Update:
Shares of Home First Finance Company India on Wednesday listed with a premium of more than 19 per cent against its issue price of Rs 518 apiece.
The stock got listed at Rs 612.15, a gain of 18.17 per cent from the issue price on the BSE. Later, it jumped 23.45 per cent to Rs 639.50.
On the NSE, it got listed at Rs 618.80, reflecting a jump of 19.45 per cent.
Afternoon update:
The shares hit record highs and extended their post-budget rally, after a survey showed the country's dominant services sector picked up in January as demand improved.
The NSE Nifty 50 index rose 1.07 per cent to 14,804.05, while the benchmark S&P BSE Sensex was up 1.01 per cent at 50,298.31. Both Nifty and Sensex touched all-time highs after rising 1.2 and 1.1 per cent, respectively.
The Nikkei/IHS Markit Services Purchasing Managers' Index rose to 52.8 in January from 52.3 in December, although firms continued to shed jobs.
The Nifty Pharma index was up 3.2 per cent, led by gains in Dr.Reddy's after a report said Russia's Sputnik V Covid-19 vaccine would be granted emergency use authorization in India soon. The drugmaker has a partnership with the Russian Direct Investment Fund to distribute the vaccine in India.
Morning update:
The stock market retreated from fleeting record highs hit in pre-open trade, dragged down by Reliance Industries after a court blocked the conglomerate's $3.4 billion retail asset purchase from Future Group.
The NSE Nifty 50 index fell 0.21 per cent to 14,612.45, while the benchmark S&P BSE Sensex was down 0.27 per cent at 49,661.62. The indexes had risen as much as 0.7 and 0.87 per cent, respectively, to all-time highs in pre-open trade.
Shares of Future Retail dropped 5 per cent after an Indian court blocked Future Group's retail asset sale to Reliance Industries on objections raised by e-commerce giant Amazon.com Inc.
Shares of Reliance Industries fell 0.98 per cent and was the biggest drag on the index.
Dr. Reddy's Laboratories rose 5.3 per cent after a report said India is expected to grant emergency use authorisation for Russia's Sputnik V Covid-19 vaccine soon.
Dr. Reddy's has a partnership with the Russian Direct Investment Fund that covers clinical trials of the vaccine and distribution rights for India.