Market trading firm in early trade

Local indices are trading on a firm note in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 234.60 points or 0.49% at 48,408.66. The Nifty 50 index was up 74.80 points or 0.53% at 14,221.05.

The S&P BSE Mid-Cap index was up 1.01%. The S&P BSE Small-Cap index was up 1.05%.

The market breadth, indicating the overall health of the market, is strong. On the BSE, 1769 shares rose and 368 shares fell. A total of 79 shares were unchanged.

Stocks in news:

Maruti Suzuki India rose 0.4%. Maruti Suzuki India said total production increased to 1.55 lakh vehicles in December 2020, from 1.15 lakh vehicles in December 2019.

Lupin rose 0.59%. Lupin announced that it has received approval for its Sulfamethoxazole and Trimethoprim Oral Suspension USP, 200 mg/40 mg per 5 mL, from the United States Food and Drug Administration, to market a generic equivalent of Bactrim Oral Suspension, 200 mg/40 mg per 5 mL, of Sun Pharmaceutical Industries, Inc.

Dixon Technologies (India) gained 3.82%. Dixon Technologies (India) has entered into an agreement with Imagine Marketing Private ('boAt') for Manufacturing of Twin wireless speakers. The manufacturing will take place from the company's manufacturing facility located at Noida, Uttar Pradesh.

Shares of Wendt (India) dropped 4.84% to Rs 2,954.50. Carborundum Universal and Wendt GmBH (the Sellers) propose to sell up to an aggregate of 94,704 equity shares of Wendt (India) (representing 4.74% of the total issued and paid-up Equity Share capital) on January 07, 2021 and on January 08, 2021. The floor price for the sale is Rs 2,200 per share.

Ramco Systems gained 2.68%. Ramco Systems announced that it will implement its Aviation M&E MRO Suite v5.8 for America's leading Heli Operator and Maintenance, Repair and Overhaul (MRO) player, Construction Helicopters Inc. (CHI Aviation), part of Heligroup Inc. and its four operating and three asset-holding entities in the U.S.

Global Markets:

Overseas, Asian stocks are trading mixed on Thursday after the Dow Jones Industrial Average surged to an all-time high overnight despite unrest in Washington.

In US, the Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.

Stocks closed off their highs as pro-Trump rioters stormed the U.S. Capitol and caused Congress to suspend proceedings to confirm the election of Joe Biden as president. The Capitol was finally secured late Wednesday afternoon, and Congress resumed the process of counting electoral votes and confirming President-elect Joe Biden's victory.

Back home, market ended with modest losses on Wednesday. The barometer index, the S&P BSE Sensex, dropped 263.72 points or 0.54% at 48,174.06. The Nifty 50 index slipped 53.25 points or 0.38% at 14,146.25.

Foreign portfolio investors (FPIs) sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 380.41 crore in the Indian equity market on 6 January, provisional data showed.

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