Sensex jumps 485 pts, Nifty hits record high

Key indices were trading with robust gains in mid-afternoon trade. The Nifty hit a fresh record high of 17,229. IT and pharma shares rallied while auto, media and PSU banks declined.

At 14:25 IST, the barometer index, the S&P BSE Sensex, surged 485.44 points or 0.85% at 57,823.93. The Nifty 50 index advanced 151.40 points or 0.89% at 17,227.05.

Broader market traded in line with benchmark indices. The S&P BSE Mid-Cap index rose 0.86% while the S&P BSE Small-Cap index added 0.8%.

Buyers outnumbered sellers. On the BSE, 2,028 shares rose and 1,117 shares fell. A total of 148 shares were unchanged.

 

Buzzing Index:

The Nifty Realty index gained 0.82% to 411.7. The index has added 10% in six trading sessions.

Sobha (up 4.65%), Prestige Estates Projects (up 2.11%), Godrej Properties (up 1.87%), Brigade Enterprises (up 1.5%) and Sunteck Realty (up 1.06%) were the top gainers. Among the other gainers were DLF (up 0.8%), Phoenix Mills (up 0.66%) and Indiabulls Real Estate (up 0.59%).

Stocks in Spotlight:

Vedanta advanced 3.07% to Rs 307.10 after the company's board approved first interim dividend of Rs 18.50 per equity share for the financial year 2021-22, amounting to Rs 6,877 crore.

Bajaj Healthcare rose 3.07% to Rs 906.95 after the drug maker announced starting commercial production of Nimesulide API at Tarapur unit in Maharashtra. The company received approval from FDA Maharashtra (India), to manufacture and market Nimesulide API as approved medication for pain relief and prevention of fever in India and will commence its commercial production from tomorrow (3 September) onwards.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee rose to 73.0675 from its previous closing of 73.0850.

MCX Gold futures for 5 October 2021 settlement rose 0.16% to Rs 47,144.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% at 92.43.

In the commodities market, Brent crude for October 2021 settlement fell 36 cents or 0.5% to $71.23 a barrel.

The yield on 10-year benchmark federal paper fell to 6.186% from its previous close of 6.199%.

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