At 14:26 IST, the barometer index, the S&P BSE Sensex, was up 693.15 points or 2.27% at 31,295.76. The Nifty 50 index added 207.65 points or 2.31% at 9,200.45.
Among the sectoral indices, the Nifty Realty index (up 4.27%), the Nifty Private Bank index (up 4.16%) and the Nifty Auto index (up 3.85%) outperformed the benchmark Nifty 50 index. Meanwhile, the Nifty FMCG index (down 0.79%), Nifty Pharma index (down 0.13%) and the Nifty PSU Bank index (up 1.23%) underformed the benchmark Nifty 50 index.
The broader market underperformed the benchmark Sensex. The S&P BSE Mid-Cap index rose 1.82% while the S&P BSE Small-Cap index gained 2.17%.
The market breadth was titled in the favor of bulls. On the BSE, 1614 shares rose and 718 shares fell. A total of 166 shares were unchanged. In Nifty 50 index, 37 stocks advanced while 13 stocks declined.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee edged higher to 76.39 compared with its previous closing of 76.87.
The yield on 10-year benchmark federal paper fell to 6.348% as compared with 6.440% in the previous trading session.
MCX Gold futures for 5 June 2020 settlement fell 2.92% to Rs 45880.
In the commodities market, Brent crude for June 2020 settlement was down 7 cents to $27.75 a barrel. The contract rose 13 cents or 0.47% to settle at $27.82 a barrel in the previous trading session.
Buzzing Index:
The Nifty Realty index surged 4.27% to 189.05, extending gains for third day. The index has added 6.98% in three sessions.
Oberoi Realty (up 16.83%), Sunteck Realty (up 5.93%), Sobha (up 4.99%), Indiabulls Real Estate (up 4.93%), Parsvnath Developers (up 4.05%), Prestige Estates Projects (up 3.6%), Unitech (up 3.17%), Mahindra Lifespace Developers (up 3.1%), Housing Development and Infrastructure (HDIL) (up 2.51%), DLF (up 2.5%), Phoenix Mills (up 2.06%), Omaxe (up 1.39%), Godrej Properties (up 0.85%), D B Realty (up 0.76%) and Anant Raj (up 0.56%) advanced.
Peninsula Land (down 1.41%) and Brigade Enterprises (down 0.38%) declined.
Stocks in Spotlight:
Bharat Forge (up 17.70%), CESC (up 11.52%), NBCC (up 7%), LIC Housing Finance (up 6.18%) and TVS Motor Company (up 5.77%) were the top mid-cap gainers.
DCM Shriram (up 20%), Equitas Holdings (up 15.77%), DCB Bank (up 8.89%), IRB Infrastructure Developers (up 8.82%) and MOIL (up 8.44%) were the top small-cap gainers.
Grindwell Norton jumped 5.89% to Rs 474.80 after the company said it partially resumed operations at some of its plants, following the directives received from the authorities. The company added that the operations at other plants, except those engaged in offering essential services, remain suspended till 3 May 2020.
Cadila Healthcare slipped 1.95% to Rs 336.85. The drug maker informed that it has received final approval from the United States Food and Drug Administration (USFDA) to market Erlotinib tablets in the strengths of 25 mg, 100 mg, and 150 mg. Erlotinib, a bioequivalent to the reference listed drug product (RLD) Tarceva tablets, is a cancer medicine that interferes with the growth of cancer cells and slows their spread in the body. Cadila said that the drug will be manufactured at the group's formulation manufacturing facility at the SEZ, in Ahmedabad.
Godawari Power & Ispat added 0.76% to Rs 126.55. The iron ore miner announced that the company's subsidiary, Ardent Steels, has resumed operations at its iron ore pellet plant in Odisha.
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