Local stocks are trading with modest gains on the first trading day of calendar year 2021. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 107.88 points or 0.23% at 47,859.21. The Nifty 50 index was up 37.05 points or 0.26% at 14,018.80. The Nifty regained the psychological 14,000 level in early trade.
The S&P BSE Mid-Cap index was up 0.5%. The S&P BSE Small-Cap index was up 0.52%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1369 shares rose and 413 shares fell. A total of 62 shares were unchanged.
Stocks in news:
Mahindra & Mahindra (M&M) gained 2.04%. M&M and Ford Motor Company have mutually, amicably determined they will not complete a previously announced automotive joint venture between their companies.
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IDBI Bank rose 1.77%. IDBI Bank has completed sale transaction of its 23% stake to Ageas Insurance International JV on 31 December 2020 pursuant to receipt of the requisite regulatory approvals.
Bharat Dynamics rose 1.5%. The company is geared up to take up export order with the announcement from the Union Cabinet regarding clearance of Akash Weapon System for export.
Infibeam Avenues rose 1.4%. Infibeam Avenues has divested its 100% ownership with control in its Wholly Owned Subsidiary i.e. Cardpay Technologies to its subsidiary i.e. Instant Global Paytech (GoPay). Hence, Cardpay will become a step down subsidiary of the company.
Global Markets:
Overseas, Asian stocks are shut today on account of New Year.
In US, Wall Street advanced on Thursday as investors closed the book on a turbulent year of pandemic, recession and recovery. All three major indexes gained ground, with the Dow and S&P 500 picking up steam in the session's final minutes to exit 2020 at record highs.
Back home, domestic equity barometers ended near the flat line on Thursday. The S&P BSE Sensex, added 5.11 points or 0.01% to 47,751.33. The Nifty 50 index lost 0.20 point to 13,981.75.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,135.59 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 257.64 crore in the Indian equity market on 31 December, provisional data showed.
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