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 269.13 points or 0.54% at 50,061.25. The Nifty 50 index was up 84.95 points or 0.58% at 14,729.65. The Sensex scaled record high above 50,100 level in early trade. The Nifty also hit record high a tad below 14,750 level.
The S&P BSE Mid-Cap index was up 0.82%. The S&P BSE Small-Cap index was up 0.72%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1375 shares rose and 441 shares fell. A total of 71 shares were unchanged.
Stocks in news:
Bajaj Finance gained 3.03%. Bajaj Finance reported a 29% drop in consolidated net profit to Rs 1145.98 crore on a 5.2% fall in total income to Rs 6658.47 crore in Q3 December 2020 over Q3 December 2019.
L&T Technology Services dropped 2.02%. The company reported 12.4% rise in consolidated net profit to Rs 186.10 crore on 6.6% rise in revenue to Rs 1400.70 crore in Q3 December 2020 over Q2 September 2020.
HDFC Asset Management Company (AMC) fell 1.4%. The company's net profit rose 4.73% to Rs 369.26 crore on 8.16% decrease in revenue from operations to Rs 481.86 crore in Q3 December 2020 over Q3 December 2019.
Aditya Birla Fashion and Retail jumped 6.26%. Competition Commission of India (CCI) has accorded its approval to Flipkart for its proposed acquisition of 7.8% equity stake in the company on a fully diluted basis.
Syngene International rose 0.14%. Syngene International reported 11% rise in consolidated net profit to Rs 102 crore on 12% increase in total revenue to Rs 602 crore in Q3 December 2020 over Q3 December 2019.
Havells India surged 5.85%. The company reported 74.53% surge in consolidated net profit to Rs 350.14 crore on 39.87% rise in total income to Rs 3,214.24 crore in Q3 December 2020 over Q3 December 2019.
Global Markets:
Overseas, Asian stocks rose on Thursday after stocks on Wall Street sailed to record highs as U.S. President Joe Biden was sworn into office.
In US, the stock market rallied to a record close as President Joe Biden was sworn into office, sparking hopes for another stimulus package and smoother vaccine rollout ahead.
The Dow Jones Industrial Average jumped 257.86 points, or 0.8%, to a new closing high of 31,188.38. The S&P 500 advanced 1.4% to a record close of 3,851.85, led by the communication services sector. The tech-heavy Nasdaq Composite jumped nearly 2% to 13,457.25, notching a fresh record. All three averages also touched their intraday highs during the session.
Netflix soared after the company reported strong subscriber growth and said it's considering share buybacks. The company also said it expects to break even on a cash flow basis this year.
Biden was inaugurated to succeed President Donald Trump as the 46th president of the United States. Janet Yellen, Biden's designated nominee for Treasury Secretary, on Tuesday endorsed higher aid spending and urged lawmakers to act big.
Back home, the benchmark indices advanced for the second trading session on Wednesday, tracking positive global cues. The S&P BSE Sensex, surged 393.83 points or 0.80% at 49,792.12. The Nifty 50 index soared 123.55 points or 0.85% at 14,644.70.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,289.05 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 864.62 crore in the Indian equity market on 20 January, provisional data showed.
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