Volatility struck bourses in early trade as the key benchmark indices regained positive zone soon after opening lower. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 71.74 points or 0.14% at 52,807.33. The Nifty 50 index was up 13.85 points or 0.09% at 15,828.55. Asian stocks are trading lower.
The S&P BSE Mid-Cap index was up 0.42%. The S&P BSE Small-Cap index was up 0.5%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1700 shares rose and 849 shares fell. A total of 101 shares were unchanged.
Stocks in news:
HDFC Life Insurance Company fell 0.43% to Rs 693. Foreign promoter Standard Life will reportedly sell 3.46% stake in the company through block deal at a price band of Rs 658-678 per share.
NALCO rose 0.56%. On a consolidated basis, NALCO's net profit jumped 830.99% to Rs 935.74 crore on 45.74% rise in revenue from operations to Rs 2,821.48 crore in Q4 March 2021 over Q4 March 2020.
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RITES gained 1.03%. RITES said that Metro Express, Mauritius has awarded additional work of consultancy services (PMC) for extension of the mainline from Rose Hill to Reduit through Ebene for an additional fee of MUR 250 millions (Rs 45 crore approximately).
Ramco Systems advanced 2.78%. Ramco Systems announced that it will provide its next-gen Enterprise Resource Planning (ERP) software to Aden Ports Development Company (APDC) at their Aden Container Terminal (ACT), deepening its 12-year partnership with Yemen's largest container terminal.
Great Eastern Shipping Company rose 2.12%. The company had delivered its 1996 built Midsize Gas Carrier 'Jag Vayu' to the buyers. The vessel was contracted for sale in May 2021.
Hindustan Aeronautics (HAL) gained 0.93% after the company's consolidated net profit rose 31.2% to Rs 1,621.76 crore on a 4.8% rise in net sales to Rs 10,738.74 crore in Q4 FY21 over Q4 FY20.
Stove Kraft rose 0.4%. Stove Kraft said that the company is launching or upgrading a new range of Home and Kitchen appliances products for Onam festival which includes Mixer Grinder & Wet Grinder, Pressure cookers, Cast Iron Cookware, Sleek Glass Cooktop 2, 3 and 4 Burner, Double Walled Kettle, Hand Blender, Hand Mixer, Induction Stove, Desk Lamp, Turbo Food Processor, Shears and Cutting Board.
Global Markets:
Overseas, Asian stocks are trading lower on Tuesday amid new travel curbs in some parts of the world.
The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low. Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.
Back home, the key benchmark indices ended with modest losses on Monday. The barometer index, the S&P BSE Sensex, fell 189.45 points or 0.36% at 52,735.59. The Nifty 50 index lost 45.65 points or 0.29% at 15,814.70.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,658.72 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,277.08 crore in the Indian equity market on 28 June, provisional data showed.
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