Indian benchmarks continued to trade higher during the noon trading session led by gains in financial and realty stocks. International Monetary Fund (IMF) boosted investor confidence saying, India is on track to hold its position as one of the world’s fastest-growing economies as reforms start to pay off.
The $2.6 trillion economy was described as an elephant starting to run, with growth forecast at 7.3 per cent in the fiscal year through March 2019 and 7.5 per cent in the year after that. The nation accounts for about 15 per cent of global growth, according to the Washington-based fund.
At 13:10 hours, the 30-share benchmark index was trading at 38032.23 up by 144.67 points or by 0.38 per cent, while the NSE Nifty was at 11467.8 up by 17.8 points or by 0.16 per cent.
Sensex touched intraday high of 38076.23 and intraday low of 37939.28 The NSE Nifty touched intraday high of 11495.2 and intraday low of 11454.1.
The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 334.55,+5.14%), Axis Bank Ltd. (Rs. 612.40,+2.68%), State Bank of India (Rs. 316.75,+2.62%), Coal India Ltd. (Rs. 281.80,+2.01%), Tata Motors Ltd. (Rs. 258.85,+1.51%), among others.
The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 369.50,-3.93%), Oil And Natural Gas Corporation Ltd. (Rs. 168.95,-1.72%), HDFC Bank Ltd. (Rs. 2112.25,-1.15%), IndusInd Bank Ltd. (Rs. 1982.95,-0.96%), YES Bank Ltd. (Rs. 379.65,-0.80%), among others.
Among the sectors, Realty index was at 2095.06 up by 36.22 points or by 1.76%. Housing Development & Infrastructure Ltd. (Rs. 23.90,+5.29%), Sunteck Realty Ltd. (Rs. 455.00,+4.84%), Sobha Ltd. (Rs. 517.05,+4.34%), DLF Ltd. (Rs. 195.85,+3.62%), Indiabulls Real Estate Ltd. (Rs. 145.30,+2.76%),.
On the flip side, CDS index was at 21788.16 down by -180.04 points or by -0.82%. Titan Company Ltd. (Rs. 914.50,-2.21%), Rajesh Exports Ltd. (Rs. 656.00,-1.13%), Symphony Ltd. (Rs. 1083.55,-0.83%), Crompton Greaves Consumer Electricals Ltd. (Rs. 262.05,-0.25%), Voltas Ltd. (Rs. 592.40,-0.17%),..
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2762 , shares advanced were 1358 while 1254 shares declined and 150 were unchanged.