Key benchmark 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 200.85 points or 0.37% at 54,603.70. The Nifty 50 index was up 62.35 points or 0.38% at 16,320.60. The Nifty moved above 16,300 mark in early trade. Asian stocks are trading mixed.
The S&P BSE Mid-Cap index was up 0.45%. The S&P BSE Small-Cap index was up 0.26%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1413 shares rose and 1090 shares fell. A total of 91 shares were unchanged.
Stocks in news:
Reliance Industries (RIL) rose 0.63%. Reliance New Energy Solar (RNESL), a wholly owned subsidiary of Reliance Industries (RIL), along with strategic investors Paulson & Co. Inc. and Bill Gates, and a few other investors, has announced an investment of $144 million in Ambri Inc, an energy storage company based in Massachusetts, USA. The investment will help the company commercialise and grow its long-duration energy storage systems business globally. RNESL will invest $50 million to acquire 42.3 million shares of preferred stock in Ambri.
Coal India rose 0.07%. North Eastern Coalfields mines are managed directly by Coal India. The mines at Tikak, Tipong and Tirap of NEC were temporarily suspended from June 03, 2020 due to non-availability of forest and other Statutory Clearances.
Shree Cement dropped 3.72%. Shree Cement reported sharply higher consolidated net profit of Rs 630.89 crore in Q1FY22 against Rs 330.35 crore in Q1FY21. Total income jumped to Rs 3775.94 crore from Rs 2613.25 crore YoY.
Isgec Heavy Engineering advanced 2.74%. Isgec Heavy Engineering has received an order for a 175 KLPD Multi-feed Distillery from Dwarikesh Sugar Industries for their site at Bareilly, Uttar Pradesh.
NBCC (India) rose 0.94%. NBCC (India) has secured the total business of Rs. 646.91 crore in the month of July, 2021.
Global Markets:
Asian stocks are trading mixed on Tuesday following overnight declines for the Dow Jones Industrial Average and S&P 500 on Wall Street.
Worries about the impact of Covid on global growth continued to weigh on investor sentiment, with countries grappling with the spread of the highly transmissible delta variant of the virus.
In US, the S&P 500 dipped on Monday, as fuel demand worries during a resurgent pandemic sent energy stocks lower but rising U.S. Treasury yields lifted financials stocks, keeping Wall Street's benchmark index near record levels.
Two Federal Reserve officials said on Monday that the U.S. economy is growing rapidly and that while the labor market still has room for improvement, inflation is already at a level that could satisfy one leg of a key test for the beginning of interest rate hikes.
Back home, the domestic equity benchmarks managed to end with decent gains on Monday. The barometer index, the S&P BSE Sensex, advanced 125.13 points or 0.23% to 54,402.85. The Nifty 50 index added 20.05 points or 0.12% to 16,258.25.
Foreign portfolio investors (FPIs) bought shares worth Rs 211.91 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 716.15 crore in the Indian equity market on 9 August, provisional data showed.
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