Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 172.67 points or 0.29% at 58,895.87. The Nifty 50 index was up 53.45 points or 0.31% at 17,572.90. The Sensex hit record high of 58,908.18 in early trade. The Nifty scaled record high of 17,576.90 in early trade. Asian stocks are trading mixed.
The S&P BSE Mid-Cap index was up 0.43%. The S&P BSE Small-Cap index was up 0.41%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1745 shares rose and 821 shares fell. A total of 103 shares were unchanged.
Meanwhile, all eyes are on the GST Council meeting scheduled on Friday, 17 September 2021 in Lucknow. The agenda for the GST Council meet includes considering taxing petrol, diesel and other petroleum products under the single national GST regime.
Stocks in news:
Wipro rose 0.33%. The IT major announced that it has secured a multiyear contract from Kuala Lumpur- headquartered Maxis Broadband Sdn Bhd, a leading converged solutions provider.
Infosys shed 0.23%. The IT major announced announced a strategic collaboration with SAP, a market leader in enterprise application software, to provide Business Process Transformation-as-a-Service to enterprises.
Hindustan Copper dropped 5.22% to Rs 118. Government plans to sell 10% of the company's equity through an Offer for Sale. The initial plan is for the sale of 4.83 crore shares or 5% of the total equity with a green shoe option to sell another 4.83 crore shares or 5% of the total equity. The floor price of Rs 116 per share. The OFS opens for non-retail investors today and for retail investors tomorrow.
H.G. Infra Engineering gained 4.86%. The company has received the letter of award from National Highways Authority of India for two HAM projects.
Fineotex Chemical jumped 15.46%. The company has entered into a strategic collaboration with Eurodye-CTC, Belgium, to commercialize specialty chemicals for the Indian market.
Global Markets:
Asian stocks are trading mixed on Thursday, with casino shares in Hong Kong mostly seeing another day of losses. Chinese stocks listed in the U.S. slid the sixth day and U.S. casino firms with exposure to Macau tumbled. Officials have signaled tighter curbs on operators in the gaming hub, again spotlighting Beijing's regulatory curbs.
Japan's exports extended double-digit gains in August, led by strong shipments of chip manufacturing equipment. Exports rose 26.2% in August compared with the same month a year earlier, the Ministry of Finance said on Thursday.
In US, the S&P 500 and Dow Jones indexes rose on Wednesday on mildly positive factory data and higher oil prices, although concerns over a slowing economic recovery and higher corporate taxes kept sentiment subdued.
Production by US factories, mines and utilities in August surpassed the level seen before the pandemic caused an unprecedented collapse, according to Federal Reserve data released Wednesday. Industrial production increased 0.4% in August, but it could have been 0.3% points higher had it not been for the effects of Hurricane Ida, which caused flooding and destruction in parts of Louisiana and the northeastern United States.
Back home, the domestic equity benchmarks ended near the day's high after a strong session on Wednesday. The barometer index, the S&P BSE Sensex, surged 476.11 points or 0.82% to 58,723.20. The Nifty 50 index advanced 139.45 points or 0.80% to 17,519.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 232.84 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 167.67 crore in the Indian equity market on 15 September, provisional data showed.
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