Sensex, Nifty continue to trade steady; midcaps outperform
Equity benchmarks rebounded in opening on Friday after second quarter GDP data, with the Sensex rising more than 100 points. The buying was seen in most beaten down stocks. In previous session, the Sensex had fallen 453 points.
The 30-share BSE Sensex was up 115.44 points at 33,264.79 and the 50-share NSE Nifty rose 38.40 points to 10,264.90.
About five shares advanced for every share falling on the BSE.
The Indian economy grew 6.3 percent in July-September quarter, recovering from a three-year low growth slump of 5.7 percent in April-June, as companies scaled up production and restocked supplies after Goods & Services Tax (GST) kicked in from July 1.
Share price of Laurus Labs added 5 percent in early trade on the back of approval from USFDA.
The company has received its maiden tentative approval from United States Food and Drug Administration (U.S FDA) for Tenofovir Disoproxil Fumarate tablets 300mg.
The market continued to trade steady, with the Nifty hovering around 10,250-mark.
The Sensex was up 75.58 points at 33224.93, while the Nifty was up 23.30 points at 10249.80.The market breadth was positive as 1551 shares advanced against a decline of 467 shares, while 86 shares were unchanged.
Tata Motors, Tata Motors DVR, and Bosch gained the most on both indices, while Bharti Airtel, Coal India, and Hindalco lost the most.
India's largest car maker Maruti Suzuki's November sales matched analyst expectations as it sold 1.54 lakh units during the month, higher by 14.1 percent YoY.
The company sold 1.35 lakh units in November 2016 and a CNBC-TV18 poll estimated sales at 1.52 lakh units.
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