Domestic equity barometers firmed up in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, rose 157.82 points or 0.34% at 46,256.83. The Nifty 50 index gained 40.15 points or 0.30% at 13,554.
The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index rose 0.82% while the S&P BSE Small-Cap index gained 0.84%.
Buyers outpaced sellers. On the BSE, 1869 shares rose and 1092 shares fell. A total of 173 shares were unchanged.
The undertone of the market was upbeat amid positive global cues following the progress in coronavirus vaccine. Robust inflows from foreign institutional investors and improving domestic economic scenario also boosted the investor's risk appetite.
COVID-19 Update:
In the United States, Centre for Disease Control (CDC) has accepted the advisory panel's recommendation for use of Pfizer-BioNTech's COVID-19 vaccine. The move will facilitate a massive vaccination campaign in the US beginning today (14 December). Healthcare workers and nursing home residents are likely to be first ones to get the shots.
Total COVID-19 confirmed cases worldwide stood at 7,22,53,804 with 16,12,367 deaths. India reported 3,52,586 active cases of COVID-19 infection and 1,43,355 deaths while 93,88,159 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India's COVID-19 recovery rate has improved to 94.98%, in the past 24 hours.
Economy:
The rate of inflation, based on monthly Wholesale Price Index (WPI), rose to 1.55% (provisional) in November 2020 (over November 2019) compared with 0.58% during the corresponding month of the previous year. The figure was 1.48% in October 2020.
Meanwhile, Industrial output of the country for the month of October this year stood at 3.6%, against 0.5% in the previous month. According to the Ministry of Statistics and Programme Implementation data released on Friday, the Index of Industrial Production (IIP) logged the highest growth since the end of March when the COVID-19 hit lockdowns came into the force.
As per the data, in October, manufacturing sector production witnessed a growth of 3.5% and electricity grew 11.2% while mining contracted 1.5%. For the same period in 2019, IIP had contracted 6.6%.
Buzzing Index:
The Nifty Realty index shed 0.51% to 291 on profit taking after four-day gaining streak. The index rose 3.56% in the past four sessions.
Omaxe (up 4.41%), Brigade Enterprises (up 1.40%), Indiabulls Real Estate (up 1.18%), The Phoenix Mills (up 1.16%) advanced while DLF (down 1.74%), Prestige Estates (down 1.62%), Sunteck Realty (down 0.75%) and Godrej Properties (down 0.59%) declined.
Stocks in Spotlight:
Astral Poly Technik rose 1.07% to Rs 1484.30 after the company said it has started commercial production of plastic water storage tanks at its Aurangabad facility.
Happiest Minds Technologies shed 0.20% to Rs 321.95. The IT firm and UK-based Enate announced partnership to accelerate the enterprise intelligent automation journey using advanced process orchestration capabilities. Enate is a robotic process orchestration (RPO) solutions company.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee edged lower to 73.57 as compared to its previous closing of 73.64.
The yield on 10-year benchmark federal paper rose to 5.943% compared with its closing of 5.956% in the previous trading session.
MCX Gold futures for 5 February 2021 settlement lost 0.92% to Rs 48,868.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, slipped 0.35% to 90.66.
In the commodities market, Brent crude for February 2020 settlement rose 65 cents to $50.62 a barrel. The contract shed 0.56% to settle at $49.97 in the previous trading session.
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