The barometer index, the S&P BSE Sensex, advanced 280.75 points or 0.71% at 39,756.70. The Nifty 50 index gained 82.2 points or 0.71% at 11,729.90.
The broader market corrected. The S&P BSE Mid-Cap index slipped 0.26% while the S&P BSE Small-Cap index declined 0.59%.
Sellers overpower buyers. On the BSE, 864 shares rose and 1,521 shares fell. A total of 130 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 25,143,423 with 845,414 deaths. India reported 7,81,975 active cases of COVID-19 infection and 64,469 deaths while 27,74,801 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Unlock 4 guidelines:
Ministry of Home Affairs on Saturday released the Unlock 4 guidelines. Starting September 1, people will no longer need to get e-passes or register their details on government websites to travel anywhere within the country. Under Unlock 4, all activities and facilities except cinema halls, swimming pools, entertainment parks, theatres (excluding open air theatre) and similar places, will be allowed. It notified that schools, colleges and other educational institutions will remain closed up to September 30 in view of Covid-19 pandemic.
Economy:
The National Statistical Office (NSO) is scheduled to release its estimates of gross domestic product (GDP) for the first quarter of this fiscal on today.
The Government will also announce its fiscal deficit level for the period of April-July 2020 today. India's fiscal deficit stood at record Rs 6.62 trillion in April-June 2020-21 which is equivalent to 83.2% of the Government's budget estimate for this financial year.
The Government will announce infrastructure output data for the month of July 2020.
Stocks in Spotlight:
Reliance Industries was up 1.74%. RIL's subsidiary Reliance Retail Ventures (RRVL) said it is acquiring the retail & wholesale business and the logistics & warehousing business from the Future Group as going concerns on a slump sale basis for Rs 24,713 crore. The acquisition is subject to adjustments as set-out in the composite scheme of arrangement (Scheme). The acquisition is being done as part of the Scheme in which Future Group is merging certain companies carrying on the aforesaid businesses into Future Enterprises (FEL). RIL said that the acquisition of the retail, wholesale and supply chain business of the Future Group complements and makes a strong strategic fit into Reliance's retail business. This will help Reliance retail to accelerate providing support to millions of small merchants in increasing their competitiveness and enhance their income during these challenging times.
Cyient rose 1.50% to Rs 406.95 after the company announced that it has agreed to acquire specialist Australian consulting firm, IG Partners, to expand its end-to-end offerings for the local and regional resources sector.
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