The domestic equity benchmarks were trading with minor gains in early trade. The Nifty traded above the 17,900 level. IT, consumer durables and realty stocks advanced while metal, oil & gas and healthcare shares declined.
At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 65.59 points or 0.11% to 60,171.09. The Nifty 50 index rose 21.20 points or 0.12% to 17,916.90.
In the broader market, the S&P BSE Mid-Cap index added 0.07% while the S&P BSE Small-Cap index gained 0.30%.
The market breadth was strong. On the BSE, 1,653 shares rose and 978 shares fell. A total of 127 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,208.15 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,430.62 crore in the Indian equity market on 11 January, provisional data showed.
Investors look ahead to the U.S. consumer price index report due later in the day. The December CPI report will inform investors as to whether the Federal Reserve needs to move forward with more aggressive interest rate hikes to tame inflation, or if the central bank can pull back as inflation is showing signs of steadily cooling off.
On the macro front, the Industrial Production and Manufacturing Production data for November will be released today. Inflation rate for December will also be declared today.
Stocks in Spotlight:
Hindustan Unilever (HUL) shed 0.07%. The FMCG major has completed the acquisition of 51% shareholding of Zywie for a total consideration of Rs 264.28 crore for the first tranche. Consequently, Zywie Ventures Private Limited has become a subsidiary of the company.
Route Mobile rallied 3.74% after the company said that it has signed an exclusive SMS firewall solution and connectivity service agreement with a leading Mobile Network Operator (MNO) in Sri Lanka to provide an end-to-end A2P monetization suite for all international A2P SMS' terminating on its network.
Central Bank of India declined 1.14%. The bank has entered into a strategic Co-Lending Partnership with Mamta Projects Private Limited (MPPL) to offer MSME loans to Borrowers at competitive rates. MPPL is a new-age, tech and risk-analytics focused lending institution.
RailTel Corporation of India gained 2.62% after the public sector enterprise received the work order from Department of Revenue and Disaster Management, Government of Puducherry, valued at Rs 170.11 crore.
Global Markets:
Asian stocks were trading mixed as investors look ahead to the U.S. consumer price index report Thursday.
Inflation in China accelerated 1.8% in December compared with a year ago as food prices rose, data from the National Bureau of Statistics showed. The CPI figure was in line with expectations and higher than the previous month's reading of 1.6%.
US stocks ended up sharply on Wednesday as investors were optimistic ahead of an inflation report that could give the Federal Reserve room to dial back on its aggressive interest rate hikes.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app