Key equity indices continued to trade near the day's high in morning trade, mirroring other Asian indices. At 11:23 IST, the barometer index, the S&P BSE Sensex, was up 223.03 points or 0.48% to 46,229.72. The Nifty 50 index rose 61.45 points or 0.46% at 13,527.75.
The broader market rallied. The S&P BSE Mid-Cap index added 1.29% while the S&P BSE Small-Cap index rallied 2.05%.
The market breadth was strong. On the BSE, 1993 shares rose and 608 shares fell. A total of 125 shares were unchanged.
Wipro (up 3.94%), Bajaj Finance (up 2.11%), Cipla (up 2.05%), Infosys (up 1.84%) and Mahindra & Mahindra (up 1.50%) were the top Nifty gainers.
Divi's Laboratories (down 1.24%), ONGC (down 1.05%), Eicher Motors (down 0.99%), Titan Company (down 0.72%) and HDFC (down 0.77%) were the major Nifty losers.
COVID-19 Update:
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Total COVID-19 confirmed cases worldwide stood at 7,79,58,369 with 17,15,945 deaths. India reported 2,89,240 active cases of COVID-19 infection and 1,46,444 deaths while 96,63,382 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Global Markets:
Asian stocks advanced on Wednesday as the investor focus swung between concerns about a new faster-spreading variant of the coronavirus and hopes that more U.S. fiscal aid would propel an economic recovery.
In US, the S&P 500 fell for a third straight session on Tuesday even after Congress approved a long-delayed coronavirus relief package. The broad equity benchmark dipped 0.2%, or 7.66 points, to 3,687.26 in relatively thin trading. The Dow Jones Industrial Average slipped 200.94 points, or 0.7%, to 30,015.51. The Nasdaq Composite eked out a 0.5% gain to close at 12,807.92, a new record.
Congressional leaders attached $900 billion in pandemic aid to a $1.4 trillion measure to fund the government through 30 September 2020. President Donald Trump is expected to sign it into law in the coming days, weeks before he will leave office.
On the data front, a final reading showed third-quarter gross domestic product grew 33.4% on an annualized basis. That was revised slightly up from the 33.1% pace reported last month. The economy contracted at a 31.4% rate in the April-June quarter.
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