At 11:29 IST, the barometer index, the S&P BSE Sensex, was up 457 points or 0.9% at 51,238.36. The Nifty 50 index gained 153.75 points or 1.03% at 15,135.10.
In broader market, the S&P BSE Mid-Cap index was up 1.1% while the S&P BSE Small-Cap index was surged 1.15%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1759 shares rose and 880 shares fell. A total of 148 shares were unchanged.
The February 2021 F&O contracts will expire today, 25 February 2021. Trading could get volatile as the session progresses as traders roll over positions in the F&O segment from the near month February series to March series.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 112,534,393 with 2,497,023 deaths. India reported 151,708 active cases of COVID-19 infection and 156,705 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
New Listing:
Shares of Nureca hit an upper circuit of 5% at Rs 666.65 at 11:17 IST on the BSE, a premium of 66.66% over the initial public offer (IPO) price of Rs 400. The stock was listed at Rs 634.95, a premium of 58.7% to IPO price. So far the stock hit a high of Rs 666.65 and low of Rs 603.25. On the BSE, 78 lakh shares were traded on the counter so far. The IPO of Nureca received bids for 5.59 crore shares as against 14.01 lakh shares on offer, according to the stock exchange data. The issue was subscribed 39.93 times.
Buzzing Index:
The Nifty Metal index surged 2.76% to 3,883.10, rising for fourth consecutive trading session. The index has jumped 9.3% in four trading days.
National Aluminium Company (up 4.46%), Hindalco Industries (up 3.18%), Coal India (up 2.8%), NMDC (up 2.26%), Tata Steel (up 1.99%), Steel Authority of India (up 1.82%), JSW Steel (up 1.81%), Jindal Steel & Power (up 1.62%) and Vedanta (up 1.03%) were top gainers in metal segment.
Global Markets:
Asian stocks advanced on Thursday after the Dow Jones Industrial Average surged to a record closing high overnight.
Shares on Wall Street ended higher on Wednesday, as a selloff in technology-related stocks eased and a rotation into cyclical shares continued after Federal Reserve Chair Jerome Powell's comments calmed inflation worries.
The moves on Wall Street came as U.S. Federal Reserve Chair Jerome Powell continued to downplay the threat of inflation, saying it could take three years to reach the central bank's target consistently.
In Wednesday's testimony in front of the House Financial Services Committee, Powell said inflation could be volatile as the economy reopens and there's increased demand. Still, the Fed chair does not expect inflation to run hot and said the central bank has tools to combat it if it should.
On Wednesday, the Food and Drug Administration's staff endorsed Johnson & Johnson's single-shot Covid-19 vaccine for emergency use, bringing in a third vaccine to the U.S.
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