The benchmark indices traded in a small range during early afternoon trade after an initial rally. The Nifty index hovered a tad above 15,850 level. Metal stocks witnessed buying demand. Positive global cues and strong domestic vaccination boosted market sentiment.
At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 284.19 points or 0.54% at 52,858.65. The index scaled a record high of 53,057.11 in morning trade. The Nifty 50 index gained 114.20 points or 0.73% at 15,860.70.
In the broader market, the S&P BSE Mid-Cap index rose 0.92% while the S&P BSE Small-Cap index gained 1.38%.
The market breadth was strong. On the BSE, 2,216 shares rose and 856 shares fell. A total of 142 shares were unchanged.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 17,87,86,160 with 38,73,255 deaths. India reported 6,62,521 active cases of COVID-19 infection and 3,89,302 deaths while 2,89,26,038 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
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India on Tuesday, 22 June 2021 reported 42,640 new COVID-19 cases, the lowest in three months. 81,839 people were discharged and 1,167 deaths were reported in the last 24 hours, the Union health ministry said. The country's active caseload has declined to 6,62,521.
More than 86.16 lakh vaccine doses, the highest ever single-day vaccination in the world so far, were administered across the country on June 21 as the revised guidelines for COVID-19 vaccination came into effect, the Union Health Ministry said. With that, the cumulative number of COVID-19 vaccine doses administered in the country crossed 28.87 crore.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, dropped 3.27% to 14.5675. The Nifty 24 June 2021 futures were trading at 15,861.85, at a premium of 1.15 points as compared with the spot at 15,860.70.
The Nifty option chain for 24 June 2021 expiry showed maximum Call OI of 65.4 lakh contracts at the 16,000 strike price. Maximum Put OI of 54.8 lakh contracts was seen at 15,000 strike price.
Buzzing Index:
The Nifty Metal index rose 1.15% to 5,163.75. The index added 2.27% in the last two sessions.
Welspun Corp (up 4.30%), Jindal Steel & Power (JSPL) (up 2.88%), Adani Enterprises (up 2.01%), National Aluminum Company (NALCO) (up 1.60%) and Tata Steel (up 1.56%) were the gainers in metal sector.
Stocks in Spotlight:
Sun Pharmaceutical Industries rose 0.01%. The pharmaceutical major along with one of its wholly owned subsidiaries today announced that they have reached an agreement with Celgene Corporation (Celgene), a wholly-owned subsidiary of Bristol Myers Squibb, to resolve the patent litigation regarding submission of an Abbreviated New Drug Application (ANDA) for a generic version of Revlimid (lenalidomide capsules) in the US.
Engineers India gained 1.98% after the company bagged an order from Numaligarh Refinery (NRL) for execution of revamp of delayed coker unit (DCU). Engineers India shall execute this project as licensor cum engineering, procurement & construction management (EPCM) consultant. The project involves enhancing the capacity of current DCU from 0.306 million metric tonne per annum (MMTPA) to 0.560 MMTPA as well as enabling it to process tougher feed. The estimated order value is Rs 111 crore.
Dish TV fell 1.20%. On Monday, the company announced that the company's board approved the raising of funds through rights issue by issuance of fully paid-up equity shares of the company for an amount aggregating up to Rs 1,000 crore. The price of rights issue is set at Rs 10 per share (including a premium of Rs 9 per fully paid up equity share) to eligible equity shareholders of the company as on the record date. The record date and ratio is yet to be finalised.
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