The benchmark indices pared gains in mid-morning trade. The Nifty was trading below 17,600 level. Media, oil & gas and FMCG shares declined.
At 11:30 IST, the barometer index, the S&P BSE Sensex, rose 193.63 points or 0.33% at 58,980.30. The Nifty 50 index gained 62.95 points or 0.36% at 17,574.25.
In the broader market, the S&P BSE Mid-Cap index added 0.44% while the S&P BSE Small-Cap index rose 0.92%.
The market breadth was strong. On the BSE, 2,225 shares rose and 1,061 shares fell. A total of 190 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,092.40 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 386.63 crore in the Indian equity market on 10 December 2021, provisional data showed.
Economy:
More From This Section
India's index of industrial production (IIP) grew by 3.2% in October 2021, according to the data released by the Ministry of Statistics & Programme (MoSPI) on Friday. Industrial output, as measured by IIP, leapt 4.5% in October 2020 and surged 3.1% in September. Meanwhile, the mining output during October (2021) rose by 11.4%, whereas, manufacturing sector output jumped 2%. Electricity generation in October grew 3.1%.
As per the BRICS Economic Bulletin 2021 released by the Reserve Bank of India (RBI) on 10 December 2021, India's recovery from the slowdown inflicted by the COVID-19 pandemic is projected to be higher than other member nations.
Buzzing Index:
The Nifty Metal index gained 1.29% to 5,732.05. The index jumped 7.58% in five trading sessions.
APL Apollo Tubes (up 4.27%), National Aluminium Co. (NALCO) (up 3.34%), Hindalco Industries (up 2.82%), Vedanta (up 2.57%) and Steel Authority of India (SAIL) (up 2.09%) were the top gainers in the Metal segment.
Stocks in Spotlight:
Kopran advanced 2.03% after the company's subsidiary received a 20-year process patent for the active pharmaceutical ingredient (API) product Nitroxoline. The Indian Patent office has granted Process Patent No. IN384085 for 20 years to Kopran Research Laboratories, a wholly-owned subsidiary of Kopran, for the active pharmaceutical ingredient (API) product Nitroxoline, for the invention titled "Improved, Cost Effective Process for Producing Nitroxoline".
Venky's (India) soared 5.03% after the company said it is setting up a new project for manufacturing veterinary medicine products under its animal health product segment. The company has acquired land admeasuring 15,030 square metres at Satara in Maharashtra for this purpose. The project is expected to be completed by March 2022 and the commercial production will commence from June 2022.
Global Markets:
Most Asian stocks advanced on Monday, 13 December 2021 with investors looking ahead to a week of central bank meetings that could indicate the end of US policy stimulus.
Investors now await the Federal Reserve's policy decision, due on Wednesday. The Fed is among the 20 central banks due to meet throughout the week, with the group also including the European Central Bank, the Bank of England and the Bank of Japan.
US stocks advanced on Friday and the S&P 500 notched an all-time closing high as market participants digested an inflation reading that was in line with consensus, but also marked the largest annual increase in consumer prices in nearly four decades.
On Friday, data showed US consumer prices continued to surge in November, climbing 6.8% compared to the same month in 2020, the biggest jump since June 1982.
Geopolitical tensions are on the rise after the Group of Seven reportedly warned Russia on Sunday to de-escalate its activities around Ukraine or face "massive consequences."
In the U.K., the government raised the coronavirus threat level Sunday and warned the rapid spread of the omicron strain pushed the country into risky territory. Prime Minister Boris Johnson reportedly said the U.K. faces a "tidal wave" of COVID-19 cases caused by the new variant.
Powered by Capital Market - Live News