At 14:24 IST, the barometer index, the S&P BSE Sensex, rose 398 points or 0.80% at 49,608.97. The Nifty 50 index gained 116.25 points or 0.8% at 14,674.65.
The broader market was mixed. The S&P BSE Mid-Cap index added 0.71%. The S&P BSE Small-Cap index fell 0.11%.
Sellers outnumbered buyers. On the BSE, 1200 shares rose and 1,653 shares fell. A total of 193 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,258.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,116.17 crore in the Indian equity market on 18 March 2021, provisional data showed.
COVID-19 Update:
On 18 March, Mumbai recorded 2,877 new cases and 8 deaths. The BMC (Brihanmumbai Municipal Corporation) has said that it will make the Rapid Antigen Test facility to take samples for coronavirus testing compulsory for all malls in Mumbai.
India reported 2,71,282 active cases of COVID-19 infection and 1,59,370 deaths while 1,10,83,679 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Total COVID-19 confirmed cases worldwide stood at 12,18,04,270 with 26,91,300 deaths.
Numbers to Track:
In the commodities market, Brent crude for May 2021 settlement rose 55 cents to $63.83 a barrel. The contract lost nearly 7% to settle at $ 63.28 a barrel in the previous session.
The yield on India's 10-year benchmark federal paper fell to 6.201% as compared to its previous close of 6.202%.
In the foreign exchange market, the partially convertible rupee rose to 72.51, compared with its previous closing of 72.5350.
MCX Gold futures for 5 April 2021 settlement rose 0.26% to Rs 45,067.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.17% to 91.715.
Buzzing Index:
The Nifty Pharma index jumped 1.25% to 11,658.65, snapping its five day losing streak. The index saw bargain hunting after dropping 6.5% in five trading days.
Biocon (up 2%), Torrent Pharmaceuticals (up 1.84%), Divi's Laboratories (up 1.77%), Dr. Reddy's (up 1.67%), Lupin (up 1.23%), Cipla (up 1.19%) and Cadila Healthcare (up 1%) jumped.
Shares of Jubilant Ingrevia were up 5% at Rs 271.25 on the first day of listing on bourses. The stock was listed on the bourses today at Rs 258.35 per share. So far it hit a high of Rs 271.25 and a low of Rs 245.45 on the BSE. Jubilant Lifesciences demerged its pharma and lifesciences business, Jubilant Ingrevia, this year. Jubilant Lifesciences later renamed itself to Jubilant Pharmova.
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