Domestic equity benchmarks advanced and hit fresh intraday high in morning trade. The Nifty was trading above the 14,000 mark. PSU banks, media, FMCG, pharma and metal shares rallied.
At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 168 points or 0.35% to 47,919.33. The Nifty 50 index added 46.40 points or 0.33% to 14,028.15.
In the broader market, the S&P BSE Mid-Cap index gained 0.73% while the S&P BSE Small-Cap index rose 0.68%.
The market breadth was strong. On the BSE, 1743 shares rose and 659 shares fell. A total of 134 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,824.52 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 587.43 crore in the Indian equity market on 30 December, provisional data showed.
Coronavirus Update:
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Total COVID-19 confirmed cases worldwide stood at 83,418,729 with 1,818,008 deaths. India reported 254,254 active cases of COVID-19 infection and 148,994 deaths while 9,883,461 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
New Listing:
Shares of Antony Waste Handling Cell were trading at Rs 469 at 10:12 IST on the BSE, a premium of 48.89% over the initial public offer price of Rs 315.
The stock was listed at Rs 430, a premium of 36.51% to the initial public offer (IPO) price. So far the stock hit a high of Rs 492.75 and low of Rs 430. On the BSE, 11.58 lakh shares were traded on the counter so far.
The IPO of Antony Waste Handling Cell was subscribed 15.04 times. The issue opened for subscription on 21 December 2020 and closed on 23 December 2020. The price band for the IPO was set at Rs 313-315 per share.
Buzzing Index:
The Nifty PSU Bank index rose 1.74% to 1,783.25. The index declined 0.72% in the past two sessions.
In the past one year, the PSU bank index has declined by 29.41% while the Nifty Bank index lost 2.38%. The Nifty 50 index, however, gained 15.13% during the same period.
Bank of Maharashtra (up 3.45%), Punjab National Bank (up 3.03%), Bank of Baroda (up 2.52%), Indian Bank (up 2.39%), UCO Bank (up 1.97%), Bank of India (up 1.33%), Union Bank of India (up 0.95%), Indian Overseas Bank (up 0.93%), SBI (up 0.78%), Canara Bank (up 0.66%), Jammu and Kashmir Bank (up 0.43%) and CBI (up 0.36%) advanced.
Stocks in Spotlight:
Escorts rose 2.40% to Rs 1289.85 after company said its tractor sales jumped 88% to 7,733 units in December 2020 over December 2019. On a sequential basis, however, the tractor sales declined 23.9% in December 2020 from 10,165 units sold in November 2020.
"Post Lockdown, this is the first month where we could supply as per demand of customers, some of whom waited long to get their preferred tractor brand. Going forward all macroeconomic factors remain in favour of continued growth and we do not expect any significant supply-demand gaps. Rising Inflation, however, continues to be a worry," Escorts said in a regulatory filing.
Jindal Steel & Power (JSPL) added 1.15% to Rs 269.10. The company said its subsidiary, Jindal Power, was declared the successful bidder for Gare Palma IV/1 coal mine by the Ministry of Coal. The company won the auction for the coal mine at 25% bid premium of the representative price.
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