Sensex Nifty scale record high

Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 179.90 points or 0.35% at 51,528.67. The Nifty 50 index was up 59.25 points or 0.39% at 15,175.05. The Sensex scaled record high above 51,500 level in early trade. The Nifty also hit record high above 15,150 level.

The S&P BSE Mid-Cap index was up 0.01%. The S&P BSE Small-Cap index was up 0.29%.

The market breadth, indicating the overall health of the market, is positive. On the BSE, 1171 shares rose and 826 shares fell. A total of 83 shares were unchanged.

Stocks in news:

BPCL rose 2.01%. BPCL reported 11.89% fall in consolidated net profit to Rs 1,565.23 crore on 12.05% fall in total income to Rs 66,809.47 crore in Q3 December 2020 over Q3 December 2019.

NMDC rose 1.36%. The company reported 54.75% rise in consolidated net profit to Rs 2,157.81 crore on 42.22% rise in total income to Rs 4,460.97 crore in Q3 December 2020 over Q3 December 2019.

Reliance Industries (RIL) gained 0.77%. Future Retail jumped 8.61%. The Delhi High Court has stayed the Single Judge Bench order directing Status Quo of Future Retail (FRL) -RIL deal. As per the order issued by the court, Amazon had no reason to seek a status quo order, when it wasn't interested in the deal. The Court also observed that statutory authorities cannot be restrained in private litigation from acting in accordance with law.

Sun TV Network dropped 5.36%. The company reported 15.88% rise in consolidated net profit to Rs 445.54 crore on 15.77% rise in total income to Rs 1,059.39 crore in Q3 December 2020 over Q3 December 2019.

Torrent Pharmaceuticals lost 5.19%. The company reported 18.33% rise in consolidated net profit to Rs 297 crore on 0.79% fall in total income to Rs 2,003 crore in Q3 December 2020 over Q3 December 2019.

Global Markets:

Overseas, Asian stocks are mostly higher on Tuesday following overnight gains on Wall Street that saw the major indexes rallying to record closing highs.

In US, Wall Street reached all-time closing highs on Monday as investor optimism was stoked by prospects of a speedier economic recovery from the global health crisis, driven by increased stimulus and an accelerated vaccine rollout.

Biden has set a goal to administer at least 100 million Covid vaccine doses during his first 100 days in office, but he warned it will be very difficult to achieve herd immunity in the U.S. by the end of summer.

Back home, domestic equity benchmarks ended the session with strong gains on Monday. IT, auto and metal shares rallied while PSU banks and FMCG shares declined. The barometer index, the S&P BSE Sensex, spurted 617.14 points or 1.22% to 51,348.77. The Nifty 50 index climbed 191.55 points or 1.28% to 15,115.80.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,876.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 504.86 crore in the Indian equity market on 8 February, provisional data showed.

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