The domestic benchmark bounced back in morning trade amid bouts of volatility. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 142.38 points or 0.40% at 35,986.08. The Nifty 50 index added 50.70 points or 0.48% at 10,602.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.62% while the S&P BSE Small-Cap index gained 0.51%.

The market breadth was positive. On the BSE, 1203 shares rose and 932 shares fell. A total of 141 shares were unchanged.

Buzzing Index:

The Nifty Metal index slipped 0.81% to 2,000.60. The index rose 1.38% in past three sessions.

Among the index constituents, MOIL (down 2.9%), Hindalco Industries (down 1.73%), Welspun Corp (down 1.17%), Vedanta (down 1.13%), Tata Steel (down 1.02%), JSW Steel (down 0.85%), Ratnamani Metals Tubes (down 0.82%) and Hindustan Zinc (down 0.31%) declined.

Hindustan Copper (up 2.29%), APL Apollo Tubes (up 0.99%), SAIL (up 0.96%), National Aluminum Co. (up 0.31%), Jindal Steel & Power (up 0.26%) and NMDC (up 0.06%) advanced.

Earnings Impact:

JB Chemicals & Pharmaceuticals shed 0.10% to Rs 714.70. KKR will acquire 54% stake in the company (with option to buy a maximum 64.9%) from the founding Mody family at a purchase price of Rs 745 per share.

Post transaction, an open offer will be launched to acquire 26% stake in JB Chemicals. Through the proposed open offer, KKR aims to acquire 20.93 million equity shares of of the company, representing 26% stake, at a price of Rs 745 per share.

Axis Bank added 0.40% to Rs 425.25. The bank announced yesterday that it has decided to wind down its UK-based subsidiary, Axis Bank UK. This move will not have any material impact on its financial position, it said.

VST Tillers Tractors gained 0.81% to Rs 1395.10. The company's tractors sales rose 10.58% to 805 units while the total power tillers units sold fell 19.55% to 2,675 units in June 2020 over June 2019.

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