was at 10673.75 up by 22.55 points or by 0.21 per cent.

The BSE Sensex touched an intraday high of 34638.42 and an intraday low of 34558.36 while the NSE Nifty touched an intraday high of 10690.25 and an intraday low of 10669.85.

The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 313.10,+1.18 per cent), Maruti Suzuki India Ltd. (Rs. 9449.05,+1.15 per cent), Reliance Industries Ltd. (Rs. 946.80,+1.02 per cent), Larsen & Toubro Ltd. (Rs. 1329.30,+0.68 per cent), Coal India Ltd. (Rs. 309.60,+0.55 per cent), among others.

Meanwhile, Tata Consultancy Services Ltd. (Rs. 2756.00,-1.16 per cent), Bharti Airtel Ltd. (Rs. 511.50,-0.63 per cent), Wipro Ltd. (Rs. 319.25,-0.56 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 585.55,-0.48 per cent), Asian Paints Ltd. (Rs. 1184.15,-0.40 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 2760 shares traded, 1625 shares advanced, 1008 shares declined while 127 were unchanged.

On the global front, Asian stocks were trading higher tracking the strong lead from Wall Street, while the Wall Street closed higher in the previous trading session as rising oil prices lifted energy stocks and investors bet on a strong US corporate earnings season.