At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 88.4 points or 0.16% at 56,978.28. The Nifty 50 index was up 31.60 points or 0.19% at 16,962.20.
The Sensex hit record high of 57,124.78 while the Nifty scaled all time high of 16,995.55 in early trade.
In broader market the S&P BSE Mid-Cap index was up 0.64% while the S&P BSE Small-Cap index surged 0.77%.
The market breadth was positive. On the BSE, 1601 shares rose and 1373 shares fell. A total of 157 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 217,080,846 with 4,509,821 global deaths.
India reported 370,640 active cases of COVID-19 infection and 438,560 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
With the administration of 59,62,286 vaccine doses in the last 24 hours, India's COVID-19 vaccination coverage has surpassed the cumulative figure of 64.05 cr (64,05,28,644) as per provisional reports till 7 am today.
The recovery of 36,275 patients in the last 24 hours has increased the cumulative tally of recovered patients (since the beginning of the pandemic) to 3,19,59,680. Consequently, India's recovery rate stands at 97.53%.
Economy:
India's gross domestic product (GDP) for the April-June (Q1) quarter of the ongoing fiscal will be released today, 31 August 2021. India's GDP for the fourth quarter (Q4) of 2020-21 reported expected growth of 1.6%.
Buzzing Index:
Hospital stocks were in demand. Apollo Hospitals (up 5.66%), Max Healthcare (up 4.54%), Aster DM Healthcare (up 3.88%), Fortis Healthcare (up 3.04%) and Kovai Medical (up 2.6%) climbed.
Stocks in Spotlight:
Bank of India was down 0.66%. The state-run bank said that its capital issue committee on Monday (30 August 2021) approved the closure of qualified institutions placement (QIP) issue. The committee has determined and approved the issue price of Rs 62.89 per share for the equity shares to be allotted to the eligible qualified institutional buyers in the issue. The issue price is at a 4.99% discount to the floor price of Rs 66.19 per share.
Route Mobile gained 1.42%. Call2Connect India, a wholly-owned subsidiary of the company, promoted Shefali Sharma as the chief executive officer and also appointed Ramachandran Sivathanu as its chief operating officer, with immediate effect.
Global Markets:
Asian stocks were mixed on Tuesday, as data showed slowing Chinese factory activity growth in August.
China's factory activity grew at a slower pace in August as compared with the previous month, data released Tuesday showed. The official manufacturing Purchasing Managers' Index for August came in at 50.1, against July's reading of 50.4.
In US, the S&P 500 and Nasdaq hit record highs on Monday as technology stocks jumped after the Federal Reserve's dovish comments eased fears of a sudden tapering in monetary stimulus and boosted optimism around an economic recovery.
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