Key benchmark indices are trading near flat line in early trade amid initial volatility. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 23.76 points or 0.05% at 49,245.56. The Nifty 50 index was up 4.05 points or 0.03% at 14,488.80.
The S&P BSE Mid-Cap index was up 0.48%. The S&P BSE Small-Cap index was up 0.46%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1302 shares rose and 869 shares fell. A total of 111 shares were unchanged.
COVID-19 vaccine update:
Bharat Biotech reportedly inked a purchase agreement with the Government of India on January 11 to provide 55 lakh doses of COVID-19 vaccine Covaxin at Rs 295 per dose. The pharma firm will be providing its coronavirus vaccine directly to 12 states, and the process will be completed in two days by January 14. Dispatches will begin from Hyderabad starting January 12. Bharat Biotech will be providing 38.5 lakh doses of the COVID-19 vaccine in stage 1 and 16.5 doses in stage 2.
Stocks in news:
Tata Motors rose 2.82%. Tata Motors wholly owned subsidiary Jaguar Land Rover UK said retail sales for the quarter ending 31 December 2020 were 128,469 vehicles, 13.1% higher than the 113,569 vehicles sold in the preceding quarter, but down 9.0% on the same period last year.
GAIL (India) jumped 5.42%. GAIL (India) said that the meeting of the board of directors of the company is scheduled on 15 January 2021, to consider buyback of the equity shares and declaration of interim dividend.
Dr. Reddy's Laboratories (DRL) shed 0.3%. DRL announced that the independent Data and Safety Monitoring Board (DSMB) has reviewed the safety data from the phase 2 clinical trial of the Sputnik V vaccine and recommended the phase 3 recruitment and continue the clinical trial without any modifications.
Sunteck Realty rose 2.63%. Sunteck Realty announced its Q3 and 9M FY20-21 operational updates. The company saw a growth in pre-sales for Q3 FY21 at Rs 349 crore; it was up by 75% QoQ and by 7% YoY as well. Collections also grew at 79% QoQ to Rs 252 crore for Q3 FY21 and by 52% YoY. High buyer interest witnessed in both completed and newly launched projects.
Force Motors gained 2.42%. Force Motors said that the board of directors has approved for issuance of Non-convertible Debentures (NCDs), up to Rs 500 crore through private placement in one or more tranches.
Global Markets:
Overseas, Asian stocks were trading mixed on Tuesday after shares on Wall Street pulled back overnight from all-time highs.
US stocks fell on Monday as investors assessed equity valuations and the outlook for more Covid-19 relief stimulus, along with ongoing political turmoil.
Tensions were high in Washington again to start the week as House Democrats introduced an article of impeachment on Monday against President Donald Trump for inciting the mob attack at the Capitol. The lower chamber plans to vote on the article sometime this week. Multiple Cabinet-level officials have quit since the riot, with President-elect Joe Biden set to be inaugurated on January 20.
Back home, domestic equity benchmarks jumped to end near the day's high on Monday, supported by rally in IT and auto shares. The barometer index, the S&P BSE Sensex, jumped 486.81 points or 1% to 49,269.32. The Nifty 50 index gained 137.50 points or 0.96% to 14,484.75.
Foreign portfolio investors (FPIs) bought shares worth Rs 3,138.90 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,610.13 crore in the Indian equity market on 11 January, provisional data showed.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
