Sensex rises 270 pts, Nifty above 18K; breadth strong

The benchmark indices hit fresh intraday high in afternoon trade, boosted by IT stocks. The Nifty continued to trade above 18,000 level.

At 13:30 IST, the barometer index, the S&P BSE Sensex, advanced 270.29 points or 0.45% at 60,665.92. The Nifty 50 index gained 69.50 points or 0.39% at 18,072.80.

Reliance Industries (RIL) (up 1.09%), Housing Development Finance Corporation (HDFC) (up 1.50%) and HCL Technologies (up 3.92%) boosted the indices.

Broader markets extended minor gains. The S&P BSE Mid-Cap index rose 0.30%. The S&P BSE Small-Cap index added 0.74%.

Buyers outnumbered the sellers. On the BSE, 2,136 shares rose and 1,256 shares fell. A total of 75 shares were unchanged.

COVID-19 Update:

India reported 1,68,063 new cases in the last 24 hours. The daily positivity rate stood at 10.64%. The country`s active caseload currently stands at 8,21,446. Active cases stands at 2.29% and recovery rate currently stands at 96.36%. There were 69,959 recoveries in the last 24 hours, which increases total recoveries to 3,45,70,131.

Economy:

The employment across nine sectors of the economy stood at 3.10 crore in the July-September 2021 quarter, increasing by 2 lakh from the July-September 2021 quarter, according to labour ministry data released Monday. As per Quarterly Employment Survey (QES) report released by minister Bhupender Yadav, the total employment in 9 sectors in April-June 2021 was 3.08 crore. Of the total employment estimated in the selected nine sectors, Manufacturing accounted for nearly 39%, followed by Education with 22% and Health as well as IT/BPOs sectors both around 10%.

Gainers & Losers:

HCL Technologies (up 3.90%), Housing Development Finance Corporation (HDFC) (up 1.50%), Divi`s Laboratories (up 1.30%), Grasim Industries (up 1.25%) and Reliance Industries (RIL) (up 1.12%) were major gainers in Nifty 50 index.

Tata Steel (down 2.23%), JSW Steel (down 2.19%), Bharat Petroleum Corporation (BPCL) (down 0.97%), Coal India (down 0.96%) and Bharti Airtel (down 0.84%) were major losers in Nifty 50 index.

Stocks in Spotlight:

Antony Waste Handling Cell rose 1.62%. The total operating revenue of Antony Waste Handling Cell (tipping revenue from C&T, mechanical power sweeping and waste processing) for Q3 FY22 grew about 22% Y-o-Y (year-on-year), while remaining stable on a sequential basis. The total tonnage handled by the collection & transportation business (excluding those projects with fixed shifts/ trips/ households) in Q3 FY22 has reported around 13% growth over Y-o-Y (year-on-year) and around 3% growth sequentially, while total waste processed by the company during Q3 FY22, improved by around 6% Y-o-Y and around 4% sequentially. Total compost sales during Q3 FY22 stood at 3,144 tons as compared to 2,908 tons in Q2 FY22 and 2,291 tons in Q3 FY21.

JSW Ispat Special Products fell 0.66%. The company`s crude steel production increase by 43% to 0.14 million tonnes (MT) in Q3 FY22 from 0.10 MT in Q3 FY21. The steel production is higher by 14% as compared with 0.13 MT produced in Q2 FY22.

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