At 11:23 IST, the barometer index, the S&P BSE Sensex, jumped 615.84 points or 1.18% at 52,814.79. The Nifty 50 index gained 171.9 points or 1.1% at 15,804.
In broader market, the S&P BSE Mid-Cap index surged 0.83% while the S&P BSE Small-Cap index was gained 1.5%.
The market breadth was strong. On the BSE, 2245 shares rose and 794 shares fell. A total of 142 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 191,951,455 with 4,126,444 global deaths.
India reported 409,394 active cases of COVID-19 infection and 418,987 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty Metal index jumped 2.2% to 5,307.95. The index lost 3.66% in the past two sessions.
JSW Steel (up 3.3%), Jindal Steel & Power (up 2.97%), Tata Steel (up 2.86%), Hindalco Industries (up 2.83%) and Vedanta (up 2.63%), Steel Authority of India (up 2.36%), APL Apollo Tubes (up 2.27%), Coal India (up 1.47%), NMDC (up 1.37%) and Hindustan Zinc (up 1.01%) rose.
Stocks in Spotlight:
Wipro gained 1.32%. The IT major announced the launch of Wipro FullStride Cloud Services and its commitment to invest $1 billion in cloud technologies, capabilities, acquisitions and partnerships over the next three years. Wipro FullStride Cloud Services will bring the full portfolio of its cloud-related capabilities, offerings and talent to better orchestrate the cloud journey for clients. Wipro FullStride Cloud Services will build on Wipro's existing and extensive cloud business with clients and significantly expands the investment with its partners and hyperscalers, creating industry solutions that accelerate results for mutual clients.
Reliance Industries (RIL) rose 0.43%. The company said that the appointment of Yasir Al Rumayyan as an independent director of the company has taken effect from 19 July 2021. On 24 June 2021, the board of the conglomerate had approved the appointment of Yasir O. Al-Rumayyan, as an additional director of the company, designated as an independent director.
Global markets:
Asian markets advanced on Thursday after solid company earnings boosted Wall Street, easing concerns about peak economic growth and coronavirus flareups. Markets in Japan are closed on Thursday for a holiday.
Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the U.S. economic recovery fueling a risk-on rally.
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