Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:27 IST, the barometer index, the S&P BSE Sensex, was up 41.91 points or 0.09% at 46,708.37. The Nifty 50 index was up 9.10 points or 0.07% at 13,691.80. The Sensex scaled record high above 46,750 mark in early trade. The Nifty also hit record high above 13,700 mark.
The S&P BSE Mid-Cap index was up 0.26%. The S&P BSE Small-Cap index was up 0.41%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1340 shares rose and 750 shares fell. A total of 106 shares were unchanged.
Stocks in news:
Wipro has completed the acquisition of 83.4% equity stake in Encore Theme. The remaining 16.6% equity stake will be acquired subject to and after receipt of certain regulatory approvals/confirmations. Encore Theme is a specialist in providing SaaS and Cloud solutions in financial services.
Hero MotoCorp said in order to partially offset the impact of the commodity costs, the company will be increasing the prices of products by upto Rs 1500, with effect from 1 January 2021. The increase will vary across models, and the exact quantum will be communicated to our dealers in due course.
Jubilant FoodWorks India has entered into the most loved food space of Biryanis with its newest brand - Ekdum!. Ekdum! will offer the widest variety of biryanis from across India to choose from.
Trade setup for Thursday: Top 15 things to know before Opening Bell
The short term trend of Nifty is positive and one may expect further upmoves in the coming sessions, says Nagaraj Shetti of HDFC Securities. Sunil Shankar Matkar December 17, 2020 / 08:50 AM IST
The market after its four-day consolidation gained strength to climb new life high on December 16, following positive global cues amid US stimulus hopes.
The BSE Sensex jumped 403.29 points to 46,666.46, backed by almost all sectors barring banks, while the Nifty50 rallied 114.80 points to 13,682.70 and formed a small-bodied bullish candle on the daily charts. A small positive candle was formed with long lower shadow. Nifty closed above the last four sessions upper range of 11,590 levels. Technically, this pattern indicates an upside breakout of the small range at 13,600, Nagaraj Shetti, Technical Research Analyst at HDFC Securities, told Moneycontrol.