The key equity indices hit the day's high in morning trade. The Nifty was trading above the 15,800 mark. Metal stocks resumed their uptrend after a day's pause.
At 10:22 IST, the barometer index, the S&P BSE Sensex, was up 194.89 points or 0.37% to 52,744.55. The Nifty 50 index added 56.55 points or 0.36% to 15,805.00.
In the broader market, the S&P BSE Mid-Cap index gained 0.13% while the S&P BSE Small-Cap index rose 0.69%.
The market breadth was strong. On the BSE, 1872 shares rose and 1001 shares fell. A total of 115 shares were unchanged.
Rising number of delta variant COVID-19 cases in Asia and a border escalation situation on the India-Chinese border weighed on investor sentiment.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 181,764,498 with 3,937,050 global deaths.
India reported 537,064 active cases of COVID-19 infection and 398,454 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Addressing media in New Delhi last evening, Joint Secretary in the Health Ministry Lav Agarwal the overall Covid recovery rate has reached the mark of 96.9%. He said, there are currently 565 districts in the country where the case positivity rate is less than 5%.
Agarwal said, by last evening, India has crossed the 33 crore mark in vaccination coverage. He also informed that in rural areas, the vaccination coverage from 1st of May to 24th of June is 9.72 crore doses which comprises 56% of the total vaccination while in urban areas the coverage stands at 7.68 crore doses which is 44%.
Results Today:
SpiceJet (up 1.16%), Vodafone Idea (up 0.79%), Coffee Day Enterprises (up 0.36%), Dish TV India (up 0.07%), IRCON International (up 1.15%), Sadbhav Engineering (up 3.58%), Sequent Scientific (down 0.09%) and Rajesh Exports (up 0.16%) will announce their quarterly earnings today.
Stocks in Spotlight:
Reliance Industries (RIL) added 0.73% to Rs 2102.50. RIL announced the signing of an agreement with Abu Dhabi National Oil Company (ADNOC) for world-scale chemical projects at TA'ZIZ in Ruwais, Abu Dhabi. The strategic partnership is for joining a new world-scale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility.
Under the terms of the agreement, TA'ZIZ and Reliance will construct an integrated plant, with capacity to produce 940 thousand tons of chlor-alkali, 1.1 million tons of ethylene dichloride and 360 thousand tons of PVC annually.
Indiabulls Housing Finance shed 0.40% to Rs 262.95. The company's board has approved issuance of unsecured and/or secured, listed and/or unlisted, redeemable non-convertible debentures, with or without warrants or any other similar security denominated in INR, or combination thereof, in one or more tranches for an aggregate amount up to Rs 5,000 crore on private placement basis or otherwise.
Isgec Heavy Engineering jumped 4.96% to Rs 738.95. The company has received order for wet limestone flue gas desulphurisation system and flue gas conditioning system package (FGD-FGC Package) from Odisha Power Generation Corporation. The order is for their 2x660 MW TPPIB Thermal Power Station at Banharpalli, Jharsuguda, Odisha. The scope of work includes design, engineering, procurement, fabrication, construction, installation, commissioning, startup, and testing of FGD- FGC Package.
Buzzing Index:
The Nifty Metal index rose 1.23% to 5,290.15. The index declined 1.22% yesterday.
NMDC (up 2.56%), National Aluminum Co. (up 2.20%), Jindal Steel & Power (up 2.08%), APL Apollo Tubes (up 2%), SAIL (up 2.03%), JSW Steel (up 1.65%) and Tata Steel (up 1.45%) were the top index gainers.
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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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