At 14:28 IST, the barometer index, the S&P BSE Sensex, added 428.31 points or 1.11% at 39,125.55. The Nifty 50 index rallied 100.6 points or 0.88% at 11,517.80.
In the broader market, the S&P BSE Mid-Cap index was up 0.01% while the S&P BSE Small-Cap index gained 0.3%.
The market breadth was positive. On the BSE, 1416 shares rose and 1227 shares fell. A total of 170 shares were unchanged.
COVID-19 Update:
India reported 9,34,427 active cases of COVID-19 infection and 1,02,685 deaths while 55,86,703 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Total COVID-19 confirmed cases worldwide stood at 3,39,76,447 with 10,14,266 deaths
Buzzing Index:
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The Nifty Media index fell 1.06% to 1,574.2 and was a top loser in NSE Sectoral Indices.
Dish TV (down 3.56%), Zee Entertainment (down 1.92%), PVR (down 1.58%), SUN TV (down 1.53%) and Hathway Data (down 1.17%) were top losers in Media Index.
Stocks in Spotlight:
Dr. Reddy's Lab was up 0.55%. The drug major on Saturday (3 October 2020) announced the launch of a generic version of Sapropterin Dihydrochloride tablets for oral use in the US Market. The Hyderabad-based company said its Sapropterin Dihydrochloride tablets in 100 mg strength were available in bottle count sizes of 120.
Apollo Pipes advanced 4.9% after the company reported a growth of 12,268 MT in Q2 September 2020, an increase of 19% as compared to 10,306 MT in Q2 September 2019. The company after market hours on Thursday, 1 October 2020, said this growth was driven by contribution from across product categories including value-added product segment of fittings. The firm added that it anticipates further improvement in sales performance over the next few quarters on the back of better demand environment combined with an uptick in utilization levels.
Hatsun Agro Product jumped 7.59% after the company said its board will consider bonus share issue on 19 October 2020. The board will set 29 October 2020 as the record date for determining the shareholders eligible to vote on the resolutions for issue of bonus shares. Further, the board will also consider raising funds through private placement of equity shares to qualified institutional buyers.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee fell to 73.29 compared with its previous closing 73.13.
The yield on 10-year benchmark federal paper rose to 6.004% compared with previous closing of 5.996% in the previous trading session.
MCX Gold futures for 5 October 2020 settlement fell 0.76% to Rs 50,185'.
In the commodities market, Brent crude for December 2020 settlement rose 90 cents to $40.17 a barrel. The contract fell 4% to settle at $39.27 in the previous trading session.
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