At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 242.58 points or 0.55% at 44,319.74. The Nifty 50 index was up 74.65 points or 0.58% at 13,001.40.
The Sensex hit a record high of 44,499.62 while the Nifty hit a record high of 13,048.75 in morning session today.
In broader market, the S&P BSE Mid-Cap index was up 0.39% while the S&P BSE Small-Cap index was rallied 0.7%.
The market breadth was positive. On the BSE, 1420 shares rose and 1017 shares fell. A total of 187 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 4,738.44 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,944.05 crore in the Indian equity market on 23 November, provisional data showed.
Economy:
Finance minister Nirmala Sitharaman said the momentum of reforms has continued even during the pandemic and this will continue in future as well. Sitharaman was speaking at the National MNCs' Conference 2020 organised by Confederation Of Indian Industry (CII). She added that six states were setting up special manufacturing zones for pharmaceuticals, medical devices and active pharmaceutical ingredients with an effective, unified single window. Today not just the MNC's, but the entire industry & the economy is facing a reset exercise of doing business and this is being further strengthened by the Govt's Atmanirbhar Bharat program, FM stated.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 59,128,645 with 13,95,658 deaths.
India reported 4,38,667 active cases of COVID-19 infection and 134,218 deaths while 86,04,955 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty Bank index jumped 2.03% to 29,614.75, bouncing from yesterday's 0.72% decline. The index trades 10% away from its record high level of 32,613 hit on 30 December 2019.
RBL Bank (up 4.54%), HDFC Bank (up 2.88%), Axis Bank (up 2.5%), Kotak Mahindra Bank (up 2.11%), ICICI Bank (up 1.83%), SBI (up 1.53%) and Bandhan Bank (up 1.24%) were top gainers in banking space.
Stocks in Spotlight:
Tube Investments of India rose 1.68%. In a BSE filing made after market hours on Monday, the company said its board will meet on Thursday (26 November 2020) to consider fund raising including through issue of capital by way of preferential issue of eligible securities to eligible investors.
Ingersoll-Rand (India) lost 5.35% as the offer for sale (OFS) opened for non-retail investors today.
The company proposes to sell up to 14,25,798 equity shares (representing up to 4.52% of the total issued and paid-up equity share capital of the company on 24 November and 25 November 2020. The floor price for the sale shall be Rs 578.60 per equity share.
Jubilant Industries surged 6.42% after the company said it has executed an agreement to sell its portable liquor license for manufacturing of Indian Made Foreign Liquor on 23 November 2020. Consequently, the company shall no longer be manufacturing Indian Made Foreign Liquor.
Global Markets:
Asian stocks were trading higher on Tuesday as investors in the region react to more positive coronavirus vaccine news.
Meanwhile, the Trump administration has begun the transition process to President-elect Joe Biden, making federal resources available for his transition into office.
Biden is expected to nominate former Federal Reserve Chair Janet Yellen as U.S. Treasury secretary, breaking a 231-year gender barrier and putting a seasoned economist and labor market expert in charge of leading the country out of the steepest downturn since the Great Depression.
In US, stocks rose on Monday after AstraZeneca and the University of Oxford said their coronavirus vaccine was up to 90% effective, becoming the third inoculation this month that was revealed to be effective in trial data.
In economic data, IHS Markit said their U.S. manufacturing and services purchasing managers' indexes hit multiyear highs. The flash U.S. services index rose to 57.7, its highest level in more than five years. The manufacturing PMI popped to 56.7, its highest level in over six years.
Meanwhile, UK Prime Minister Boris Johnson announced Monday the country's national lockdown would end on December 2 with certain conditions in place.
Powered by Capital Market - Live News