At 09:26 IST, the barometer index, the S&P BSE Sensex, was up 68.05 points or 0.09% to 72,494.69. The Nifty 50 index added 35.85 points or 0.16% to 22,078.05.
The broader market outperformed the key indices. The S&P BSE Mid-Cap index rose 0.29% and the S&P BSE Small-Cap index gained 0.74%.
The market breadth was strong. On the BSE, 2,205 shares rose and 896 shares fell. A total of 135 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 253.28 crore, while domestic institutional investors (DIIs), and were net buyers to the tune of Rs 1,571.00 crore in the Indian equity market on 16 February, provisional data showed.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was constant at 7.099 as compared to previous close.
More From This Section
MCX Gold futures for 5 April 2024 settlement rose 0.24% to Rs 62,025.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 104.22.
The United States 10-year bond yield declined 0.28% to 4.287.
In the commodities market, Brent crude for April 2024 settlement slipped 60 cents or 0.72% to $82.87 a barrel.
Stocks in Spotlight:
Bajaj Auto rallied 2.59% after the companys Buyback committee constituted by the board of directors has fixed 29 February 2024, as the record date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback.
Life Insurance Corporation of India (LIC) advanced after the LIC had received refund orders for Assessment Years 2012- 13, 2013-14, 2014-15, 2016-17, 2017-18, 2018-19 and 2019-20. The total amount of refund was Rs.25,464.46 crore. In this regard Income tax Department has released Rs. 21,740.77 Crore on 15 February 2024. LIC is pursuing for the balance with the Income Tax Department.
Tata Power Company rose 1.70% after the company has received Letter of Intent (LOI) from REC Power Development and Consultancy Limited (a wholly-owned subsidiary of REC Limited) to acquire Jalpura Khurja Power Transmission Limited, a project special purpose vehicle (SPV).
One 97 Communications (OCL) was locked in upper circuit of 5% after the OCL which runs Paytm, said that it has shifted its nodal account to Axis Bank by opening an Escrow Account, to continue seamless merchant settlements as before. OCL said that this arrangement is expected to seamlessly replace the nodal account that the firm was using with Paytm Payments Bank.
Global Markets:
Asian stocks were trading mixed on Monday after Wall Street slumped on Friday amid signs US inflation is stickier than expected. Chinese shares are trading higher as they resume trading following the week-long Lunar New Year break.
The Peoples Bank of China on Sunday held a key policy rate steady as expected. Chinas central bank said it was holding the rate unchanged at 2.5% on 500 billion yuan ($69.51 billion) worth of one-year medium-term lending facility.
US stocks fell on Friday after a hotter-than-expected producer prices report eroded hopes for imminent interest rate cuts by the Federal Reserve.
Powered by Capital Market - Live News