Positive Asian stocks pushed the key benchmark indices higher for third day in a row. The barometer index, the S&P BSE Sensex, rose 190.11 points or 0.63% to settle at 30,133.35. The Nifty 50 index rose 45.25 points or 0.49% to settle at 9,351.85. The Sensex and the Nifty, both, hit record high in intraday day as well as closing basis. Sentiment was also boosted after the ruling party at the Centre, BJP's massive win in the Delhi civic elections.

The session was filled with volatility as key benchmark indices sharply pared gains after hitting fresh intraday high in mid-afternoon trade. The key benchmarks, however, bounced back in late trade to end near the day's high levels. The Sensex ended above the psychologically important 30,000 mark, after falling below that level in mid-afternoon trade. Broader market, however, witnessed selling pressure.

The Sensex rose 190.11 points or 0.63% to settle at 30,133.35, a record closing high for the index. The Sensex rose 222.53 points, or 0.74% at the day's high of 30,165.77 in mid-afternoon trade. The index rose 25.33 points, or 0.08% at the day's low of 29,968.57 in mid-afternoon trade.

The Nifty 50 index rose 45.25 points or 0.49% to settle at 9,351.85, a record closing high for the index. The Nifty rose 60.40 points, or 0.65% at the day's high of 9,367 in mid-afternoon trade. The index fell 5.25 points, or 0.06% at the day's low of 9,301.35 in early trade.

Among secondary barometers, the BSE Mid-Cap index declined 0.12%. The BSE Small-Cap index declined 0.63%. Both these indices underperformed the Sensex.

The broad market depicted weakness. There were more than two losers against every gainer on BSE. 1,954 shares fell and 952 shares rose. A total of 139 shares were unchanged. The market breadth was strong in morning trade.

The total turnover on BSE amounted to Rs 5019.21 crore, higher than turnover of Rs 4006.89 crore registered during the previous trading session.

Among sectoral indices, the BSE FMCG index (up 2.04%), the BSE Auto index (up 1.01%) and the BSE Finance index (up 0.74%) outperformed the Sensex. The BSE Realty index (down 2.95%), the BSE Power index (down 0.77%) and the BSE Oil & Gas index (down 1.02%) underperformed the Sensex.

India's largest cigarette maker by sales ITC advanced 3.36% to Rs 290.65. The stock hit a high of Rs 292.85 and a low of Rs 281.95 in intraday trade.

Most FMCG stocks rose. Jyothy Laboratories (up 3.38%), Tata Global Beverages (up 1.35%), Marico (up 3.73%), Britannia Industries (up 3.55%), Hindustan Unilever (up 1.78%), Nestle India (up 1.86%), Dabur India (up 0.2%), Colgate Palmolive (India) (up 0.02%), Procter & Gamble Hygiene & Health Care (up 0.78%) edged higher. Godrej Consumer Products (down 1.41%), Bajaj Corp (down 1.66%) and GlaxoSmithKline Consumer Healthcare (down 0.25%) edged lower.

Private sector banks rose. City Union Bank (up 4.45), Yes Bank (up 1.5%), ICICI Bank (up 1.61%), IndusInd Bank (up 0.91%), Federal Bank (up 0.43%), HDFC Bank (up 0.73%) and Kotak Mahindra Bank (up 0.24%) edged higher. RBL Bank dropped 3.14%.

Axis Bank rose 0.42% to Rs 517.30. The bank will announce its Q4 results today, 26 April 2017.

Public sector bank stocks saw mixed trend. Andhra Bank (up 3.98%), Punjab National Bank (up 3.17%), Allahabad Bank (up 1.06%), Central Bank of India (up 0.59%), IDBI Bank (up 0.61%), State Bank of India (up 0.14%), Corporation Bank (up 0.53%), Bank of India (up 2.77%), edged higher. Canara Bank (down 0.51%), Bank of Baroda (down 0.16%), Dena Bank (down 0.74%), Union Bank of India (down 0.98%), Syndicate Bank (down 0.54%) and United Bank of India (down 0.66%) edged lower.

Most IT shares declined. HCL Technologies (down 2.3%), Tech Mahindra (down 2.19%), Infosys (down 1.61%), MphasiS (down 0.19%), Hexaware Technologies (down 0.76%), Oracle Financial Services Software (down 0.36%) and TCS (down 0.04%) edged lower. MindTree (up 1.66%) and Persistent Systems (up 2.13%) edged higher.

IT major Wipro shed 0.8% to Rs 490.60 in volatile trade after hitting an intraday high of Rs 513 and intraday low of Rs 489. The company's consolidated net profit rose 7.2% to Rs 2267 crore on 4.86% rise in total income to Rs 15033.80 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours yesterday, 25 April 2017.

In its outlook, Wipro expects revenues from its IT services business to be in the range of $1915 million to $1955 million for the Q1 June 2017. Wipro's board recommended 1:1 bonus issue of shares.

Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board said that the company is confident that the recovery in energy and utilities and demonstrated strength in digital will help improve growth trajectory during the course of the current financial year.

NIIT Technologies surged 4.89% after the company announced collaboration of Siam City Cement with the company to build its future ready IT infrastructure. The announcement was made during market hours today, 26 April 2017.

Siam City Cement Public Company (SCCC), one of the leading cement manufacturers in Thailand has partnered with NIIT Technologies for building its future ready IT infrastructure. Supporting the digital transformation for SCCC, NIIT Technologies has designed, delivered and operating its private and public cloud infrastructure.

Future ready IT infrastructure developed by INSEE Digital is acting as the backbone infrastructure for the digital initiative at SCCC. It is now poised to leverage internet of things in fleet and fuel management and is in discussion with NIIT Tech on the feasibility to deploy robotic IT operations.

Auto major Mahindra & Mahindra rose 3.29% to Rs 1,350.55, extending gains triggered by the news of brokerage upgrade. A foreign brokerage has upgraded the stock to outperform from neutral with increased target price. The stock had risen 3.4% to settle at Rs 1,307.50 yesterday, 25 April 2017.

As per reports, the brokerage has upgraded the M&M stock to outperform from neutral with increased target price at Rs 1,500 from Rs 1,390 earlier. The brokerage house cited potential for M&M's tractor business that will surprise positively going ahead. Reports suggested that the brokerage believes with number of state governments planning to introduce farm loan waivers, tractor demand could get further boost. The brokerage added that weakness in utility vehicle market already factored in by M&M.

Realty stocks dropped. DLF (down 3.5%), Housing Development and Infrastructure (down 4.11%), D B Realty (down 4.22%), Unitech (down 2.91%), Sobha (down 2.02%), Godrej Properties (down 2.78%), Prestige Estates Projects (down 5.27%), Parsvnath Developers (down 1.89%), Oberoi Realty (down 1.36%) and Indiabulls Real Estate (down 2.47%) edged lower.

LIC Housing Finance slipped 0.16%. The company's net profit rose 18.12% to Rs 529.18 crore on 11.85% rise in total revenue to Rs 3661.86 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 25 April 2017.

V-Mart Retail gained 1.77% after the company said that it has opened a new store in Uttar Pradesh. The new store opened is a fashion store. With this, the tally of stores in Uttar Pradesh is 17 composite & 44 fashion stores. This takes the total number of stores to 143 stores in 122 cities across 14 states, with 37 composite stores & 106 fashion stores with a total area of about 12.1 lakhs square feel, company said. The announcement was made during market hours today, 26 April 2017.

Zee Learn rose 1.17% after net profit surged 88.8% to Rs 14.65 crore on 19.7% growth in net sales to Rs 60.13 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 25 April 2017.

KSB Pumps lost 0.78% to Rs 716.05 after net profit fell 20.83% to Rs 13.34 crore on 1.51% decline in total income to Rs 227.11 crore in Q1 March 2017 over Q1 March 2016.

Key indices gained for the third day in a row today, 26 April 2017. The Sensex has gained 768.05 points or 2.62% in three trading days from its close of 29,365.30 on 21 April 2017. The Sensex has gained 512.85 points or 1.73% in this month so far (till 26 April 2017). The barometer index has gained 3,506.89 points, or 13.17% in the calendar year 2017 (till 26 April 2017). From a 52-week low of 25,057.93 hit on 6 May 2016, the barometer index has risen 5,075.42 points or 20.25%.

Overseas, most European stocks were trading lower as markets eyed a fresh batch of corporate earnings, although the first round of the French presidential election on Sunday still lent some support. Asian indices ended higher following the rise in US stocks on the back of strong earnings announcements and on expectations for US President Donald Trump's impending tax reforms. In the US, stocks soared as McDonald's and Caterpillar reported strong earnings, with the Nasdaq surpassing the 6,000 mark for the first time. The Dow Jones industrial average surged 1.12% to close at 20,996.12.

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