Nifty hovers around 10,750 mark; Financial stocks lead

Benchmark indices extended their gains from earlier in the session and were up nearly 1% each, led by a surge in shares of financial companies.

At 2:05 PM, the BSE Sensex was trading at 34,875 up 282 points, while the broader Nifty50 index was ruling at 10,750, up 69 points.

Sintex Industries stock fell 5% after the company reported 50% decline in its net profit to Rs21 cr from Rs42.30cr a year ago.

Housing Development & Infrastructure Ltd rose 7% after the company approved the allotment of Rs200cr warrants to promoter at Rs70.5 per warrant.

On the economy front, wholesale prices eased to 3.58% in December 2017 as prices of food articles declined even as fuel cost witnessed a surge. The inflation was 3.93% in November 2017 and 2.10% in December 2016.

Most capital goods stocks gained. Havells India (+0.66%), ABB India (+2.07%), Bharat Electronics (+0.37%), L&T (+0.74%), and Thermax (+1.6%) gained. Bharat Heavy Electricals (-0.1%) and Siemens (-0.48%) declined.

The BSE Mid-cap and BSE Small-cap indices were up 0.05% and 0.35%, respectively.

Volatility index India VIX gained 4.15%.

HDFC (+4.4%), ICICI Bank (+3.5%), Tata Steel (+2.3%), Zee (+2.2%) and HPCL (+1.5%) were the top gainers on Nifty50.

Eicher (-2.5%), ONGC (-1.9%), GAIL (-1.7%), Hero MotoCorp (-1.6%) and HCL Tech (-1.5%) were the top losers in today’s trade.

Out of 1,976 stocks traded on the NSE, 916 advanced, 789 declined and 271 remained unchanged today.

A total of 146 stocks registered a fresh 52-week high in trade today, while six stocks touched a new 52-week low on the NSE.

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