At 11:23 IST, the barometer index, the S&P BSE Sensex, was up 5.37 points or 0.01% at 52,704.46. The Nifty 50 index rose 11.75 points to 15,802.20.
In broader market the S&P BSE Mid-Cap index was up 0.83% while the S&P BSE Small-Cap index gained 0.47%.
The market breadth was positive. On the BSE, 1655 shares rose and 1286 shares fell. A total of 149 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,890.94 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,138.76 crore in the Indian equity market on 24 June, provisional data showed.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 179,942,690 with 3,898,983 global deaths.
India reported 612,868 active cases of COVID-19 infection and 393,310 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty IT index gained 0.38% to 29,159.30. The index has risen 3% in two days.
Coforge (up 1.81%), Tech Mahindra (up 1.35%), Mphasis (up 1.22%), HCL Tech (up 1.04%) and L&T infotech (up 0.71%) advanced.
Stocks in Spotlight:
Mishra Dhatu Nigam (MIDHANI) rose 0.59%. The company reported 86.1% jump in consolidated net profit to Rs 74.71 crore on 67.4% rise in net sales to Rs 340.01 crore in Q4 FY21 over Q4 FY20. Profit before tax in Q4 FY21 stood at Rs 101.53 crore, up 82.3% from Rs 55.70 crore in Q4 FY20. Current tax outgo increased by 75.6% YoY to Rs 26.90 crore during the quarter. The order book position as on 1 April 2021 stood at Rs 1353 crore.
PTC India fell 0.24%. The company reported 54.5% jump in standalone net profit to Rs 99.13 crore on 4.1% rise in net sales to Rs 3,328.62 crore in Q4 FY21 over Q4 FY20. The company's volumes have increased by 36% to 16.279 billion units (BUs) in Q4 FY21 from 12.002 BUs in Q4 FY20. Operating margin from trading has increased 25% to Rs 53.67 crore in Q4 FY21 from Rs 42.99 crore in Q4 FY20. Profit before tax in Q4 FY21 stood at Rs 106.16 crore, up 23.4% from Rs 86.05 crore in Q4 FY20.
Global Markets:
Asian stocks were trading higher after U.S. shares hit a record on a bipartisan $579 billion U.S. infrastructure deal that stoked economic optimism.
U.S. stocks jumped to session highs, with the S&P 500 and Nasdaq reaching a record, Thursday after President Joe Biden declared that the White House struck an infrastructure deal with a bipartisan group of senators.
The infrastructure deal will include $579 billion in new spending, the White House said. Republicans have fought the president's proposal to hike the corporate tax rate to 28% from 21%.
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