Volatility struck bourses in early trade as the key indices once again regained positive zone soon after erasing early gains. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 50.16 points or 0.1% at 50,939.92. The Nifty 50 index was up 2.90 points or 0.02% at 14,984.65.
The S&P BSE Mid-Cap index was up 0.11%. The S&P BSE Small-Cap index was up 0.27%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1180 shares rose and 889 shares fell. A total of 122 shares were unchanged.
Stocks in news:
NTPC rose 0.38%. NTPC informed that consequent upon successful commissioning, 5 MW last part capacity for 20 MW Auraiya Solar PV Project at Auraiya, UP, has been declared on Commercial Operation with effect from 20 February 2021.
Jubilant FoodWorks advanced 3.35%. Jubilant FoodWorks announced it will fully acquire Fides Food Systems Coeratief U.A., Netherlands (Fides) for an agreed investment of approximately GBP 24.80 million through its wholly owned subsidiary - Jubilant FoodWorks Netherlands B.V.
Tata Consumer Products fell 0.06%. The company has successfully completed the acquisition of 100% of the equity share capital of the Kottaram Agro Foods. Consequently, Kottaram Agro Foods has become wholly owned subsidiary of the company.
Aarti Drugs gained 1.38%. Aarti Drugs informed that Pinnacle Life Science LLC, a Wholly Owned Subsidiary of the company, incorporated at "International Free Zone Authority" (IFZA), Fujairah, UAE, has been closed / wound-up.
Narayana Hrudayalaya rose 2.47%. Narayana Hrudayalaya said that that Health City Cayman Islands (HCCI), the step-down subsidiary of the company is expanding to a new location in the Camana Bay Development area of Grand Cayman.
Overseas, Asian stocks are trading mixed on Monday as China left its benchmark lending rate unchanged over the weekend.
China kept the one-year loan prime rate (LPR) unchanged at 3.85%, largely in line with expectations. The five-year LPR was also kept steady at 4.65%. The LPR is a lending reference rate set monthly by 18 banks.
Stocks on Wall Street closed near break-even on Friday as investors sold technology shares that have rallied through the pandemic and rotated into cyclical stocks set to benefit from pent-up demand once the coronavirus pandemic is subdued.
The House of Representatives will try to pass a $1.9 trillion coronavirus relief plan before the end of February, Speaker Nancy Pelosi said Thursday. Democratic Congressional leaders may try to pass a package without votes from Republicans.
Back home, key domestic equity indices declined for fourth consecutive session on Friday, led by selling in banks and auto shares. Rising COVID-19 cases and mixed global cues triggered profit selling in domestic shares. The barometer index, the S&P BSE Sensex, dropped 434.93 points or 0.85% at 50,889.76. The Nifty 50 index lost 137.2 points or 0.91% at 14,981.75.
Foreign portfolio investors (FPIs) bought shares worth Rs 118.75 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,174.98 crore in the Indian equity market on 19 February, provisional data showed.
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