Market at day`s high; metal shares shine

The domestic equity benchmarks marched higher and hit the day`s high in morning trade. The Nifty traded near the 21,400 level after hitting the day`s low of 21,137.20 in early trade. Metal shares gained after declining in the past trading session.

At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 513.82 points or 0.73% to 70,884.37. The Nifty 50 index added 156.45 points or 0.74% to 21,395.25.

The broader market outperformed the benchmark indices. Both, the S&P BSE Mid-Cap index and the S&P BSE Small-Cap index added 1.04%.

The market breadth was strong. On the BSE, 2,359 shares rose and 1,157 shares fell. A total of 141 shares were unchanged.

Earnings Today:

Bajaj Auto (up 0.84%), Tata Steel (up 1.42%), Tech Mahindra (up 1.89%), TVS Motor Company (up 0.40%), Canara Bank (down 0.01%), DLF (up 1.05%), Indian Oil Corporation (up 1.58%), Aarti Drugs (up 0.25%), Balkrishna Industries (up 1.45%), Bharat Dynamics (up 2.36%), Birlasoft (up 1.64%), CARE Ratings (1.61%), Ceat (down 0.55%), Chalet Hotels (down 1.44%), CMS Info Systems (up 2.77%), Container Corporation of India (up 1.48%), Dalmia Bharat (1.64%), DCB Bank (up 1.44%), Exide Industries (up 1.37%), Indian Bank (down 1.60%), Indian Overseas Bank (up 2.24%), Kolte-Patil Developers (up 3.12%), Laurus Labs (up 2.32%), Motilal Oswal Financial Services (up 1.21%), PNB Housing Finance (down 1.564%), Quick Heal Technologies (up 1.49%), RailTel Corporation of India (up 2.88%), Rainbow Children`s Medicare (down 1.045%) and UCO Bank (up 1.70%) will announce their quarterly earnings later today.

Buzzing Index:

The Nifty Metal index advanced 1.50% to 7,599. The index slipped 3.38% in the past trading session.

National Aluminium Company (up 4.26%), Hindalco Industries (up 4.23%), NMDC (up 4.05%), Hindustan Copper (up 3.65%), Steel Authority of India (up 3.22%), Vedanta (up 2.68%), Tata Steel (up 1.38%), JSW Steel (up 1.05%), Jindal Steel & Power (up 0.98%) and Jindal Stainless (up 0.75%) edged higher.

Stocks in Spotlight:

Lupin rose 1.10% after the company announced that it has received tentative approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Rivaroxaban Tablets USP, 2.5 mg, 10 mg, 15 mg, and 20 mg, to market a generic equivalent of Xarelto Tablets, 2.5 mg, 10 mg, 15 mg, and 20 mg, of Janssen Pharmaceuticals, Inc. This product will be manufactured at Lupin�s Pithampur facility.

UFO Moviez India rallied 3.65% after the company announced a strategic partnership with TSR Films (TSR), a leading digital cinema integrator based out of Chennai. This strategic collaboration grants UFO Moviez exclusive advertising screen rights across TSR�s extensive network of over 403 screens.

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