The key equity indices traded in a narrow range in mid-morning trade. The Nifty continued to trade above the 17,800 mark. Autos, IT and metal stocks edged higher.
At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 551.16 points or 0.93% to 59,740.89. The Nifty 50 index added 161.05 points or 0.91% to 17,807.05.
In the broader market, the S&P BSE Mid-Cap index rose 1.50% while the S&P BSE Small-Cap index gained 1.44%.
The market breadth was strong. On the BSE, 2309 shares rose and 803 shares fell. A total of 152 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 236,467,427 with 4,827,642 deaths. India reported 244,198 active cases of COVID-19 infection and 449,856 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.
A total of 92,58,17,589 COVID-19 vaccine doses have been administered in the country so far, with over 42.91 lakh doses being given yesterday, according to the Co-WIN dashboard.
Buzzing Index:
The Nifty Auto index rose 3.77% to 10,965.75. The index declined 1.16% yesterday.
Tata Motors (up 9.18%), Ashok Leyland (up 5.12%), Maruti Suzuki (up 4.08%), Mahindra & Mahindra (up 3.79%) and Bharat Forge (up 3.38%) edged higher.
Further, TVS Motor Company (up 2.62%), Bajaj Auto (up 2.19%), Eicher Motors (up 2.15%), and Hero MotoCorp (up 1.50%) advanced.
Stocks in Spotlight:
Macrotech Developers jumped 4.16% to Rs 1,098.50. The company's pre-sales jumped 109% quarter on quarter and 88% year on year to Rs 2,003 crore in Q2 FY22. Collections grew by 12% quarter on quarter and 73% year on year to Rs 1,912 crore in Q2 FY22. The company's net debt for India business stood at Rs 12,508 crore, which is around the same level as Q1. The company estimates that the net debt will be at Rs 10,000 crore at the end of fiscal year in the India business.
Balaji Amines fell 1.41% to Rs 4575.35. The company said that a small incident took place at the company's unit III demethylformamide (DMF) plant which caused leakages/breakdown. While rectifying this the company added some debottlenecking activities to increase capacity. During this period, the DMF plant will not be in operational.
NTPC added 0.94% to Rs 144.70. ectricitde France S.A. (EDF), one of the world's leading power sector companies headquartered in Paris, France, and NTPC signed a Memorandum of Understanding (MoU) to explore potential power project development opportunities in the Middle East, Asia, Europe and Africa.
Global markets:
Asian stocks advanced across the board Thursday, with Hong Kong stocks leading gains. Mainland China markets remain closed on Thursday for the holidays.
Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.
US private payrolls increased more than expected in September as COVID-19 infections started subsiding, boosting hiring at restaurants and other high-contact businesses. Private payrolls increased by 568,000 jobs last month, the ADP National Employment Report showed. Data for August was revised lower to show 340,000 jobs added instead of the initially reported 374,000.
Investors are awaiting payrolls data due Friday, with investors anticipating that a reasonable figure will mean the US Federal Reserve will begin tapering its massive stimulus programme at its November meeting.
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