The key equity barometers reversed early losses and were trading with minor gains in morning trade. The Nifty traded above the 17,700 level. Oil & gas stocks extended gains for the third day amid firm crude oil prices.
At 10:20 IST, the barometer index, the S&P BSE Sensex, was up 7.69 points or 0.01% to 59,307.01. The Nifty 50 index added 12.60 points or 0.07% to 17,703.85.
In the broader market, the S&P BSE Mid-Cap index rose 0.80% while the S&P BSE Small-Cap index gained 0.12%.
The market breadth was strong. On the BSE, 1904 shares rose and 1044 shares fell. A total of 150 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 235,389,736 with 4,808,886 deaths. India reported 252,902 active cases of COVID-19 infection and 449,260 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.
A total of 91,49,94,809 COVID-19 vaccine doses have been administered in the country so far, with over 72.32 lakh doses being given yesterday, according to the Co-WIN dashboard.
Buzzing Index:
The Nifty Oi & Gas index rose 1.57% to 7,942.20. The index has added 2.12% in three sessions.
ONGC (up 5.22%), GAIL (up 3.59%), Oil India (up 3.52%), Gujarat Gas (up 3.44%), Gujarat State Petronet (up 2.80%), Indian Oil Corporation (up 2.57%), Mangalore Refinery and Petrochemicals (up 2.28%), HPCL (up 2.26%) and Adani Total Gas (up 1.56%) advanced.
In the commodities market, Brent crude for December 2021 settlement was up 0.21% at $81.43 a barrel. It has jumped 12.15% in the past one month.
Higher crude oil prices boost oil explorers' average realisation from every barrel of the oil sold.
Stocks in Spotlight:
HDFC Bank were trading 0.19% higher at Rs 1,588.80. The private lender's advances aggregated to approximately Rs 11,98,500 crore as of 30 September 2021, rising around 15.4% over Rs 10,38,300 crore as of 30 September 2020. On a sequential basis, advances grew by 4.4% from Rs 11,47,700 crore posted on 30 June 2021.
The bank's deposits aggregated to approximately Rs 14,06,000 crore as of 30 September 2021, recording a growth of around 14.4% over Rs 12,29,300 crore as of 30 September 2020 and a growth of around 4.5% over Rs 13,45,800 crore as of 30 June 2021.
The bank's CASA ratio stood at around 47% as of 30 September 2021 as compared to 41.6% as of 30 September 2020 and 45.5% as of 31 June 2021.
JSW Energy shed 0.66% to Rs 378. The company has signed a contract with Senvion India to procure 591 MW of wind turbines for its pipeline of renewable energy projects. Supply of the turbines will begin by the second half of 2022.
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