Key benchmark indices are trading with modest gains in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 40.44 points or 0.08% at 52,920.44. The Nifty 50 index was up 23.50 points or 0.15% at 15,857.85. Asian stocks are trading mixed.
The S&P BSE Mid-Cap index was up 0.24%. The S&P BSE Small-Cap index was up 0.41%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1836 shares rose and 757 shares fell. A total of 94 shares were unchanged.
Stocks in news:
Maruti Suzuki India rose 0.51%. The company produced 1,65,576 units in June 2021, against 50,742 units of production in June 2020. Production in June 2020 was far from normal owing to Covid-19 related lockdowns and disruptions.
NMDC lost 1.17% to Rs 173.25. NMDC said that the Government of India, the promoter, proposes to sell up to 11,72,24,234 equity shares in the company (representing 4% of the total paid-up equity), with an option to additionally sell 10,22,78,144 equity shares (representing 3.49% of the total paid-up equity) in case of oversubscription, via offer for sale, on July 6-7. The floor price for the offer shall be Rs 165 per share.
Force Motors jumped 7.99%. Force Motors said that production of commercial vehicles, utility vehicles and tractors stood at 1,757 units in June 2021.
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Dynemic Products surged 7.82%. The company has started commercial production for food colors plant at its manufacturing unit at Dahej, Gujarat. The cost of setting up the plant with an annual capacity of 2,760 MT is approximately Rs 150 crore.
CG Power and Industrial Solutions fell 0.56%. The Finance Committee of the board of directors of the company has allotted 1.38 crore shares at Rs 73.10 per share to Standard Chartered Bank (Singapore) on a preferential allotment basis for consideration other than cash.
Global Markets:
Asian stocks are trading mixed on Tuesday as investors look ahead to the Australian central bank's interest rate decision.
U.S. markets were shut on Monday in observance of Independence Day.
Meanwhile, OPEC+ ministers called off oil output talks on Monday after clashing last week when the United Arab Emirates rejected a proposed eight-month extension to output curbs, meaning no deal to boost production has been agreed.
Back home, the main indices ended with decent gains on Monday. The barometer index, the S&P BSE Sensex, rose 395.33 points or 0.75% at 52,880. The Nifty 50 index gained 112.15 points or 0.71% at 15,834.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 338.43 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 645.59 crore in the Indian equity market on 5 July, provisional data showed.
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