Equity Market Updates –Positive Market Breadth – Axis Direct
Capital Market - Live News
Apr 23, 2018 | Source: Capital Market - Live News
Equity Market: Positive Market Breadth
Stocks extended gains and hit fresh intraday high in afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 186.33 points or 0.54% at 34,601.91. The Nifty 50 index was up 67.80 points or 0.64% at 10,631.85. Realty stocks gained.
Among secondary barometers, the BSE Mid-Cap index was up 0.56%. The BSE Small-Cap index was up 0.81%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,454 shares rose and 1,101 shares fell. A total of 145 shares were unchanged.
IndusInd Bank (up 3.5%), TCS (up 2.8%) and Infosys (up 2.5%) edged higher from the Sensex pack.
Power Grid Corporation of India (down 1.01%), HDFC Bank (down 0.96%) and Coal India (down 0.8%) edged lower from the Sensex pack.
Realty stocks gained. Oberoi Realty (up 7.83%), Godrej Properties (up 4.62%), Prestige Estates Projects (up 1.18%), DLF (up 0.92%), Indiabulls Real Estate (up 0.89%), D B Realty (up 1.74%), Unitech (up 1.32%) and Sobha (up 0.63%) rose. Housing Development and Infrastructure (down 1.74%) fell.
Indian Hume Pipe Company jumped 5.36% after the company secured a work order of Rs 578.50 crore from Madhya Pradesh Jal Nigam Maryadit for Kundaliya Multi Village Rural Water Supply Scheme District - Rajgarh, Madhya Pradesh. The announcement was made on Saturday, 21 April 2018.
Overseas, European shares fell on Monday as results from Switzerlands biggest bank, UBS, disappointed investors.
Asian stocks were trading lower as investors kept an eye on rising US Treasury yields. US stocks ended lower on Friday, as weakness in technology and consumer staples shares offset the latest batch of corporate earnings, which largely continued to beat expectations. While earnings were the primary driver of sentiment last week, investors lately grew concerned about a jump in bond yields that reflect rising inflation expectations.