The domestic equity benchmarks were currently at the day's high in the second half of the extended trading session. Trading resumed at 15:45 IST on the NSE.
At 16:25 IST, the barometer index, the S&P BSE Sensex, jumped 926.58 points or 1.86% to 50,677.99. The Nifty 50 index added 235.80 points or 1.60% to 14,943.60.
In the broader market, the S&P BSE Mid-Cap index rose 0.71%. The S&P BSE Small-Cap index gained 0.89%.
The market breadth was strong. On the BSE, 1831 shares rose and 1085 shares fell. A total of 168 shares were unchanged.
NSE Update:
The NSE and the BSE have extended trading hours till 5:00 PM today. Trading was halted on the NSE today morning due to a technical glitch.
Meanwhile, all the segments on the BSE were operating as usual on Wednesday, 24 February 2021.
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Economy:
In a tweet, the Office of Finance Minister Nirmala Sitharaman said: "Embargo lifted on grant of Govt business to private banks. All banks can now participate. Private banks can now be equal partners in development of the Indian economy, furthering Govt's social sector initiatives, and enhancing customer convenience."
Buzzing Index:
The Nifty FMCG index rose 0.09% to 33,054.75. The index has added 0.5% in two sessions.
Britannia Industries (up 2.10%), Godrej Consumer (up 1.22%), Nestle India (up 0.98%) and Dabur India (up 0.89%) advanced.
Jubilant Foodworks (down 4.12%), United Spirits (down 0.64%), Colgate-Palmolive India (down 0.56%) and Varun Beverages (down 0.24%) declined.
Stocks in Spotlight:
Nava Bharat Ventures soared 14.05% to Rs 66.95 after the company said its board will consider a share buyback on 26 February 2021.
Aditya Birla Fashion and Retail (ABFRL) jumped 4.87% to Rs 176.45 after the company announced a strategic partnership with Indian designer Tarun Tahiliani to form a new entity that will soon launch a contemporary men's ethnic wear brand. ABFRL will hold 80% stake in the new entity while Tarun Tahiliani will hold the remaining 20%. The new brand aims to build a Rs 500 crore business in the next 5 years with more than 250 stores across the country. The brand will launch the first set of retail stores by September 2021.
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