Markets at mid-day trade: Nifty, Sensex trade higher amid broad-based buying

After a subdued opening on Tuesday (June 11), Indian equities in the mid afternoon session were trading with moderate gains amid broad-based buying. Nifty was last seen trading higher by 0.36 per cent or 83 points at 23,343.75, while Sensex was up 0.28 per cent or 219.75 points at 76,708.07. Meanwhile, the broader markets continued to outperform their headline peers, with Nifty Midcap 100 and Nifty Smallcap 100 up by 1 per cent and 0.85 per cent, respectively.

In the bluechip Nifty50 index, 37 stocks advanced, while the remaining 13 registered a fall.  ONGC, Adani Ports, L&T, Hero MotoCorp and Britannia were the top gainers from the basket, while top laggards included stocks like Dr. Reddy’s Laboratories, Asian Paints, ITC, Kotak Mahindra Bank and Reliance Industries.

As per reports debt-ridden Vodafone Idea received in-principle approval for a Rs 14,000 crore financing from SBI-led consortium.

Agriculture-focussed, sugar and FMCG stocks traded mixed after former Madhya Pradesh Chief Minister Shivraj Singh Chauhan has been entrusted with the responsibility of  Agriculture and Rural Development Ministry. 

Likewise, railway stocks like RVNL, IRCON International and RailTel among others gained up to 9 per cent as there is signalled policy continuity after Ashwini Vaishnaw retains the Railway Ministry.

Meanwhile, European markets traded higher with German DAX up 0.11 per cent, while French CAC index was up 0.35 per cent. Markets now largely await the US Fed’s policy outcome due on Wednesday.