Category : Market Commentary
Headline : Mid-Session: Sensex up 200 pts, Nifty above 11,650
Date and Time : Oct-18-2019 12:29

Indian benchmarks continued to trade higher during the noon trading session amid mixed global cues. Overseas, European stocks look set to open on a lower side on Friday amid growth worries after official data showed that China's economy grew at the slowest rate in nearly three decades in the third quarter, raising pressure on policymakers to roll out more measures.

Meanwhile, Asian markets remain mostly lower, the dollar declined and gold held steady while oil remains little changed.

Among key shares, shares of Adani Enterprises were trading higher for the fifth straight day, up 7 per cent to Rs 174 on the BSE in the intra-day deals on Friday after the company set up a subsidiary company named Adani Metro Transport (AMTL) to focus on metro rail projects.

Among others, shares of Larsen & Toubro (L&T) added more than 2 percent intraday on October after company is going to increase its stake in the subsidiary.

At 12:16 hours, the 30-share benchmark index was trading at 39260.11 up by 208.05 points or by 0.53 per cent, while the NSE Nifty was at 11656 up by 69.65 points or by 0.6 per cent.

The BSE Sensex touched intraday high of 39291.88 and intraday low of 38963.6 The NSE Nifty touched intraday high of 11656.6 and intraday low of 11553.15.

YES Bank Ltd. (Rs. 50.65,+6.86%), Reliance Industries Ltd. (Rs. 1423.30,+1.94%), Larsen & Toubro Ltd. (Rs. 1450.00,+1.81%), Vedanta Ltd. (Rs. 150.15,+1.35%), Power Grid Corporation of India Ltd. (Rs. 200.35,+1.34%), among others were the top gainers.

The top losers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 585.45,-1.30%), Bharti Airtel Ltd. (Rs. 383.10,-0.69%), Bajaj Auto Ltd. (Rs. 3089.00,-0.68%), IndusInd Bank Ltd. (Rs. 1331.00,-0.66%), Tata Motors Ltd. (Rs. 61.60,-0.56%), among others.

Among the sectors, Power index was at 1974.42 up by 41.96 points or by 2.17%. Bharat Heavy Electricals Ltd. (Rs. 56.40,+26.60%), Reliance Infrastructure Ltd. (Rs. 21.85,+9.80%), GMR Infrastructure Ltd. (Rs. 18.65,+6.27%), Adani Power Ltd. (Rs. 65.00,+4.42%), Adani Transmission Ltd. (Rs. 243.15,+4.29%),.

On the flip side, Bankex index was at 32845.54 down by 66.18 points or by 0.2%. IndusInd Bank Ltd. (Rs. 1330.00,-0.73%), RBL Bank Ltd. (Rs. 288.60,-0.43%), ICICI Bank Ltd. (Rs. 438.95,-0.36%), Axis Bank Ltd. (Rs. 708.45,-0.30%), Federal Bank Ltd. (Rs. 84.25,-0.18%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2452 , shares advanced were 1512 while 780 shares declined and 160 were unchanged.