Sensex trading with small gains; breadth strong

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Key benchmark indices are trading with small gains in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 42.81 points or 0.08% at 50,680.34. The Nifty 50 index was up 3.65 points or 0.02% at 15,212. Most Asian stocks are trading higher.

The S&P BSE Mid-Cap index was down 0.3%. The S&P BSE Small-Cap index was up 0.48%.

The market breadth, indicating the overall health of the market, is strong. On the BSE, 1559 shares rose and 699 shares fell. A total of 101 shares were unchanged.

Stocks in news:

PNB Housing Finance rose 1.45%. PNB Housing Finance informed that the meeting of the board of directors of the company is scheduled on 31 May 2021 to consider and approve fund raising.

Computer Age Management Services (CAMS) rose 1.05% after the company’s consolidated net profit increased 39.6% to Rs 6.13 crore on 14.3% rise in revenue from operations to Rs 199.77 crore in Q4 FY21 over Q4 FY20.

AstraZeneca Pharma India rose 1.36% after the company’s net profit surged 184.95% to Rs 27.27 crore on 7.88% increase in revenue from operations to Rs 210.25 crore in Q4 March 2021 over Q4 March 2020.

Hinduja Global Solutions fell 0.49%. Hinduja Global Solutions announced that it is looking to hire up to 250 remote customer service representatives in Quebec to support its ongoing growth of its Canadian entity.

Zuari Agro Chemicals rose 1.93%. Zuari Agro Chemicals informed that the damages caused by Cyclone – Tauktae to the fertilizer plant at Goa including loss due to material lost is approx. Rs. 2.5 crore.

Bodal Chemicals rose 0.83%. Bodal Chemicals informed that PT BODAL CHEMICALS INDONESIA has been incorporated in Jakarta, Indonesia as a Wholly Owned Subsidiary Company of Bodal the company. Main objective is trading (including wholesale trade) of dyes and other related chemicals and basic chemicals ingredients.

PG Electroplast rose 2.6%. PG Electroplast has enabled resolutions to raise Rs 76.6 crore from investors. Baring Private Equity India AIF, Ananta Capital (promoted by the Taparia Family) and the Patni family office are participating through preferential allotment of equity shares of Rs 40.30 crore and Compulsorily Convertible Debentures (CCD) of Rs 36.30 crore in the company.

Global Markets:

Overseas, most Asian stocks are trading higher on Wednesday, with multiple markets in Southeast Asia closed for a holiday. In Southeast Asia, markets in Indonesia, Singapore and Thailand are closed for a holiday on Wednesday.

U.S. stocks closed slightly lower on Tuesday following a rally in the prior session as investors continue to try and assess the route of inflation.

Back home, the benchmark indices settled near the flat line on Tuesday. The barometer index, the S&P BSE Sensex, fell 14.37 points or 0.03% at 50,637.53. The Nifty 50 index gained 10.75 points or 0.07% at 15,208.45.

Foreign portfolio investors (FPIs) bought shares worth Rs 959.77 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 563.59 crore in the Indian equity market on 25 May, provisional data showed.

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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: Wed, May 26 2021. 09:38 IST