NEW DELHI: Firmness continued on the bourses in mid-afternoon trade. The 50-unit CNX Nifty hit its highest level in almost a week. The barometer index, the S&P BSE Sensex, fell below the psychological 28,000 mark soon after surpassing that level in mid-afternoon trade. The Sensex was currently up 292.98 points or 1.06% at 27,954.38. The BSE Mid-Cap index was up 1.28%. The BSE Small-Cap index was up 1.1%. Both these indices outperformed the Sensex. The market breadth indicating the overall health of the market was strong.
Indian stocks surged today, 13 July 2015, after eurozone leaders today, 13 July 2015, agreed on a third bailout deal for debt laden Greece in exchange for strict reform measures. The agreement eases the risk that Greece will be forced to leave the euro in a “Grexit”. European stocks surged after eurozone leaders clinched a bailout deal for Greece. Meanwhile, in the global commodities market, Brent crude oil prices edged lower as Iran and six world powers were close to nailing down a nuclear deal.
Shares of index heavyweights HDFC, ITC and Reliance Industries edged higher. IndusInd Bank rose after announcing good Q1 results. IT stocks edged higher on renewed buying.
On macro front, industrial production rose 2.7% in May 2015, compared with a downwardly revised 3.36% growth in April 2015, according to the data released by the government after trading hours on Friday, 10 July 2015.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 465.27 crore during the previous trading session on Friday, 10 July 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 590.49 crore on Friday, 10 July 2015, as per provisional data released by the stock exchanges.
In overseas markets, Asian and European stocks edged higher after eurozone leaders today, 13 July 2015, reached an agreement over a third bailout for Greece. US stocks rallied during the previous trading session on Friday, 10 July 2015, on renewed hopes that debt-laden Greece will reach a deal with its creditors and stave off an exit from the eurozone.
At 14:16 IST, the S&P BSE Sensex was up 292.98 points or 1.06% at 27,954.38. The index jumped 340.43 points at the day’s high of 28,001.83 in mid-afternoon trade, its highest level since 8 July 2015. The index fell 26.34 points at the day’s low of 27,635.06 in early afternoon trade.
The CNX Nifty was up 101.45 points or 1.21% at 8,462. The index hit a high of 8,467.05 in intraday trade, its highest level since 7 July 2015. The index hit a low of 8,355.40 in intraday trade.
The market breadth indicating the overall health of the market was strong. On BSE, 1,723 shares gained and 943 shares fell. A total of 119 shares were unchanged.
