The benchmark indices were trading near the day's high in early afternoon trade. Barring the Nifty IT index, all the sectoral indices on the NSE were in the green. Pharma stocks were trading firm.
At 12:20 IST, the barometer index, the S&P BSE Sensex, surged 500.60 points or 0.89% at 56,625.32. The Nifty 50 index added 155.50 points or 0.93% at 16,860.70.
The Sensex hit record high of 56,734.29 while the Nifty hit all time high of 16,881.35.
In the broader market, the S&P BSE Mid-Cap index rose 1.56% while the S&P BSE Small-Cap index gained 1.71%. Both the indices outperformed the Sensex.
The market breadth was strong. On the BSE, 2,227 shares rose and 908 shares fell. A total of 195 shares were unchanged.
Coronavirus Update:
Also Read
Total COVID-19 confirmed cases worldwide stood at 21,64,13,894 with 45,01,051 deaths. India reported 3,76,324 active cases of COVID-19 infection and 4,38,210 deaths while 3,19,23,405 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
With the administration of 73,85,866 vaccine doses in the last 24 hours, India's COVID-19 vaccination coverage has surpassed the cumulative figure of 63.09 crore (63,09,17,927) as per provisional reports till 7 A.M. yesterday. India's recovery rate now stands at 97.53%.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.74% to 13.505. The Nifty 30 September 2021 futures were trading at 16,876.50, at a premium of 15.80 points as compared with the spot at 16,860.70.
The Nifty option chain for 30 September 2021 expiry showed maximum Call OI of 19 lakh contracts at the 17,000 strike price. Maximum Put OI of 28 lakh contracts was seen at 16,000 strike price.
Buzzing Index:
The Nifty Pharma index rose 1.43% to 14,147.50. The index has added 2.82% in the past two sessions.
Biocon (up 2.45%), Sun Pharmaceutical Industries (up 1.87%), Torrent Pharmaceuticals (up 1.51%), Dr Reddy's Laboratories (up 1.43%) and Divi's Laboratories (up 1.41%) were the major gainers in the pharma segment.
Stocks in Spotlight:
GOCL Corporation jumped 9.21% after the company entered into an agreement with Squarespace Infra City for sale of 44.25 acre land at Kukatpally, Hyderabad, subject to requisite approvals, for a consideration of Rs 451.79 crore. The company has received a payment of 10% of the consideration on execution of an agreement. The transaction is expected to be completed in 3 to 6 months' time.
The remaining land of about 32.09 acres will continue under the joint development agreement (JDA) with Hinduja Estates (HEPL) for development based on approvals. In 2021, the company had entered into a JDA with HEPL for 76.34 acres land in Kukatpally.
Hero MotoCorp gained 1.54% after the two-wheeler major said it launched its latest motorcycle, Hero Hunk 150R, in Bangladesh. The Hunk 150R is available at an inaugural price of BDT 1,64,490 (double disc) and BDT 1,74,490 (double disc with single channel ABS), across Bangladesh at authorized dealer touch-points. Hero MotoCorp forayed into Bangladesh in April 2014 through a joint venture with Nitol Niloy Group.
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