Key benchmark indices are trading near flat line after retreating from higher levels in early trade amid volatility. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 9.52 points or 0.02% at 56,899.28. The Nifty 50 index was down 5.85 points or 0.03% at 16,925.20. The Sensex hit record high of 57,124.78 in early trade. The Nifty scaled record high of 16,995.55 in early trade.
The S&P BSE Mid-Cap index was up 0.09%. The S&P BSE Small-Cap index was up 0.35%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1425 shares rose and 1058 shares fell. A total of 112 shares were unchanged.
India's gross domestic product (GDP) for the April-June quarter of the ongoing fiscal will be released today, 31 August 2021.
Stocks in news:
L&T fell 0.8%. L&T said that the company has completed the sale of its entire stake in L&T Uttaranchal Hydropower to ReNew Power Services consequent to completion of customary conditions precedent agreed under the Securities Purchase Agreement dated August 11, 2021.
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Ipca Laboratories declined 0.96%. Ipca Laboratories said that CRISIL has reaffirmed its credit rating for the company's commercial paper programme at A1+.
TVS Motor Company rose 0.05%. TVS Motor Company launched TVS 'Built To Order' (BTO) platform, marking its foray into the factory customisation and personalisation platform. The new business vertical, the TVS BTO platform will empower the customers to customise and personalise their vehicles when making a purchase, which will be built directly at the factory as per their requirement(s).
Acrysil gained 4.83%. Acrysil announced further expansion of production capacity by an additional 160,000 quartz sinks per annum (p.a.) through greenfield project at Bhavnagar in Gujarat. Thus taking the overall capacity to 1,000,000 sinks (1 million sinks) p.a.
HFCL declined 1.78%. HFCL said that the meeting of the board of directors of the company is scheduled on 3 September 2021, to consider and evaluate the proposals for fund raising by way of issue of equity shares/ preference shares/ bonds/ debentures/ non-convertible debt instruments/ equity shares/ warrants/ any other securities, including through preferential issue on a private placement basis, qualified institutional placement, rights issue or any other methods or combination thereof.
Global Markets:
Overseas, Asian stocks are mostly trading lower on Tuesday, as data showed slowing Chinese factory activity growth in August.
China's factory activity grew at a slower pace in August as compared with the previous month, data released Tuesday showed. The official manufacturing Purchasing Managers' Index for August came in at 50.1, against July's reading of 50.4.
In US, the S&P 500 and Nasdaq hit record highs on Monday as technology stocks jumped after the Federal Reserve's dovish comments eased fears of a sudden tapering in monetary stimulus and boosted optimism around an economic recovery.
Back home, the key equity indices rallied on Monday, supported by firm global cues. The barometer index, the S&P BSE Sensex, surged 765.04 points or 1.36% at 56,889.76. The Nifty 50 index added 225.85 points or 1.35% at 16,931.05.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,202.81 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 688.85 crore in the Indian equity market on 30 August, provisional data showed.
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