Key indices pared losses and traded near the flat line in mid-morning trade. At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 8.46 points or 0.02% to 47,621.54. The Nifty 50 index added 9.25 points or 0.07% to 13,941.85.
In the broader market, the S&P BSE Mid-Cap index rose 0.09% while the S&P BSE Small-Cap index gained 0.19%.
The market breadth was almost even. On the BSE, 1385 shares rose and 1254 shares fell. A total of 144 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,349.53 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,010.50 crore in the Indian equity market on 29 December, provisional data showed.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 81,975,991 with 1,789,007 deaths. India reported 262,272 active cases of COVID-19 infection and 148,439 deaths while 9,834,141 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Economy:
The government has invited the protesting farmer' unions for talks today to end the impasse over the three farm laws. This will be the sixth round of talk between the government and farmers to end the deadlock. The centre has written to the 40 protesting farmers' unions and invited them for talks. Apart from the farm laws, discussions will be held on MSP and on legislations related to air quality and the electricity.
Stocks in Spotlight:
JMC Projects (India) rose 2.03% to Rs 67.80. The company announced that it had secured building projects in South India worth approximately Rs 698 crore.
Jindal Steel & Power (JSPL) gained 1.70% to Rs 263.75. The steel maker was awarded 'Regular Supplier' status by Indian Railways for 60kg 880 grade (90UTS) Rails. JSPL has become India's first private company to get 'Regular Supplier' status from Indian Railways to supply 60kg 880 grade (90UTS) Rails.
UPL rose 3.42% to Rs 470.30. The company said that it had completed the pre-payment of US$410 million of 3.25% Senior Notes due October 2021. This prepayment is in line with its commitment to reduce debt.
Global Markets:
Most Asian shares were trading higher on Wednesday. Today is the final trading day in 2020 for stocks in Japan and South Korea as their markets will be closed on Thursday.
China's 2019 GDP growth was revised downward to 6.0%, according to a statement released Wednesday by the country's National Bureau of Statistics. That compared against a pre-revision 2019 growth rate of 6.1%.
U.S. stocks declined moderately from record high on Tuesday, 29 December 2020, with all three indexes the S&P 500 index, the Dow Jones Industrial Average, and the technology-heavy Nasdaq Composite closing lower, as investors elected to cash in on the recent strength in the markets.
At the close of trade, the Dow Jones Industrial Average index declined 68.30 points, or 0.22%, to 30,335.67. The S&P 500 index was down 8.32 points, or 0.22%, to 3,727.04. The tech-heavy Nasdaq Composite Index dropped 49.20 points, or 0.38%, to 12,850.22.
President Donald Trump signed legislation late Sunday providing $900 billion in aid to individuals and businesses and $1.4 trillion to fund government agencies. Trump has called for the direct payments included in the bill to be increased to $2,000 from $600, and the House voted Monday to approve a measure increasing the size of the stimulus checks. However, Senate Majority Leader Mitch McConnell, R-Ken., blocked an effort by Senate Minority Leader Chuck Schumer, D-N.Y., to unanimously approve the House bill.
In U.S. economic data, the S&P Case-Shiller home price index for October showed a year-over-year rise of 7.9%, the fastest pace in six years.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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