The domestic equity barometers further extended gains in mid afternoon trade. The Nifty crossed the 17,750 mark. IT shares rose for second day in a row.
At 14:24 IST, the barometer index, the S&P BSE Sensex, was up 341.37 points or 0.58% to 59,640.69. The Nifty 50 index added 97.85 points or 0.55% to 17,789.10.
In the broader market, the S&P BSE Mid-Cap index rose 0.29% while the S&P BSE Small-Cap index gained 0.64%.
The market breadth was strong. On the BSE, 2082 shares rose and 1118 shares fell. A total of 177 shares were unchanged.
India Services PMI:
The seasonally adjusted India Services Business Activity Index posted 55.2 in September, highlighting a marked increase in output. Despite falling from August's 18-month high of 56.7, the latest reading remained well above its long-run average. Where activity growth was reported, panellists mentioned accommodative market conditions and favourable underlying demand amid the easing of COVID-19 restrictions.
Numbers to Track:
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In the foreign exchange market, the partially convertible rupee fell to 74.4750 from its previous closing of 74.31.
MCX Gold futures for 5 October 2021 settlement fell 0.57% to Rs 46,618.
The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.271% as compared with its previous closing of 6.248%.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 93.94.
In the commodities market, Brent crude for December 2021 settlement rose 48 cents or 0.59% to $81.74 a barrel.
Buzzing Index:
The Nifty IT index rose 0.81% to 35,411.75. The index has added 1.81% in two sessions.
TCS (up 1.42%), HCL Tech (up 1.27%), Tech Mahindra (up 0.85%), Mphasis (up 0.85%), Wipro (up 0.60%), Infosys (up 0.57%), MindTree (up 0.39%) and Coforge (up 0.26%) advanced.
Stocks in Action:
IRCON International gained 2.66% to Rs 46.30. The company with its JV partner has emerged as the lowest bidder valuing RS.3429 Crore in the tender floated by National High Speed Rail Corporation (NHSRCL) for the design and construction of 18.133 km of viaduct involving Ahmedabad Station and Sabarmati Station and associated works for the project for construction of Mumbai-Ahmedabad High Speed Rail.
IDFC First Bank were trading 0.94% higher at Rs 48.10. The private sector bank's total customer deposits increased by 20.8% to Rs 83,793 crore as on 30 September 2021 as against Rs 69,368 crore as on 30 September 2020. Sequentially, the bank's deposits have fallen 1.3% as on 30 June 2021 from Rs 84,893 crore as on 30 June 2021.
BLS International Services rose 3.63% to Rs 275.40. The company said that that its contract with Royal Thai Embassy in New Delhi for visa services has been renewed last week. BLS will be accepting visa applications for Thailand from various cities of India. The company will be providing Thai visa application services along with several value-added services.
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