The key equity indices are trading with small losses in early trade amid mixed trend in index pivotals. Most Asian stocks are trading higher.
At 09:25 IST, the barometer index, the S&P BSE Sensex, was down 24.92 points or 0.04% to 58,624.76. The Nifty 50 index lost 26.40 points or 0.15% to 17,443.35.
The domestic equity barometers witnessed profit booking after advancing in the past two trading sessions, during which the Sensex and the Nifty had gained 3.35% and 3.30%, each, respectively.
In the broader market, the S&P BSE Mid-Cap index rose 0.02% while the S&P BSE Small-Cap index added 0.19%.
The market breadth was positive. On the BSE, 1439 shares rose and 1002 shares fell. A total of 92 shares were unchanged.
Stocks in Spotlight:
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Mahindra & Mahindra (M&M) rose 0.50% to Rs 844.85. Reliance BP Mobility (RBML), operating under the brand name Jio-bp and The Mahindra Group, announced a non-binding MoU for exploring creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels. The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric 3 and 4 wheelers, quadricycles and e-SCV (small commercial vehicles - sub 4 ton).
Gland Pharma gained 1.37% to Rs 3578.80 after the company received a tentative approval from the United States Food and Drug Administration (US FDA) for Cangrelor for Injection, 50 mg/vial Single-Dose Vials.
Vedanta advanced 1.29% to Rs 346.25. The natural resources company said that its board, on 11 December 2021, will consider and approve second interim dividend on equity shares for the financial year 2021-22. The record date for the same is 18 December 2021.
Global markets:
Most Asian stocks are trading higher on Thursday as traders bet the global recovery will be resilient to the new virus strain.
Wall Street closed slightly higher on Wednesday with the three major indexes managing their third straight day of gains after test data showed the COVID-19 vaccine from Pfizer and BioNTech offered some protection against the new Omicron variant.
Meanwhile, the World Health Organization on Wednesday said the variant could change the course of the pandemic. Scientists worldwide are scrambling to determine just how contagious and lethal omicron is and how effective would existing vaccines be against the virus.
While preliminary evidence from South Africa, where the variant was first identified, may suggest that omicron is milder than the delta strain, WHO's technical lead on Covid-19 says it is too early to conclude that.
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