Live: Sensex, Nifty Flat; JK Cement At Record High

• Trading at a record high
• Gains as much as 4.3% to Rs 1,725
• Biggest single-day gain in a month
• Up for the eighth straight day
• Longest winning streak in over eight months
• Today's volumes are nearly quadruple its 20-day average
• Stock in overbought territory with Relative Strength Index (RSI) at 76
• Has nearly doubled from its 52-week low of Rs 795.2 on March 23, 2020
• 23 out of the 27 analysts tracking the stock have a buy recommendation
• The stock crossed its 12-month consensus price target of Rs 1,680.1 in today's session

Average yields on Indian state development loans fell to 6.57% on Monday. The 8.7 basis points decline was the most in nearly five months, according to the Clearing Corporation of India index data.

RBI Governor Shaktikanta Das on Friday had said that the central bank will be buying state debt. It will buy bonds issued by the state governments as a special case.

The yields on such debt had also declined 7.7 basis points on Friday, according to Bloomberg data.

State development loans are quasi-sovereign securities and are generally considered low risk investments as compared to corporate bonds.

• Benchmark indices continue to trade in a narrow range
• Nifty up 0.3% at 11,963
• Sensex up 0.25% at 40,695
• Nifty Bank unchanged at 23,728
• Nifty Midcap index up 0.2%
• Nifty Smallcap index up 0.1%
• India Volatility Index flat at 21.1
• Nifty Media index remains the top sectoral laggard; down 1.3%
• Nifty Realty and Nifty FMCG are up 0.7% each
• Nifty I.T. and Nifty Pharma are up 0.5% each
• UltraTech extends gains as the top Nifty gainer; up 4.4%
• ICICI Bank is off the day's low but remains the top Nifty laggard; down 1.3%
• 891 stocks on the NSE are trading with gains while 882 are declining

The I.T. major has informed the exchanges that the Bahrain Development Bank has selected the company's BaNCS Global Banking Platform to speed up innovation.

The platform will help the bank meet the unique needs of the small and medium business segment spanning digital banking channels, origination, core banking, trade finance, treasury and other supporting services, the company said in an exchange filing.

"Designed on the Digital First, Cloud First philosophy, TCS BaNCS will help BDB enhance agility, drive superior customer experiences and transform itself to meet the needs of an ever evolving banking environment,” said Venkateshwaran Srinivasan, Head, TCS Financial Solutions.

Shares currently trade 0.5% lower at Rs 2,815.