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Sensex, Nifty trade with small gains

Capital Market 

The main indices traded with small gains in mid-afternoon trade. The Nifty traded above 16,550 level. Sugar, IT and pharma stocks saw buying while banks and financial shares were under pressure.

At 14:20 IST, the barometer index, the S&P BSE Sensex, rose 53.49 points or 0.1% at 55,636.18. The Nifty 50 index gained 12 points or 0.07% at 16,575.25.

Meanwhile, the Sensex hit a record high of 55,688.50 while Nifty hit a record high of 16,591.40 in early trade.

The broader indices traded higher. The S&P BSE Mid-Cap index rose 0.33% while the S&P BSE Small-Cap index gained 0.17%.

Sellers outnumbered buyers. On the BSE, 1039 shares rose and 2,087 shares fell. A total of 119 shares were unchanged.

IT major TCS was up 2.21% at Rs 3548.35.

The stock hit a record high of Rs 3,560 in intraday today. The company's current market capitalisation stood at Rs 13,11,961.05 crore.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 20,78,67,008 with 43,71,589 deaths. India reported 3,69,846 active cases of COVID-19 infection and 4,32,079 deaths while 3,14,48,754 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

More than 88.13 lakh vaccine doses were administered in the last 24 hours. 55.47 crore vaccine doses have been administered so far under nationwide vaccination drive. India reports 25,166 new cases in last 24 hours, lowest in 154 days. Active cases constitute 1.15% of total cases, lowest since March 2020. India's Active caseload currently 3,69,846, lowest in 146 days. Recovery rate currently at 97.51%, highest since March 2020.

Buzzing Segment:

Shares of sugar companies rallied on media reports that the Indian Sugar Mills Association (ISMA) wrote to Prime Minister's Office to increase prices.

Sakthi Sugars (up 3.83%), Balrampur Chini Mills (up 3.29%), Shree Renuka Sugars (up 3.29%), Dhampur Sugar Mills (up 2.32%), Triveni Engineering (up 1.32%) and EID Parry (up 0.51%) advanced.

According to the media reports, the Indian Sugar Mills Association (ISMA) has written to the Prime Minister's Office (PMO) to immediately increase the Minimum Sale Price (MSP) of sugar from the current Rs 31 per kg to at least Rs 34-35 per kg to help it clear the pending sugarcane dues ahead of the new crushing season that will start from October 2021.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee fell to 74.3025 from its previous closing of 74.2475.

MCX Gold futures for 5 October 2021 settlement rose 0.41% to Rs 47,419.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 92.64.

The yield on 10-year benchmark federal paper fell to 6.233% from its previous close of 6.241%.

In the commodities market, Brent crude for October 2021 settlement declined 43 cents or 0.62% to $69.08 a barrel.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, August 17 2021. 14:28 IST