At 11:21 IST, the barometer index, the S&P BSE Sensex, was up 250.52 points or 0.44% at 57,588.47. The Nifty 50 index gained 82.7 points or 0.48% at 17,158.50.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index was up 0.7% while the S&P BSE Small-Cap index added 0.64%.
The market breadth was strong. On the BSE, 1974 shares rose and 984 shares fell. A total of 129 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 218,376,489 with 4,542,472 global deaths.
India reported 389,583 active cases of COVID-19 infection and 439,529 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
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Buzzing Index:
The Nifty Consumer Durables index jumped 1.28% to 25,671.60. The index has added nearly 8% in six days.
Kajaria Ceramics (up 5.15%), Amber Enterprises India (up 4.04%), Voltas (up 2.77%), Bajaj Electricals (up 1.99%), Titan Company (up 1.26%), Blue Star (up 1.2%) and Whirlpool of India (up 0.67%) jumped.
Stocks in Spotlight:
Minda Corporation gained 3.69% to Rs 127.70 after the company's subsidiary Spark Minda Green Mobility Solutions entered into definitive agreements for acquiring 26% equity stake in charging solutions startup EVQPOINT Solutions. The investment will see Spark Minda Group become EVQPOINT's exclusive technology and manufacturing partner for battery chargers and EV supply equipment.
Hindustan Zinc was down 0.77%. The company said that the planned shutdown taken at one of the roasters at Chanderiya lead zinc smelter has been extended in view of the need to repair and overhaul many major structural components of the roaster. This is being done to avoid any operational risk in the future. The extension of the shutdown will result in loss of production of about 25KT of zinc.
Global Markets:
Asian stocks were mixed on Thursday. Australia reported a higher-than-expected trade surplus of 12.117 billion Australian dollars (about $8.93 billion) in July, according to data released Thursday by the country's Bureau of Statistics.
The Nasdaq closed Wednesday at a record high, and the S&P 500 rose but just missed a fresh peak, as September kicked off with renewed buying of technology stocks.
US manufacturing activity unexpectedly picked up in August. The ISM said its index of national factory activity inched up to 59.9 last month from a reading of 59.5 in July.
US private employers hired far fewer workers than expected in August. Private payrolls increased by 374,000 jobs last month after rising 326,000 in July, the ADP National Employment Report showed on Wednesday.
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