Nifty trades above 15,700; breadth strong

Equity indices extended early gains and hit fresh intraday high in morning trade. The Nifty scaled the 15,700 mark and traded higher. All the sectoral indices on the NSE were in the green. Upbeat Asian stocks boosted sentiment.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 218.25 points or 0.42% at 52,159.16. The Nifty 50 index gained 76.20 points or 0.49% at 15,711.10.

In the broader market, the S&P BSE Mid-Cap index was up 0.88% while the S&P BSE Small-Cap index was up 1.55%.

The market breadth was robust. On the BSE, 2254 shares rose and 560 shares fell. A total of 109 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 174,326,389 with 3,755,587 global deaths.

India reported 11,67,952 active cases of COVID-19 infection and 359,676 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Results Today:

Century Plyboards (up 0.56%), GE T&D (up 0.79%), NHPC (up 1.32%), Ambika Cotton (up 0.25%), Cera Sanitaryware (up 0.98%), eClerx Services (up 2.81%), Mazagon Dock Shipbuilders (up 2.06%) and Tide Water Oil (up 2.3%) will announce their quarterly earnings today.

Buzzing Index:

The Nifty Pharma index gained 1.43% to 14,321.35 and was a top gainer on NSE Sectoral indices.

Divi's Laboratories (up 2.73%), Biocon (up 1.85%), Torrent Pharmaceuticals (up 1.71%), Cipla (up 1.55%), Lupin (up 1.22%), Sun Pharmaceutical Inds (up 1.09%) and Dr. Reddy's Lab (up 1.01%) advanced.

Stocks in Spotlight:

Affle (India) gained 1.85% to Rs 5,339 after the company through its subsidiaries announced that it has approved 100% acquisition of Jampp, a leading programmatic mobile marketing company. The company will pay a total consideration of $41.3 million, (including the contingent incremental consideration of $15 million to be paid over a period of 3 years). The company will acquire 100% equity and Tech IP assets ownership. Affle further said the acquisition is strategic as it complements company's platforms, business & culture and offers a strategic market mix to achieve greater scale in LATAM, US and other global markets. It further strengthens company's CPCU business model, enabling ROI-driven app engagements for the advertisers globally.

TCI Express rose 0.82%. The company announced that its new sorting centre at Pune has become operational after receiving relevant regulatory approvals. The 1.5 lakh sq.ft. Pune sorting centre, optimally located at Chakan, will be having 50 loading docks and will augment the Company's service in the western region. This is a new milestone for the company and will offer clear advantage in terms of operational efficiency, service reliability, higher utilization and shorter turnaround time, along with business operations expansion.

Powered by Capital Market - Live News