At 09:27 IST, the barometer index, the S&P BSE Sensex, was up 87.75 points or 0.12% to 73,893.90. The Nifty 50 index rose 60.60 points or 0.09% to 22,399.35.
In the broader market, the S&P BSE Mid-Cap index shed 0.01% and the S&P BSE Small-Cap index declined 0.35%.
The market breadth was negative. On the BSE, 1,425 shares rose and 1,607 shares fell. A total of 130 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 81.87 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 44.71 crore in the Indian equity market on 02 March, provisional data showed.
Stocks in Spotlight:
NTPC rallied 3.16% after the companys board has accorded investment approval for Singrauli Super Thermal Power Project, Stage-III (2x800 MW) at an appraised current estimated cost of Rs. 17,195.31 crore.
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Avenue Supermarts shed 0.72%. The company has opened a new store at Hesaraghatta Road, Bengaluru (Karnataka). The total number of stores as on date stands at 347.
Godrej Properties gained 3.29% after the company announced that it has entered into definitive agreements to develop a large township project in North Bengaluru under a profit-sharing model. Spread across about 62 acres, the land is located in a prime area of North Bengaluru.
PSP Projects shed 0.54%. The company received new work orders worth Rs 386.24 crore (excluding taxes).
Numbers to Track:
The yield on India's 10-year benchmark federal paper was down 0.14% to 7.050 as compared with previous close 7.060.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.8700, compared with its close of 82.9100 during the previous trading session.
MCX Gold futures for 5 April 2024 settlement shed 0.13% to Rs 63,478.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 103.85.
The United States 10-year bond yield advanced 0.46% to 4.198.
In the commodities market, Brent crude for April 2024 settlement rose 8 cent or 0.10% to $83.63 a barrel.
Global Markets:
Asian stocks traded mixed on Monday, tracking US shares higher into a week that includes Federal Reserve boss Jerome Powells congressional testimony and Chinas National Peoples Congress.
Japans Nikkei-225 Stock Average surpassed 40,000 for the first time as the government discusses officially stating that the countrys economy has overcome deflation, as per reports. Chinese equities will be in focus ahead of the 14th National Peoples Congress, an annual parliamentary gathering in Beijing, that will begin Tuesday as markets await more stimulus measures to aid a soft economy.
U.S. stocks rose on Friday, with the S&P 500 and Nasdaq closing at record highs, as technology stocks rallied on continued enthusiasm for artificial intelligence, with further support from declining Treasury yields. All eyes will be on Federal Reserve Chair Jerome Powell when he testifies before lawmakers on Wednesday and Thursday.
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