At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 137.12 points or 0.24% at 57,026.28. The Nifty 50 index was up 37.35 points or 0.22% at 16,968.20.
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 0.45% while the S&P BSE Small-Cap index surged 0.73%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1603 shares rose and 1243 shares fell. A total of 144 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:
The Nifty Auto index was down 0.23% to 9,934.5, snapping its two day winning run. The index rose 2% in the past two sessions.
Tata Motors (down 1.75%), Mahindra & Mahindra (down 0.97%), Motherson Sumi Systems (down 0.87%) and Hero MotoCorp (down 0.74%), Escorts (down 0.62%) and Balkrishna Industries Ltd (down 0.37%) were the top losers.
TVS Motor Company rose 1.38% to Rs 527 after the company announced the launch of TVS 'Built To Order' platform, marking its foray into the factory customisation and personalisation platform. The new business vertical, the TVS BTO platform will empower the customers to customise and personalise their vehicles when making a purchase, which will be built directly at the factory as per their requirement. TVS said this further strengthens the company's commitment to introducing first-in-class technologies and class-leading features in the segment.
Stocks in Spotlight:
Jindal Steel & Power (JSPL) fell 0.65%. The company said that its board has approved a plan to raise up to $1 billion by issuing bonds denominated in foreign currency or rupee in one or more tranches. The bonds will be non-convertible, senior, unsecured, fixed/LIBOR rate notes.
NHPC rose 1.13% to Rs 26.95 after the company informed that the commercial operation of unit-3 of Bairasiul Power Station in Himachal Pradesh shall start from 31 August 2021. The unit-3 (60 MW) of the Bairasiul Power Station (3X60 MW) in Himachal Pradesh has been tested and commissioned after completion of renovation and modernization works.
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