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As on Feb 23, 2017 12:00 AM Your results on : Mid Session    
Sensex hits almost 24-week high
23-Feb-2017 (14:32)

Key benchmark indices extended gains and hit fresh intraday high in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 142.57 points or 0.49% at 29,007.28. The Nifty 50 index rose 38.75 points or 0.43% to 8,965.65. The Sensex was trading above the psychological 29,000 level. The Sensex hit its highest level in almost 24 weeks. The Nifty hit its highest level in over 24 weeks.

The Sensex gained 160.97 points or 0.56% at the day's high of 29,065.31 in mid-afternoon trade, its highest level since 8 September 2016. The index rose 39.63 points or 0.14% at the day's low of 28,904.34 in morning trade.

After opening with a positive bias, key benchmark indices continued to extend intraday gains so far during the session.

The BSE Mid-Cap index was up 0.44%. The BSE Small-Cap index was up 0.33%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,362 shares rose and 1,306 shares fell. A total of 216 shares were unchanged.

Most FMCG stocks declined. Colgate-Palmolive (India) (down 0.94%), Dabur India (down 0.22%), Godrej Consumer Products (down 2.08%), Hindustan Unilever (down 0.08%), Marico (down 0.75%), Nestle India (down 0.1%), Tata Global Beverages (down 0.04%), Procter & Gamble Hygiene and Health Care (down 0.07%), Bajaj Corp (down 0.3%) fell. GlaxoSmithkline Consumer Healthcare (up 1.94%), Britannia Industries (up 0.8%), Jyothy Laboratories (up 5.77%), rose.

Bank stocks saw mixed trend. Among private bank stocks, Kotak Mahindra Bank (up 1.16%), RBL Bank (up 5.85%), ICICI Bank (up 0.02%), Axis Bank (up 0.1%), IndusInd Bank (up 0.71%) gained. HDFC Bank (down 0.19%) and Yes Bank (down 0.3%) declined.

PSU bank stocks, Bank of Maharashtra (down 1.86%), State Bank of India (SBI) (down 0.33%), Punjab National Bank (down 0.32%), and Union Bank of India (down 1.23%) dropped. Allahabad Bank (up 2.33%), UCO Bank (up 1.78%), Bank of Baroda (up 0.06%), Canara Bank (up 0.33%), IDBI Bank (up 0.49%), Bank of India (up 0.16%) rose.

Tata Motors rose 0.31% after the company said its board will meet on 2 March 2017 to consider raising Rs 500 crore through private placement of non-convertible debentures. The announcement was made during trading hours today, 23 February 2017.

Tata Motors said it is desirous of offering the sixth series of its rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 500 crore. In this regard, the company will hold a meeting of its duly constituted committee of the board on 2 March 2017. The above issuance is pursuant to the approval of the shareholders passed vide special resolution at the 71th annual general meeting of the company held on 9 August 2016 and the board of directors' resolution passed at its meeting held on 14 February 2017.

Meanwhile, International Monetary Fund (IMF) said yesterday, 22 February 2017 that India's overall outlook remains positive, although growth will slow temporarily as a result of disruptions to consumption and business activity from the recent withdrawal of high-denomination banknotes from circulation. But the nation's expansion will pick up again as economic reforms kick in, said the IMF in its latest assessment. IMF reduced is growth forecasts to 6.6% for fiscal year 2016-17 and to 7.2% in 2017-18.

Challenges remain, however, and there is little scope for complacency. A key concern is the health of the banking system, which is still dealing with a large amount of bad loans, and also heightened corporate vulnerabilities in several key sectors of the economy, IMF said.

Overseas, European shares rose as stocks of companies like Barclays and RSA rose following their positive updates offsetting some weaker firms including Technicolor and Veolia.

Asian stocks were trading mixed as investors digested the minutes of the Federal Reserve's January policy meeting. US equities closed mixed yesterday, 22 February 2017 after minutes from the Federal Reserve's previous meeting hinted that a rate hike coming fairly soon. Wall Street was eagerly awaiting the release of these minutes, as they looked for more clues about when and how many times the Fed would raise rates this year.

Sensex regains 29,000
23-Feb-2017 (13:15)
Market hits fresh intraday high
23-Feb-2017 (12:30)
Pharma stocks gain
23-Feb-2017 (11:25)
Telecom stocks gain as Bharti Airtel to acquire Telenor's India operations
23-Feb-2017 (10:24)
Market opens higher
23-Feb-2017 (09:14)
Weak market breadth
22-Feb-2017 (14:33)
Market breadth turns negative from positive
22-Feb-2017 (13:17)
Market extends intraday gains
22-Feb-2017 (12:25)
Market holds firm
22-Feb-2017 (11:24)
Realty stocks gain
22-Feb-2017 (10:24)
Market drifts higher in early trade
22-Feb-2017 (09:24)
Market regains positive zone
21-Feb-2017 (14:28)
Mid-Cap, Small-Cap indices outperform Sensex
21-Feb-2017 (13:08)
Market trading lower
21-Feb-2017 (12:20)
Realty, telecom stocks see mixed trend
21-Feb-2017 (11:23)
Strong market breadth
21-Feb-2017 (10:22)
Market trading with small gains in early trade
21-Feb-2017 (09:23)
Market hits fresh intraday high
20-Feb-2017 (14:29)
Strong market breadth
20-Feb-2017 (13:07)
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