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 237.06 points or 0.41% at 58,414.82. The Nifty 50 index was up 61.60 points or 0.35% at 17,416.90. Asian stocks are trading mixed.
The S&P BSE Mid-Cap index was up 0.85%. The S&P BSE Small-Cap index was up 0.64%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1823 shares rose and 650 shares fell. A total of 104 shares were unchanged.
On the macro front, Consumer Price Index-based Inflation (CPI) for August 2021 came in at 5.30%, compared with 5.59% in July, as food prices cooled further, especially in the case of vegetable inflation, data released by the National Statistical Office (NSO) showed on September 13.
Stocks in news:
HCL Technologies rose 1.05%. HCL Technologies and HANCOM Inc., one of the leading South Korean software companies, have signed a strategic partnership to share advanced software technology solutions and establish a mutual bridgehead for overseas expansion.
Wipro rose 0.26%. Wipro has partnered with Tennessee-based First Horizon Bank (FHN) to transform the core banking channels and servicing capabilities of VirtualBank, an established digital bank that FHN inherited from Louisiana-based IBERIABANK as part of the merger completed in 2020. The combined entity's assets are approximately $87 billion.
Zee Entertainment Enterprises jumped 15%. Zee Entertainment Enterprises said that Manish Chokhani and Ashok Kurien have resigned from the position of non-executive non-independent directors of the company with immediate effect. Invesco Developing Markets Fund and OFI Global China Fund LLC in a letter on September 11 requisitioned EGM to remove Punit Goenka, Manish Chokhani and Ashok Kurien as directors.
Redington (India) shed 0.35%. Redington (India) said that its step down subsidiary Arena Bilgisayar Sanayi Ve Ticaret A.S. Turkey concluded its binding Share Purchase Agreement to acquire 100% shares of Brightstar Telekomikasyon Dagitim Ltd. Sti (Brightstar), for $35 million.
KNR Constructions advanced 4.56%. KNR Constructions said that the company is in receipt of Letter of Acceptance for HGCL - Widening of Existing Service roads from Nanakramguda to TSPA and Narsingi to Kollur and BT Overlay of Bitumen pavement from Gachibowli to Shamshabad of Outer Ring Road, Hyderabad, worth Rs. 312.79 crore.
Global Markets:
Asian stocks are trading mixed on Tuesday as investors look ahead to the release of U.S. consumer inflation data for August.
In US, the S&P 500 closed higher on Monday, ending a five-day losing streak as investors focused on potential corporate tax hikes and upcoming economic data. The Dow Jones Industrial Average also advanced, but the Nasdaq Composite Index ended lower.
Back home, equity benchmarks ended a volatile trading session with modest losses on Monday. The barometer index, the S&P BSE Sensex, was down 127.31 points or 0.22% at 58,177.76. The Nifty 50 index was down 13.95 points or 0.08% at 17,355.30.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,419.31 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 559.59 crore in the Indian equity market on 13 September, provisional data showed.
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