At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 543.27 points or 0.97% at 56,662.68. The Nifty 50 index was up 157.35 points or 0.94% at 16,862.85.
The Sensex hit record high of 56,677 while the Nifty scaled all time high of 16,866.40 in morning trade.
The broader market traded with strong gains. The S&P BSE Mid-Cap index and the S&P BSE Small-Cap index were up by 1.23% each.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 2177 shares rose and 729 shares fell. A total of 156 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 216,364,257 with 4,500,596 global deaths.
India reported 376,324 active cases of COVID-19 infection and 438,210 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
With the administration of 73,85,866 vaccine doses in the last 24 hours, India's COVID-19 vaccination coverage has surpassed the cumulative figure of 63.09 crore (63,09,17,927) as per provisional reports till 7 am yesterday. India's recovery rate now stands at 97.53%.
Buzzing Index:
The Nifty Metal index gained 2.2% to 5,613.30, rising for the second trading session. The index has added nearly 4% in two trading sessions.
Hindalco Industries (up 2.84%), Tata Steel (up 2.68%), Jindal Steel & Power (up 2.43%), Steel Authority of India (up 2.37%) and NMDC (up 2%) were the top gainers. Among the other gainers were Vedanta (up 1.81%), JSW Steel (up 1.66%), Coal India (up 1.48%), Hindustan Zinc (up 0.71%) and APL Apollo Tubes (up 0.61%) jumped.
Stocks in Spotlight:
Bharti Airtel rose 0.98% to Rs 599.75 after the company said its board approved a proposal to raise upto Rs 21,000 crore through rights issue of shares. In an exchange filing made on Sunday, the teleco said that its board comprehensively reviewed the industry scenario, business environment, financial/ business strategy of the company and approved the company's plan to raise further capital. Accordingly, the board approved the issuance of equity shares of face value of Rs 5 each of the company on rights basis to eligible equity shareholders of the company as on the record date (to be notified later), of an issue size of upto Rs 21,000 crore.
Dalmia Bharat gained 2.04% after the company's subsidiary, Dalmia Cement (Bharat), signed three memorandum of understandings with the Government of Jharkhand to invest Rs 758 crore in the state.
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