Key benchmark indices are trading higher in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 67.20 points or 0.12% at 55,649.78. The Nifty 50 index was up 15.15 points or 0.09% at 16,578.20. The Sensex hit record high of 55,688.50 in early trade. The Nifty scaled record high of 16,591.40 in early trade.
The S&P BSE Mid-Cap index was up 0.31%. The S&P BSE Small-Cap index was up 0.39%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1351 shares rose and 1171 shares fell. A total of 98 shares were unchanged.
Stocks in news:
Infosys rose 0.47%. Infosys has agreed with TidalScale Inc, leading software-defined-server technology startup, to invest an additional sum of US$ 0.45 million (till date, the Company had invested US$ 3.0 million) taking the cumulative investment to US$ 3.45 million as of date), subject to necessary closing conditions.
Lupin rose 1.13%. Lupin announced that it has received tentative approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) Brivaracetam Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, to market a generic equivalent of Briviact Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, of UCB Inc.
Suven Life Sciences jumped 8.25%. Suven Life Sciences informed that NCE SUVN-502 (Masupirdine), a potent, selective, brain penetrant and orally active, novel chemical entity has planned initiation of global Phase 3 clinical trial for the treatment of Agitation and aggression in Alzheimer's type dementias with expected enrollment of patients from middle of September 2021.
Fiem Industries surged 14.42%. Fiem Industries said that the company is a sole supplier to Ola Electric for Head Lamps, Tail Lamps, Indicators, Rear Fender Assembly and Mirrors.
HLE Glascoat rose 1.32%. HLE Glascoat informed that ICRA - the Credit Rating Agency has upgraded rating to A (for long term facilities) and A2+ (for short term facilities) with a stable outlook.
Global Markets:
Overseas, Asian stocks are trading mixed on Tuesday as investors weighed a record-breaking run in the Dow and S&P 500 against concerns that the delta virus variant will choke global growth.
Investors continue to monitor the Covid situation in Australia, with the country's largest cities currently under lockdown.
In US, stocks ended at records Monday with the Dow and S&P 500 closing at record highs despite earlier losses tied to weaker-than-forecast Chinese economic data and the Taliban takeover of Afghanistan.
Investors will look ahead to U.S. retail sales data, set to be released Tuesday stateside by the Census Bureau.
Back home, benchmark indices settled with decent gains on Monday. The barometer index, the S&P BSE Sensex, advanced 145.29 points or 0.26% at 55,582.58. The Nifty 50 index rallied 33.95 points or 0.21% at 16,563.05.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,088.32 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 506.21 crore in the Indian equity market on 16 August, provisional data showed.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
