Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 310.31 points or 0.59% at 52,794.98. The Nifty 50 index was up 92.55 points or 0.59% at 15,814.75. The Nifty regained the 15,800 mark in opening trade. Asian stocks are trading mixed.
The S&P BSE Mid-Cap index was up 0.25%. The S&P BSE Small-Cap index was up 0.65%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1952 shares rose and 674 shares fell. A total of 119 shares were unchanged.
Stocks in news:
HCL Technologies rose 0.74%. HCL Technologies announced a multi-year agreement with Fiskars Group, consisting of a family of lifestyle brands including Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford and Wedgwood. HCL as a partner will enable Fiskars to standardize and harmonize their IT and business processes, drive operating model transformation and increase overall digital maturity.
Avenue Supermarts gained 2.31%. Avenue Supermarts said that its standalone revenue from operations has increased to Rs 5,031.75 crore in Q1 June 2021 from Rs 3,833.23 crore in Q1 June 2020, registering a YoY growth of 31.27%.
More From This Section
CSB Bank dropped 1.5%. CSB Bank said that its total deposits increased 14.17% to Rs 18,652.80 crore as on 30 June 2021 from Rs 16,337.95 crore as on 30 June 2020.
Indian Hume Pipe Company advanced 3.6%. Indian Hume Pipe Company has received the Letter of Acceptance for the work of about Rs.257.60 crores (including GST) from Madurai City Municipal Corporation for dedicated Water Supply Scheme for Madurai City Municipal Corporation for construction of distribution Network System (DI & HDPE), House service connections and Instrumentation for Madurai City Municipal Corporation Added Area-Package-4.
DCB Bank rose 1.55%. DCB Bank on Saturday (3 July) announced a downward revision of marginal cost of funds based lending rate (MCLR) by 4 basis points across different tenors.
Wonderla Holidays surged 4.37%. Wonderla Resort in Bangalore is set to reopen its business from 5 July 2021 with a 50% capacity as a crowd control measure.
Global Markets:
Overseas, Asian stocks are trading mixed on Monday after U.S. shares climbed further on speculation the Federal Reserve has scope to continue providing substantial stimulus support.
A private survey on China's services sector activity in June showed growth slowing sharply in June to a 14-month low. The Caixin/Markit services Purchasing Managers' Index for June, released Monday, came in at 50.3 a significant decline from May's reading of 55.1.
U.S. markets will remain closed on Monday in observance of Independence Day.
U.S. stocks advanced a second straight week to end Friday, with all three benchmark indexes at fresh all-time highs before heading into a long holiday weekend, after a monthly report employment was better than expected as the economy bounces back from the COVID pandemic.
The U.S. added 850,000 jobs in June, marking the biggest monthly gain since March, and jobs gains in May were raised slightly to 583,0000 from 559,000. Unemployment rose to 5.9% in June from 5.8% in May.
Outside of the jobs data, a reading on factory orders for May showed a 1.7% rise, after a revised 0.1% decline in the prior month, the Commerce Department said Friday. Factory orders have risen in 12 of the last 13 months.
Meanwhile, Organization of the Petroleum Exporting Countries and a Russia members of the group known as OPEC+ on Friday again delayed a decision about easing output curbs that have been in place to help stabilize crude prices.
The oil decision comes as the group is trying to balance the after effects of the COVID pandemic on energy demand and concerns about the impact of variants of the coronavirus in parts of the world against expectations for higher demand as many economies emerge from lockdowns and stay-at-home protocols put in place to limit the pandemic's spread.
Back home, the domestic equity barometers ended with decent gains on Friday. The barometer index, the S&P BSE Sensex, rose 166.07 points or 0.32% to 52,484.67. The Nifty 50 index rose 42.20 points or 0.27% to 15,722.20.
Foreign portfolio investors (FPIs) sold shares worth Rs 982.80 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 930.39 crore in the Indian equity market on 2 July, provisional data showed.
Powered by Capital Market - Live News