The benchmark indices continued to trade near its intraday high during afternoon trade. Metal, IT and consumer durables stocks were in demand. The Nifty hovered near 16,900 mark.
At 13:30 IST, the barometer index, the S&P BSE Sensex, jumped 914.14 points or 1.64% at 56,736.15. The Nifty 50 index surged 268 points or 1.61% at 16,882.20.
Reliance Industries (RIL) (up 2.61%), ICICI Bank (up 2.25%) and Infosys (up 1.60%) boosted the indices.
Broader markets outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 1.84%. The S&P BSE Small-Cap index gained 1.83%.
Buyers outnumbered sellers. On the BSE, 2,485 shares rose and 777 shares fell. A total of 104 shares were unchanged.
Gainers & Losers:
Wipro (up 4.24%), Tata Steel (up 4.01%), HCL Technologies (up 3.89%), UPL (up 3.44%) and Hindalco Industries (up 3.17%) were major gainers in Nifty 50 index.
Power Grid Corporation of India (down 1.88%), Cipla (down 0.66%), Axis Bank (down 0.30%), Divi's Laboratories (down 0.07%) and Hero MotoCorp (down 0.02%) were major losers in Nifty 50 index.
Stocks in Spotlight:
Kalpataru Power Transmission (KPTL) (down 0.20%) and Techno Electric and Engineering Company (TEECL) (up 2.19%) (a joint-venture partner of KPTL) have sold their respective stakes of Kohima-Mariani Transmission (KMTL) to CLP India (Apraava Energy), the buyer. Kalpataru Power Transmission (KPTL) and Techno Electric & Engineering Company (TEECL), a joint venture partner of KMTL, has completed the transfer of 49% stake (23% by KPTL and 26% by TEECL) in Kohima‐Mariani Transmission (KMTL) to Apraava Energy (formerly known as CLP India). The remaining stake of KMTL will be transferred by KPTL in accordance with the terms of the Transmission Service Agreement (TSA).
Adani Enterprises (AEL) advanced 2.53% after the company secured a letter of award for Three Greenfield Ganga Expressway projects under DBFOT (toll) basis of 594 km from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA). AEL participated in the competitive bidding process invited by UPEIDA for the development, financing 8-construction of Ganga Expressway on PPP basis. The proposed Greenfield Ganga Expressway will be India's longest expressway under PPP framework which will connect Meerut with Prayagraj in Uttar Pradesh.
Shilpa Medicare jumped 4.19% after the drug maker on Tuesday announced the launch of chronic constipation drug in adults. The drug company launched PRUCALSHIL (Prucalopride), an orally disintegrating strips of 1 mg and 2 mg in India. Prucalopride is used for symptomatic treatment of chronic constipation in adults in whom laxatives fail to provide adequate relief. Prucalopride medicine in the form of orally disintegrating strips and are most convenient dosage form for geriatric patients. Orally disintegrating strips have an advantage such as greater dissolution due to large surface area, more patient compliance than oral tablets, no risk of choking & better taste masking etc.
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