At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 295 points or 0.59% at 50,690.92. The Nifty 50 index gained 75.35 points or 0.5% at 15,004.
In broader market, the S&P BSE Mid-Cap index was up 0.4% while the S&P BSE Small-Cap index was gained 0.52%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1476 shares rose and 1008 shares fell. A total of 138 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 120,191,417 with 2,660,076 deaths. India reported 223,432 active cases of COVID-19 infection and 158,856 deaths while 110,27,543 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
The cumulative number of COVID-19 vaccine doses administered in the country has crossed 3.17 crore. A total of 3 crore 17 lakh 71 thousand 6 hundred 61 vaccine doses have been given so far. On the 59th day of nationwide COVID-19 vaccination on 15 March 2021, a total of 18 lakh 63 thousand 6 hundred 23 vaccine doses were given.
Economy:
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India's overall exports in February 2021 were $27.93 billion, as compared to $27.74 billion in February 2020, exhibiting a positive growth of 0.67%. In Rupee terms, exports were Rs 2,03,201.56 crore in February 2021, registering a positive growth of 2.46%.
Imports in February 2021 were $40.54 billion (Rs 2,94,985.04 crore), which is an increase of 6.96% in dollar terms and 8.86% in rupee terms over imports in February 2020.
The trade deficit for February 2021 was estimated at $12.62 billion as against the deficit of $10.16 billion in February 2020, which is an increase of 24.14%.
Taking merchandise and services together, overall trade deficit for April-February 2020-21 is estimated at $7.80 billion as compared to the deficit of $75.90 billion in April-February 2019-20.
Meanwhile, Ministry of Finance has released the final weekly installment of Rs 4,104 crore to the States to meet the GST compensation shortfall.
Buzzing Index:
The Nifty Metal index declined 1.26% to 3,831.10. The index rose 1.04% in the previous session.
Jindal Steel & Power (down 1.66%), Hindalco Industries (down 1.63%), Vedanta (down 1.5%), Tata Steel (down 1.45%), National Aluminium Company (down 1.42%), JSW Steel (down 1.38%), NMDC (down 1.03%), Steel Authority of India (down 0.91%) and Coal India (down 0.85%) declined.
Stocks in Spotlight:
Aarti Drugs advanced 3.80% to Rs 693 after the company said its board will consider a share buyback on Friday, 19 March 2021. In a BSE filing made before trading hours today (16 March 2021), the company said that its board will meet on Friday, 19 March 2021, to consider the proposal for buyback of equity shares.
Max Healthcare Institute rose 1.93% to Rs 205.85 after the company said it acquired 42.8% equity stake in Saket City Hospitals (SCHL) from Kayak Investments Holding. Max Healthcare Institute purchased 1.26 crore equity shares, representing 42.8% of the equity share capital of SCHL from Kayak. Following the transaction, SCHL has become a wholly-owned subsidiary of the company with effect from 15 March 2021. The consideration for the purchase of purchased shares is the INR equivalent to $64,246,702. Before the transaction, Max Healthcare Institute held 57.2% and Kayak Investments Holding held the remaining 42.8% stake in Saket City Hospitals. Kayak held 51.94% stake in Max Healthcare as on 31 December 2020.
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