Key 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 342.46 points or 0.74% at 46,786.64. The Nifty 50 index was up 95.05 points or 0.7% at 13,696.15.
The S&P BSE Mid-Cap index was up 0.75%. The S&P BSE Small-Cap index was up 1.09%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1584 shares rose and 356 shares fell. A total of 72 shares were unchanged.
Stocks in news:
ACC advanced 4.69%. ACC has approved the renewal of the existing Technology and Know-How Agreement (TKH Agreement) with Holcim Technology (HTL) under which the Company pays TKH fees @1% of net sales each year, to HTL, for a period of 2 years with effect from 1 January 2021, i.e., on the same terms of the existing TKH Agreement.
Tata Communications surged 5.36%. Tata Communications has acquired majority equity stake of 58.1% in Oasis Smart SIM Europe SAS (Oasis), a France-headquartered embedded-SIM (eSIM) technology provider. Oasis develops and provides advanced technologies and personalised services to enable the deployment of eSIM and SIM technologies.
AU Small Finance Bank rose 0.58%. AU Small Finance Bank announced the launch of its new Mobile Banking App and NetBanking Portal. Aimed at providing a superior and comprehensive digital experience to customers, the new platforms will offer over 100 services that cater to not only regular banking needs but also daily lifestyle requirements such as ticket booking, bill payments, tax payments, shopping offers and much more.
ARSS Infrastructure Projects gained 4.99%. The company received work order of Rs 301.20 crore for execution of work of 4 laning of Itanagar to Banderdewa section of NH-415 on EPC mode in Arunachal Pradesh.
Global Markets:
Overseas, Asian stocks are trading higher on Thursday, with shares of Chinese tech giant Alibaba in the spotlight following reports that Chinese regulators will probe the firm for suspected monopolistic behavior.
In US, the S&P 500 closed barely in positive territory on Wednesday as an expected stimulus deal and falling jobless claims prompted investors to put their money into sectors most likely to benefit from the economy re-opening when it recovers from the global health crisis.
The number of Americans filing first-time claims for unemployment benefits unexpectedly fell last week. Initial claims for state unemployment benefits totaled a seasonally adjusted 803,000 for the week ended December 19, compared to 892,000 in the prior week, the Labor Department said on Wednesday.
Meanwhile, Britain and the European Union appeared close to clinching a long-elusive trade agreement on Wednesday. It comes after EU Chief Brexit Negotiator Michel Barnier said Tuesday that the bloc was making a final push to strike a Brexit trade deal with Britain ahead of December 31.
Back home, key domestic indices ended with strong gains on Wednesday, supported by rally in IT stocks. Positive global cues boosted sentiment. The BSE Sensex rallied 437.49 points or 0.95% to 46,444.18. The Nifty 50 index added 134.80 points or 1% to 13,601.10.
Foreign portfolio investors (FPIs) bought shares worth Rs 536.13 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,326.92 crore in the Indian equity market on 23 December, provisional data showed.
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