Benchmarks hit record high levels; Nifty above 13,570

The main stock indices extended early gains and hit fresh record high in morning trade. Metal and PSU Bank rallied while pharma and realty shares declined. At 10:27 IST, the barometer index, the S&P BSE Sensex, added 325.82 or 0.71% at 46,285.01. The Nifty 50 index was up 92.75 points or 0.69% at 13,571.05.

The Sensex hit a record high of 46,298.11 while the Nifty 50 scaled a fresh record high of 13,574.30 in morning trade.

The broader market traded with decent gains. The S&P BSE Mid-Cap index was up 0.48% while the S&P BSE Small-Cap index jumped 1%.

The market breadth was strong. On the BSE, 1826 shares rose and 588 shares fell. A total of 115 shares were unchanged.

 

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 6,95,31,812 with 15,80,867 deaths. India reported 3,63,749 active cases of COVID-19 infection and 1,42,186 deaths while 92,90,834 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

F&O Segment:

The National Stock Exchange of India (NSE) on Thursday announced that it has received Sebi's approval to launch derivatives on the Nifty Financial Services Index. NSE will launch the instrument from 11 January 2021. The contract size will be 40 with a strike price interval of 100. The expiry will be in line with Nifty and Bank Nifty F&O contracts.

Buzzing Index:

The Nifty Metal index rose 1.28% to 3,152.75, rising for second trading session. The index has added 1.5% in two days.

Steel Authority of India (up 1.79%), Vedanta (up 1.66%), National Aluminium Company (up 1.56%), Tata Steel (up 1.29%), NMDC Ltd (up 1.21%), Hindalco Industries (up 1.01%), Hindustan Zinc (up 0.88%), Coal India (up 0.63%) and Jindal Steel & Power (up 0.58%) advanced.

Stocks in Spotlight:

TCS rose 0.39%. The IT major has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its 5,500+ employees across the state.

Ircon International jumped 6%. The company said it received the work of upgradation of Gurgaon - Pataudi -Rewari section of NH-352W as 35 feeder route in Haryana on Hybrid Annuity Mode valuing Rs 900 crore on competive bidding basis by National Highways Authority of India (NHAI).

PNC Infratech jumped 3.82%. The EPC company in Joint Venture with SPML Infra, received Letter of Acceptance (LOA) for an EPC Project namely Survey, Design, Preparation of DPR, Construction, Commissioning and O&M for 10 years of Rural Water Supply Project in 952 villages in Devipatan Division of Uttar Pradesh from the State Water Supply & Sanitation Mission, Namami Gange & Rural Water Supply Department on 10 December 2020.

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