The domestic equity benchmarks continued to trade with decent gains in morning trade. The Nifty was trading above the 15,650 mark. Realty and media stocks were in demand.
At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 299.89 points or 0.58% to 52,149.37. The Nifty 50 index added 78.60 points or 0.50% to 15,654.80.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, tumbled 9.39% to 15.59.
In broader market, the S&P BSE Mid-Cap index gained 0.90% while the S&P BSE Small-Cap index rose 1.07%.
The market breadth was strong. On the BSE, 2068 shares rose and 734 shares fell. A total of 116 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 171,540,521 with 3,688,659 global deaths.
India reported 1,713,413 active cases of COVID-19 infection and 337,989 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Economy:
India's merchandise exports in the last month recorded a steep rise of over 67% compared to the corresponding period last year. The Union Commerce & Industry Ministry has informed that in the month of May this year the total merchandise export from the country stood at over $32 billion.
It informed that the figure is nearly 8% higher even when compared to the pre COVID statistics for the month of May in 2019. Collectively the merchandise export for the month of April and May this year is more than 12.5% as compared to the corresponding period in the year 2019.
The Commerce Ministry also informed that the merchandise imports in the first two months of the current financial year has been recorded to be 5.41% less than that of the corresponding period in 2019. However, due to the value of the imports pegged at around $38 billion, the country has registered a trade deficit of over $6 billion in the previous month.
Buzzing Index:
The Nifty Realty index rose 3.74% to 351.95, outperforming other sectoral indices on the NSE. The index has added 5.3% in two sessions.
The Phoenix Mills (up 7.01%), Indiabulls Real Estate (up 6.82%), Prestige Estates (up 4.69%), Sunteck Realty (up 4.59%), Sobha Developers (up 3.91%), DLF (up 3.54%), Godrej Properties (up 2.47%), Brigade Enterprises (up 2.42%), Oberoi Realty (up 2.32%) and Hemisphere Properties India (up 1.35%) advanced.
Results Today:
APL Apollo (up 2.98%), Arvind Fashion (up 1.72%), GSPL (up 0.88%), Nucleus Software (up 0.99%), Quess Corp (up 4.58%) and Nilkamal (up 4.05%) will announce their quarterly earnings today.
Stocks in Spotlight:
Rossari Biotech added 2.18% to Rs 1291.40 after the company announced that its board of directors has approved the acquisition of Unitop Chemicals for a consideration of Rs 421 crore. The combination of Unitop Chemicals with Rossari will augment the quality and acceleration of the company's growth going forward.
Tata Power rose 0.69% to Rs 108.80. Tata Power Solar, the company's subsidiary, has received Letter of Award (LoA) to build 210 MWp of Solar PV projects for NTPC. The total order value of the projects is approximately Rs 686 crore. The commissioning date for NTPC is set for November 2022.
Panacea Biotec fell 2.72% to Rs 404 after the company reported a consolidated net loss of Rs 54.14 crore in Q4 FY21 as against a net loss of Rs 69.70 crore in Q4 FY20. Net sales during the quarter increased by 34.2% year-on-year (YoY) to Rs 168.27 crore. On the segmental front, revenue from vaccines segment was at Rs 58.81 crore (up 86.7% YoY) while that from formulations segment was at Rs 109.46 crore (up 16.6% YoY) in the fourth quarter.
The company's board has approved raising of funds through one or more permissible mechanisms as may be deemed appropriate by the board, for an amount up to and not exceeding Rs 1,200 crore or it is equivalent in any other currency(ies), in one or more tranches.
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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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