At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 190.76 points or 0.25% to 77,531.84. The Nifty 50 index rose 39.85 points or 0.17% to 23,577.70.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.49% and the S&P BSE Small-Cap index added 0.81%.
The market breadth was strong. On the BSE, 2,256 shares rose and 662 shares fell. A total of 96 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 653.97 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 820.47 crore in the Indian equity market on 24 June 2024, provisional data showed.
Economy:
India's telecom spectrum auction starts today (June 25th) offering airwaves worth Rs 96,318 crore. The government reportedly aims for Rs 10,000 crore. This auction includes frequencies from 800 MHz to 26 GHz bands and offers 20-year validity with options for sharing or surrendering spectrum after 10 years.
Stocks in Spotlight:
Ind-Swift Laboratories rallied 3.64% to Rs 122.50 after the company said that its board will meet on Thursday, 27 June 2024 to raise funds by issuing one or more instruments through various modes.
Satin Creditcare Network added 1.45% to Rs 237.75 after the company announced to raise up to Rs 5,000 crore through non-convertible debentures. The micro financier has also approved the appointment of its chief financial officer.
Sun Pharmaceuticals Industries rose 0.06% to Rs 1,495.70. The company successfully completed the merger of Taro Pharmaceutical Industries with its subsidiary company. As part of this merger, Sun Pharma acquired all outstanding ordinary shares of Taro other than those already held by Sun Pharma or its affiliates.
Numbers to Track:
The yield on India's 10-year benchmark federal rose 0.06% to 6.975 as compared with previous close 6.971.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.4700, compared with its close of 83.4775 during the previous trading session.
MCX Gold futures for 5 August 2024 settlement shed 0.16% to Rs 71,677.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 105.44.
The United States 10-year bond yield declined 0.33% to 4.235.
In the commodities market, Brent crude for August 2024 settlement lost 5 cents or 0.06% to $85.96 a barrel.
Global Markets:
Asian shares traded higher on Tuesday, with investor eyes set on Friday's crucial U.S. inflation data. The upcoming U.S. presidential debate on Thursday and the first French election round this weekend are also adding to the cautious sentiment, as investors weigh potential political impacts on their holdings.
Wall Street closed with mixed results overnight. The Nasdaq suffered a significant drop of over 1%, led by a 7% plunge in AI leader Nvidia. This decline suggests investors are shifting out of technology stocks for now. However, the Dow Jones bucked the trend, climbing 0.7% to reach a one-month high. The S&P 500 ended slightly lower, down 0.31%.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
