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Broad market depicts strength

Capital Market |  Jun 29, 2017 10:25 AM IST

After a positive opening, key indices extended gains in morning trade on strong global cues. At 10:15 IST, the barometer index, the S&P BSE Sensex was up 210.20 points or 0.68% at 31,044.52. The Nifty 50 index rose 68.50 points or 0.72% at 9,559.75.

The Sensex surged 235.03 points or 0.76% at the day's high of 31,069.35 in morning trade, its highest level since 27 June 2017. It rose 71.54 points or 0.23% at the day's low of 30,905.86 in early trade.

The Nifty surged 71.50 points or 0.75% at the day's high of 9,562.75 in morning trade, its highest level since 27 June 2017. It rose 31.20 points or 0.32% at the day's low of 9,522.45 in early trade.

The S&P BSE Mid-Cap index rose 0.84%. The S&P BSE Small-Cap index advanced 1.28%. Both these indices outperformed the Sensex.

The broad market depicted strength. There were more than 4 gainers for every loser on BSE. 1,559 shares rose and 323 shares declined. A total of 69 shares were unchanged.

Telecom stocks advanced. Reliance Communications (up 3.6%), Bharti Airtel (up 1.5%), Bharti Infratel (up 1.34%) and Idea Cellular (up 0.72%) edged higher.

Realty stocks gained. Sobha (up 1.78%), DLF (up 1.47%), Prestige Estates Projects (up 1.28%), Godrej Properties (up 1.19%), Indiabulls Real Estate (up 0.73%) and Unitech (up 0.51%) edged higher. HDIL was unchanged at Rs 87.80.

National Aluminum Company (Nalco) rose 0.23% after the Ministry of Mines said that the central government is working to expand capacity of the company to make it a major producer of aluminium globally. The Ministry of Mines made the announcement after market hours yesterday, 28 June 2017.

Nucleus Software Exports fell 2.58% at Rs 329.95 after the stock turned ex-dividend today, 29 June 2017, for final dividend of Rs 5 per share for the year ended 31 March 2017.

Overseas, Asian stocks edged higher, taking cues from a stronger finish in US markets. US equities registered strong gains yesterday, 28 June 2017 as bank stocks led the charge. The S&P 500 index notched its biggest one-day gain since late April.

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