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 271.94 points or 0.52% at 52,823.47. The Nifty 50 index was up 72.95 points or 0.46% at 15,884.80. Asian stocks are trading mixed.
The S&P BSE Mid-Cap index was up 0.42%. The S&P BSE Small-Cap index was up 0.67%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1918 shares rose and 581 shares fell. A total of 87 shares were unchanged.
Consumer Price Index-based inflation (CPI) for the month of May came in at 6.30%, higher than April's 4.23%. The higher inflation month-on-month was primarily on the back of a substantial hardening of food prices.
Stocks in news:
Coal India rose 0.10%. Coal India reported 1.1% fall in consolidated net profit to Rs 4,586.78 crore on 5.11% fall in total income to Rs 27,974.12 crore in Q4 FY21 over Q4 FY20.
NHPC rose 0.74%. NHPC has signed a Memorandum of Understanding (MoU) with Bihar State Hydro-Electric Power Corporation (BSHPCL) for execution of Dagmara HE Project (130.1 MW) in the State of Bihar by NHPC on ownership basis.
Sagar Cements jumped 15.74%. Sagar Cements said that a meeting of the board of directors of the company will be held on 1 July 2021, to consider a proposal to sub-divide (split) the face value of the equity shares of the company.
JSW Ispat Special Products lost 4.97% to Rs 54.50. Promoter AION Investments Private II to sell up to 9.94 crore shares, representing 21.18% of the total equity share capital through an offer for sale. The floor price of Rs 27 per share. The OFS opens for non-retail investors today and for retail investors tomorrow.
Satin Creditcare Network surged 7.9% after the company reported 189.14% surge in consolidated net profit to Rs 37.82 crore on 0.79% fall in total income to Rs 406.04 crore in Q4 FY21 over Q4 FY20.
Uttam Sugar Mills rose 0.08%. Uttam Sugar Mills reported 20.33% fall in standalone net profit to Rs 27.83 crore on 0.27% fall in total income to Rs 557.05 crore in Q4 FY21 over Q4 FY20.
Global Markets:
Asian stocks are trading mixed on Tuesday after their U.S. peers closed at a record on Monday ahead of a key Federal Reserve meeting.
The Nasdaq Composite jumped to a record high on Monday as investors rotated back into growth-oriented stocks ahead of a key Federal Reserve meeting. Overnight on Wall Street, the Nasdaq Composite gained 0.74% to an all-time closing high of 14,174.14. The S&P 500 also cruised to another record close, rising 0.18% to 4,255.15. The Dow Jones Industrial Average lagged, dipping 85.85 points to 34,393.75.
The Fed's two-day policy meeting will likely dominate investor behavior this week. Although the central bank is not expected to take any action, its forecasts for interest rates, inflation and the economy could move the markets. Fed Chairman Jerome Powell will speak to the press after the central bank issues its statement Wednesday.
Back home, the domestic equity benchmarks ended a roller-coaster session with minor gains on Monday. The barometer index, the S&P BSE Sensex, added 76.77 points or 0.15% to 52,551.53. The Nifty 50 index advanced 12.50 points or 0.08% to 15,811.85.
Foreign portfolio investors (FPIs) sold shares worth Rs 503.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 544.26 crore in the Indian equity market on 14 June, provisional data showed.
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