The key equity barometers hit the day's high in morning trade. The Nifty traded above the 17,700 level. PSU banks advanced for sixth straight session.
At 10:21 IST, the barometer index, the S&P BSE Sensex, was up 674.01 points or 1.15% to 59,439.59. The Nifty 50 index added 183.10 points or 1.04% to 17,715.15.
In the broader market, the S&P BSE Mid-Cap index rose 0.96% while the S&P BSE Small-Cap index gained 1.22%.
The market breadth, indicating the overall health of the market, remained strong. On the BSE, 2292 shares rose and 733 shares fell. A total of 173 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 233,713,190 with 4,782,640 deaths. India reported 264,458 active cases of COVID-19 infection and 448,997 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.
A total of 90,73,60,198 COVID-19 vaccine doses have been administered in the country so far, with over 23.39 lakh doses being given yesterday, according to the Co-WIN dashboard.
Buzzing Index:
The Nifty PSU Bank index rose 1.24% to 2,531.75, extending gains for sixth day. The PSU bank index has added 7.39% in six sessions while the benchmark Nifty 50 index has gained 0.81% during the same period.
Among the index constituents, Union Bank of India (up 2.06%), Canara Bank (up 1.55%), Bank of India (up 1.41%), SBI (up 1.25%), Bank Of Baroda (up 1.21%), UCO Bank (up 1.10%) Central Bank of India (up 0.85%) and Indian Bank (up 0.78%) advanced.
Stocks in Spotlight:
Avenue Supermarts was up 0.80% to Rs 4273.15. The company said its standalone revenue from operations rose 46.6% to Rs 7,649.64 crore in Q2 September 2021 over Q2 September 2020. The company, which owns and operates retail chain D-Mart, reported a revenue from operations of Rs 5,218.15 crore in the same quarter last year, the company informed in a regulatory filing. In the pre-pandemic Q2 September 2019, Avenue Supermarts reported a revenue of Rs 5,949.01 crore.
Grasim Industries fell 1.84% to Rs 1642.70. The Deputy Commissioner of Income Tax has imposed a capital gain tax on the company of Rs 8,334 crore related to a sale of shares in group firm Aditya Birla Capital during tax assessment year 2018-19. The company said it will take appropriate action against the said order which it believes is against the spirit of tax laws.
Pfizer rose 0.88% to Rs 5621.35. The company has entered into a business transfer agreement with Mylan Pharmaceuticals to transfer certain primarily off-patent branded and generic established medicines business (Upjohn Business) as a going concern to Mylan for Rs 180.48 crore.
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