At 09:26 IST, the barometer index, the S&P BSE Sensex, was up 125.39 points or 0.17% to 71,856.81. The Nifty 50 index added 26.70 points or 0.12% to 21,798.40.
In the broader market, the S&P BSE Mid-Cap index rose 0.41% and the S&P BSE Small-Cap index gained 0.77%.
The market breadth was strong. On the BSE, 1,878 shares rose and 999 shares fell. A total of 79 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 518.88 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,188.68 crore in the Indian equity market on 5 February, provisional data showed.
Stocks in Spotlight:
Bharti Airtel rallied 2.16% after the companys consolidated net profit jumped 53.77% to Rs 2,442.2 crore in Q3 FY24 as against Rs 1,588.2 crore reported in Q3 FY23. Revenue from operations increased 5.85% YoY to Rs 37,899.5 crore in Q3 FY24. The growth was partially impacted by devaluation of African currencies during the period
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Adani Total Gas (ATGL) rose 0.09%, after the company announced that ATGL and INOX India have entered into a mutual support agreement, under which ATGL and INOXCVA shall mutually accord a preferred partner status for the delivery of LNG and LCNG equipment and services for identifying and exploring possible collaboration opportunities for strengthening the LNG ecosystem in the country.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.07% to 7.084 as compared with previous close 7.091.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.0300, compared with its close of 82.0325 during the previous trading session.
MCX Gold futures for 5 February 2024 settlement fell 0.12% to Rs 62,244.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 104.41.
The United States 10-year bond yield declined 0.72% to 4.139.
In the commodities market, Brent crude for March 2024 settlement added 6 cent or 0.08% to $78.05 a barrel.
Global Markets:
Asian stocks were trading lower on Tuesday with investors awaiting the Reserve Bank of Australias rate decision, though China stocks extended gains a day after its stimulus measures kicked in.
US stocks ended lower on Monday as Treasury yields spiked higher on concerns the Federal Reserve might not cut rates as much as expected. Lackluster results from McDonalds also dampened investor sentiment.
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