At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 56.55 points or 0.13% at 44,579.90. The Nifty 50 index was up 21.7 points or 0.17% at 13,076.40.
The Sensex hit a record high of 44,825.37 while Nifty scaled fresh high of 13,145.85 in early deal today.
The broader market lagged the benchmark indices. The S&P BSE Mid-Cap index was down 0.3% while the S&P BSE Small-Cap index fell 0.13%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1294 shares rose and 983 shares fell. A total of 120 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 59,679,996 with 14,07,873 deaths.
India reported 4,44,746 active cases of COVID-19 infection and 134,699 deaths while 86,42,771 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty Metal index gained 1.11% to 2,870.60. The index has added 4.28% in four days.
Vedanta (up 1.55%), Jindal Steel & Power (up 1.49%), Hindalco Industries (up 1.33%), NMDC (up 1.23%), Tata Steel (up 1.16%), JSW Steel (up 0.65%), Coal India (up 0.45%) and National Aluminium Company (up 0.14%) were top gainers in metal space.
Stocks in Spotlight:
Union Bank of India rose 3.11% to Rs 26.50 after the bank said that it will raise up to Rs 1000 crore via issue of debt securities. In a BSE filing made after market hours on Tuesday (24 November 2020), the state-run lender said that it is issuing Basel III compliant Tier II bonds in the nature of debentures with the aggregate issue size not exceeding Rs 1,000 crore, having a base issue size of up to Rs 500 crore and a Green Shoe option to retain oversubscription up to Rs 500 crore. The bonds of face value of Rs 10 lakh each, bearing a coupon of 7.18% per annum, will have maturity of 15 years. The deemed allotment date of the bonds is 26 November 2020, it added.
Larsen & Toubro rose 0.39%. The EPC major announced that its construction arm, L&T Construction has secured a 'large' contract to construct India's longest road bridge across river Brahmaputra connecting Dhubri in Assam to Phulbari in Meghalaya. As per the L&T's classification, the valuation of the 'large' order is between Rs 2500 crore to Rs 5000 crore.
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