Barometers trade with modest gains; Nifty hovers above 18,650

The key equity indices continued to trade with decent gains in morning trade amid positive global cues. The Nifty hovered above the 18,650 mark. Barring the Nifty FMCG index, all the other sectoral indices on the NSE were in the green.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 169.24 points or 0.27% to 62,702.54. The Nifty 50 index added 60.15 points or 0.32% to 18,668.15.

In the broader market, the S&P BSE Mid-Cap index rose 0.45% while the S&P BSE Small-Cap index gained 0.47%.

The market breadth was strong. On the BSE, 2,028 shares rose and 1,153 shares fell. A total of 167 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 619.92 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 36.75 crore in the Indian equity market on 13 December, provisional data showed.

Buzzing Index:

The Nifty Media index rose 1.29% to 2,170. The index has declined 0.04% in the past trading session.

Hathway Cable & Datacom (up 6.65%), Dish TV India (up 6.1%), TV18 Broadcast (up 5.56%), Network 18 Media & Investments (up 3.19%), Zee Entertainment Enterprises (up 0.38%), Sun TV Network (up 0.19%) and Inox Leisure (up 0.17%) were the gainers.

On the other hand, Saregama India (down 0.62%), Nazara Technologies (down 0.23%) and PVR (down 0.22%) edged lower.

Stocks in Spotlight:

One 97 Communications (Paytm) rose 1.84% after the company said it will undertake a buyback of up to Rs 850 crore at a maximum price of Rs 810 per share. The board has decided to opt for the open market route through stock exchanges method, which is to be completed within a maximum period of 6 months.

GMR Airports Infrastructure rose 0.12% after the company announced that its subsidiary, GMR Hyderabad International Airport (GHIAL), raised non convertible debentures (NCDs) amounting Rs 1,150 crore, on private placement basis. The company raised funds through the issuance of 10 year Listed, Rated, Redeemable, Secured Non- Convertible Debentures (NCDs). The said insrtument will be listed on BSE.

UltraTech Cement were up 0.27% The Aditya Birla Group company on Tuesday announced that it has commissioned 1.9 million tonnes per annum (mtpa) greenfield clinker backed grinding capacity at Pali Cement Works, Rajasthan. This forms part of the first phase of capacity expansion announced in December 2020, said the company.

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