Indian benchmarks continued its jubilant trade during the late morning trade after global rating company, Moody's Investors Service upgraded India’s sovereign rating to Baa2 from Baa3 and changed the outlook to stable from positive.
At 11:25 hours, the 30-share benchmark index was trading at 33482.58 up by 375.76 points or by 1.13 per cent, while the NSE Nifty was at 10328.3 up by 113.55 points or by 1.11 per cent.
Sentiments remained buoyant after rating agency said that the reforms will improve the business climate in the country and raise productivity.
In the bullish trade so-far, Sensex touched intraday high of 33520.82 and intraday low of 33387.37 The NSE Nifty touched intraday high of 10343.6 and intraday low of 10313.55.
The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1716.50,+3.16%), Cipla Ltd. (Rs. 611.70,+3.15%), ICICI Bank Ltd. (Rs. 329.05,+3.10%), Tata Steel Ltd. (Rs. 706.00,+2.82%), Bharti Airtel Ltd. (Rs. 502.50,+2.57%), among others.
The top losers of the BSE Sensex pack were Infosys Ltd. (Rs. 971.80,-1.70%), Tata Consultancy Services Ltd. (Rs. 2727.05,-0.71%), Dr. Reddy's Laboratories Ltd. (Rs. 2325.55,-0.42%), Power Grid Corporation of India Ltd. (Rs. 208.00,-0.22%), Wipro Ltd. (Rs. 297.25,-0.13%), among others.
Among the sectors, Metal index was at 14352.02 up by 354.95 points or by 2.54%. Steel Authority of India (SAIL) Ltd. (Rs. 80.60,+4.27%), Vedanta Ltd. (Rs. 311.60,+3.45%), Hindustan Zinc Ltd. (Rs. 311.10,+3.08%), National Aluminium Company Ltd. (Rs. 83.65,+3.02%), Tata Steel Ltd. (Rs. 706.00,+2.82%),.
On the flip side, IT index was at 10778.89 down by -103.75 points or by -0.95%. Infosys Ltd. (Rs. 971.80,-1.70%), Mahindra & Mahindra Ltd. (Rs. 490.50,-1.61%), Hexaware Technologies Ltd. (Rs. 330.60,-1.52%), L&T Technology Services Ltd. (Rs. 929.00,-1.50%), Quick Heal Technologies Ltd. (Rs. 220.05,-1.48%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2591 , shares advanced were 1779 while 663 shares declined and 149 were unchanged.