As per the provisional closing data, the barometer index, the S&P BSE Sensex, rose 209.69 points or 0.38% at 55,792.18. The Nifty 50 index gained 51.55 points or 0.31% to 16,614.25.
The Sensex hit a record high of 55,854.88 while Nifty hit a record high of 16,628.55 in early trade.
The gains were broad based. The S&P BSE Mid-Cap index rose 0.73% while the S&P BSE Small-Cap index gained 0.33%.
Sellers outnumbered buyers. On the BSE, 1141 shares rose and 2,027 shares fell. A total of 120 shares were unchanged.
IT major TCS was up 2.15% at Rs 3546.45. The stock hit a record high of Rs 3,560 in intraday today. The company's current market capitalisation stood at Rs 13,12,053.52 crore.
COVID-19 Update:
Also Read
Total COVID-19 confirmed cases worldwide stood at 20,78,67,008 with 43,71,589 deaths. India reported 3,69,846 active cases of COVID-19 infection and 4,32,079 deaths while 3,14,48,754 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
More than 88.13 lakh vaccine doses were administered in the last 24 hours. 55.47 crore vaccine doses have been administered so far under nationwide vaccination drive. India reports 25,166 new cases in last 24 hours, lowest in 154 days. Active cases constitute 1.15% of total cases, lowest since March 2020. India's Active caseload currently 3,69,846, lowest in 146 days. Recovery rate currently at 97.51%, highest since March 2020.
Stocks in Spotlight:
Infosys gained 2.13%. The IT major said it will invest an additional sum of $0.45 million in TidalScale Inc, a software-defined-server technology startup. Till date, the IT major has invested $3 million, taking the cumulative investment to $3.45 million as of date (subject to necessary closing conditions).
Caplin Point Laboratories fell 2%. Caplin Steriles, a subsidiary of the company received approval from Brazil's National Health Surveillance Agency ANVISA for its sterile injectable manufacturing site near Chennai, Tamilnadu. The approval grants access to the company to register and market its products in Brazil, the largest Pharmaceutical market in Latin America.
Steel Strips Wheels (SSWL) hit an upper circuit of 5% at Rs 1,665.15 after the company said that its board will consider stock split on Friday, 3 September 2021.
Fiem Industries was locked in an upper circuit of 20% at Rs 951.80 after the company said it is the sole supplier of headlamps, tail lamps, indicators, rear fender assemblies and mirrors for Ola Electric's newly launched scooters S1 and S1 Pro. The company said it sees a huge potential in the Indian two-wheeler electric vehicle (EV) segment and going forward, and it is hopeful to capturing greater market share in this segment.
Lupin rose 0.73%. The drug major announced that it has received tentative approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Brivaracetam tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, to market a generic equivalent of Briviact tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, of UCB Inc.
RailTel Corporation of India fell 0.7%. The company received two works of tunnel communication of Central Railway from Indian Railways with completion period of 12 months. The total anticipated project cost of the work is Rs 38.82 crore.
Suven Life Sciences jumped 6.18% after the company announced phase three clinical trial of SUVN-502 (Masupirdine), an antagonist for treatment of agitation and aggression in Alzheimer's type dementias. The multi-center study (sites in the US and Europe) comprising about 387 patients is likely to be completed in about 36 months and the topline result expected by the end of year 2024.
Global Markets:
US Dow Jones futures were down 188 points, indicating a weak opening in the US market later today.
Shares in Europe and Asia declined on Tuesday. The ongoing coronavirus pandemic and spread of the highly transmissible delta COVID-19 variant has rattled investors confidence. Oil prices erased earlier gains on Tuesday amid persistent worries about the outlook for global fuel demand.
Investors are also monitoring the potential geopolitical implications following the Taliban's seizure of Kabul, the capital city of Afghanistan. U.S. President Joe Biden rejected blame for the scenes of turmoil and panic as thousands of people were seen at a Kabul airport desperately trying to flee.
Biden described the anguish of those trapped in the country as "gut-wrenching" and conceded the Taliban's lightning offensive had occurred more quickly than expected. His comments came amid mounting criticism of his administration's handling of the situation.
Investors continued to monitor the COVID-19 situation in Australia, with the country's largest cities currently under lockdown. Meanwhile, New Zealand has announced a snap lockdown after a man tested positive for Covid, the first case in six months.
US stocks ended at record levels on Monday with the Dow and S&P 500 closing at record highs despite earlier losses tied to weaker-than-forecast Chinese economic data and the Taliban takeover of Afghanistan. Investors will look ahead to U.S. retail sales data, set to be released Tuesday stateside by the Census Bureau.
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