The domestic indices are trading with strong gains in early trade, bouncing from yesterday's sell off. The Nifty inched towards the 16,800 mark. Positive Asian stocks boosted sentiment. The market breadth was strong.
At 9:21 IST, the barometer index, the S&P BSE Sensex, was up 618.51 points or 1.11% to 56,440.61. The Nifty 50 index added 173.40 points or 1.04% to 16,787.55.
In the broader market, the S&P BSE Mid-Cap index surged 1.18% while the S&P BSE Small-Cap index added 1.62%.
Stocks in Spotlight:
Adani Enterprises rose 2.04%. The company said it received Letter of Awards (LoAs) from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for three Greenfield Ganga Expressway Projects - Group II, III and IV from Badaun to Prayagraj in the state of Uttar Pradesh on DBFOT (Toll) basis. The combined estimated cost for project is Rs 17,085.16 crore.
RailTel Corporation of India added 2.11% after the company received work order from Defence R & D Organisation for Expansion and Enhancement of CIAG Network Capacity at a total cost of Rs. 68.31 crore (Inclusive of GST).
Hatsun Agro Product fell 3%. The company announced it commenced commercial production at Govindapur Ice Cream manufacturing plant in Telangana with effect from 19 December 2021.
Global Markets:
Asian markets were trading higher on Tuesday as investors continued to monitor the situation surrounding the omicron Covid variant.
U.S. stocks ended lower on Monday as investors grappled with the resurgence of Covid cases spurred from the newfound omicron variant.
The omicron variant is raging across to the world as the winter holiday season approaches. U.S. cases are jumping into year-end with more than 156,000 reported on Friday, according to data from the Centers for Disease Control and Prevention.
The strain has been found through testing in 43 out of 50 U.S. states and around 90 countries, and the number of cases is doubling in 1.5 to 3 days in areas with community transmission, according to the World Health Organization.
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