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 258.81 points or 0.55% at 47,612.56. The Nifty 50 index was up 65.95 points or 0.48% at 13,939.15. The Sensex scaled record high above 47,650 mark in early trade. The Nifty also hit record high above 13,950 mark. Positive Asian stocks boosted sentiment.
The S&P BSE Mid-Cap index was up 0.42%. The S&P BSE Small-Cap index was up 0.64%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1477 shares rose and 612 shares fell. A total of 107 shares were unchanged.
Stocks in news:
HDFC Bank rose 0.81%. The board of directors of HDFC Bank has recommended the appointment of the part-time chairperson of the bank and has submitted its recommendation to the Reserve Bank of India for approval. The tenure of the existing part-time chairperson of the bank, Shyamala Gopinath, shall end at the close of business hours of 1 January 2021, pursuant to the tenure approved by the Reserve Bank of India.
Titan Company rose 0.31%. Titan Company intimated that the authorised Committee of the Board of the Company has given its approval to provide corporate guarantees aggregating to Rs. 906 crore to various banks on behalf of Titan Commodity Trading, a wholly owned subsidiary of the Company.
Biocon rose 1.07%. Biocon announced the launch of Tacrolimus capsules in the US. Tacrolimus, a calcineurin inhibitor, is an immunosuppressant used in the treatment of organ transplant patients, which reduces the body's ability to reject a transplanted organ. It has been particularly effective in treating patients of renal transplant for more than two decades.
TVS Motor Company advanced 0.87%. TVS Motor Company introduced the 2021 TVS Apache RTR 160 4V with Bluetooth enabled TVS SmartXonnect in Bangladesh. This is the first-of-its-kind two-wheeler connected cluster technology in the country.
The Great Eastern Shipping Company rose 1.56%. The company delivered its 2000 built Suezmax Crude Carrier Jag Lateef to the buyers. The vessel was contracted for sale in November 2020.
AU Small Finance Bank rose 0.67%. AU Small Finance Bank announced its partnership with ICICI Prudential Life Insurance, one of the top Private Life Insurance companies to offer customised, need and goal-based Life Insurance solution.
Global Markets:
Overseas, Asian stocks are trading higher on Tuesday, as hopes that a long-awaited U.S. pandemic relief package would be expanded and a Brexit trade deal supported investor risk appetites.
In US, stocks rallied on Monday, with each of Wall Street's main indexes closing at record levels as President Donald Trump's signing of a long-awaited $2.3 trillion pandemic aid bill increased optimism for an economic recovery.
Back home, the domestic equity benchmarks ended near the day's high on Monday, supported by positive global cues. The barometer index, the S&P BSE Sensex, rose 380.21 points or 0.81% to 47,353.75. The Nifty 50 index added 123.95 points or 0.90% to 13,873.20.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,588.93 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,386.55 crore in the Indian equity market on 28 December, provisional data showed.
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