The broader market saw buying and outperformed the benchmark indices. The S&P BSE Mid-Cap index was up 0.43% while the S&P BSE Small-Cap index rose 0.69%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1920 shares rose and 1310 shares fell. A total of 167 shares were unchanged.
Trading could be volatile today as traders roll over positions in the F&O segment from the near month September series to October series. The September 2021 F&O contracts expires today, 30 September 2021.
Stocks in Spotlight:
HCL Technologies rose 0.16%. The IT company launched a 5G Open Radio Access Network (O-RAN) lab in India that will enable global telecom industry players to transition to a 5G network.
IRCTC rose 1.2%. The company has fixed 29 October 2021 as the record date, to ascertain the name of shareholders entitled for sub-division/split of equity shares of Rs 10 each into five equity shares of face value of Rs 2 each.
Zee Entertainment Enterprises fell 1.34%. Invesco Developing Markets Fund and OFI Global China Fund LLC (shareholders of the company) have filed a petition against the company, before the National Company Law Tribunal, Mumbai Bench, under Sections 98(1) and 100 of the Companies Act, 2013, inter alia requesting the tribunal to order an extraordinary general meeting of the company.
JK Cement rose 3.72%. The cement maker has undertaken upgradation of clinker Line 3 at JK Cement Works, Nimbahera. The upgradation has been completed and commissioned. With this the clinker capacity of Line 3 stands increased to 6500 TPD (from 5000 TPD).
Global markets:
Asian stocks are trading mixed on Thursday as investors reacted to the release of Chinese factory activity data for September. China's official manufacturing Purchasing Managers' Index for September came in at 49.6. Meanwhile, a private survey on Chinese factory activity in September came in above expectations, with the Caixin/Markit manufacturing PMI for the month rising to 50 for the month as compared with August's reading 49.2.
In China, investors continue to monitor the situation at China Evergrande Group. As per reports, some bondholders did not receive a due coupon payment by the close of Asia business hours on Wednesday.
Wall Street ended firmer on Wednesday in a partial rebound from the previous day's broad sell-off, with remarks from US Federal Reserve Chairman Jerome Powell and the ongoing debt ceiling debate keeping a lid on gains. The S&P 500 index and the Dow Jones Industrial Average advanced, but the Nasdaq Composite closed lower.
Federal Reserve Chair Jerome Powell and his counterparts in Japan, Europe and the U.K. voiced cautious optimism that supply-chain disruptions lifting inflation rates around the world would ultimately prove temporary.
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