Key benchmark indices were hovering in positive terrain in mid-morning trade. At 11:26 IST, the barometer index, the S&P BSE Sensex, was up 142.37 points or 0.42% at 34,112.01. The Nifty 50 index was up 38 points or 0.36% at 10,542.80. The Sensex was trading above the psychological 34,000 mark after opening above that level. Positive global cues boosted sentiment. IT and pharmaceutical shares were in demand.
The Sensex and the Nifty, both, hit record high levels in morning trade. The Sensex rose 205.57 points, or 0.61% at the day's high of 34,175.21 in morning trade, its record high level. The index rose 51.20 points, or 0.15% at the day's low of 34,020.84 in early trade. The Nifty rose 58 points, or 0.55% at the day's high of 10,562.80 in morning trade, its record high level. The index rose 17.50 points, or 0.17% at the day's low of 10,522.30 in early trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.67%. The BSE Small-Cap index was up 1.01%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1784 shares rose and 853 shares fell. A total of 115 shares were unchanged.
IT shares were in demand. Hexaware Technologies (up 1.31%), TCS (up 1.23%), Oracle Financial Services Software (up 1.06%), Persistent Systems (up 0.90%), Infosys (up 0.30%), Tech Mahindra (up 0.13%), MindTree (up 0.12%) and Wipro (up 0.02%), edged higher. MphasiS was down 0.28%.
HCL Technologies was up 0.12%. The company announced about the termination of joint venture agreement between the company and Great American Insurance Company (GAIC). The announcement was made after market hours yesterday, 4 January 2018.
Pharmaceutical shares were in demand. Cadila Healthcare (up 1.64%), IPCA Laboratories (up 1.58%), Divi's Laboratories (up 1.29%), Wockhardt (up 0.90%), Piramal Enterprises (up 0.69%), GlaxoSmithKline Pharmaceuticals (up 0.63%), Strides Shasun (up 0.61%), Sun Pharmaceutical Industries (up 0.40%), Aurobindo Pharma (up 0.34%), Lupin (up 0.30%), Glenmark Pharmaceuticals (up 0.22%), Alkem Laboratories (up 0.09%) and Dr Reddy's Laboratories (up 0.02%), edged higher. Cipla was down 0.08%.
Bliss GVS Pharma was up 0.95%. The company announced that board of directors will meet on 11 January 2018, for considering disinvestment of subsidiary business. The announcement was made after market hours yesterday, 4 January 2018.
Engineering and construction major L&T was up 0.49% at Rs 1,321.80. The company announced during trading hours today, 5 January 2017, that its wholly-owned subsidiary, L&T Hydrocarbon Engineering, signed an offshore contract for 'Bassein Development 3 Well Platform & Pipeline Project' with ONGC valued at approximately Rs 1483 crore.
Overseas, most Asian shares rose as US jobs data pointed to firm economic growth. US stock indices closed at all-time highs on Thursday, while the Dow topped the 25,000 milestone for the first time. The Dow Jones Industrial Average rose 0.6% to finish at 25,075.13. The S&P 500 rose 0.4%. The Nasdaq Composite Index gained 0.2%.
The US ADP National Employment Report on Thursday showed US private employers added 250,000 jobs in December, the biggest monthly increase since March. Meanwhile, initial jobless claims, a tool to measure layoffs, rose 3,000 to 250,000 in the seven days ended 30 December 2017, the Labor Department said Thursday. The number of people already collecting unemployment benefits, known as continuing claims, fell 37,000 to 1.91 million.
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