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 334.57 points or 0.64% at 52,909.03. The Nifty 50 index was up 102.80 points or 0.65% at 15,849.30. The Sensex scaled record high of 52,957.13 in early trade. Upbeat global stocks boosted sentiment.
The S&P BSE Mid-Cap index was up 0.83%. The S&P BSE Small-Cap index was up 1.22%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 2004 shares rose and 434 shares fell. A total of 70 shares were unchanged.
Stocks in news:
State Bank of India (SBI) rose 0.89%. SBI said that the Central Board of the bank accorded approval for raising fresh Additional Tier 1 (AT 1) capital up to an amount of Rs 14,000 crore by issuing Basel-III compliant bonds. The bonds are proposed to be raised in Indian or US currency.
Bharti Airtel rose 0.54%. TCS rose 0.82%. Bharti Airtel and Tata Group/TCS announced a strategic partnership for implementing 5G networks solutions for India.
Sun Pharmaceutical Industries rose 0.25%. Sun Pharmaceutical Industries and/or associate companies) along with one of its wholly owned subsidiaries today announced that they have reached an agreement with Celgene Corporation (Celgene), a wholly-owned subsidiary of Bristol Myers Squibb, to resolve the patent litigation regarding submission of an Abbreviated New Drug Application (ANDA) for a generic version of Revlimid (lenalidomide capsules) in the US.
KPIT Technologies jumped 5.29%. KPIT Technologies announced the signing of a definitive agreement to acquire a controlling stake in PathPartner Technology. PathPartner is a specialist design service and solution provider of operating system software and low-level software for Automotive, Camera, Radar, and Multimedia devices.
Dish TV India fell 1.4% to Rs 14.81. Dish TV India said its board approved the raising of funds up to Rs 1,000 crore through rights issue, at a price of Rs 10 per share.
Global Markets:
Overseas, Asian stocks are trading higher on Tuesday, tracking a U.S. equity rebound as the prospect of very gradual policy tightening tempers some of the concerns about the Federal Reserve's hawkish tilt.
Wall Street rallied on Monday as investors piled back in to energy and other sectors expected to outperform as the economy rebounds from the pandemic.
Back home, the domestic equity benchmarks settled with modest gains on Monday. The barometer index, the S&P BSE Sensex, gained 230.01 points or 0.44% at 52,574.46. The Nifty 50 index rose 63.15 points or 0.40% at 15,746.50.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,244.71 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 138.09 crore in the Indian equity market on 21 June, provisional data showed.
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