Domestic benchmark indices bounced back and traded with minor gains in mid morning trade. The Nifty reclaimed the crucial 14,900 mark. Bank, financial and IT stocks saw buying while metals and PSU bank shares corrected. Investors remained cautious ahead of U.S. Federal Reserve s two-day policy meeting which will conclude later in the day.
At 11:27 IST, the barometer index, the S&P BSE Sensex, rose 81.25 points or 0.16% at 50,435.15. The Nifty 50 index was up 6.8 or 0.05% at 14,917.20.
In the broader market, the S&P BSE Mid-Cap index tumbled 0.86% while the S&P BSE Small-Cap index was down 0.45%.
Sellers outpaced buyers. On the BSE, 1014 shares rose and 1615 shares fell. A total of 148 shares were unchanged.
ABB Power Products and Systems India has been awarded a project worth over Rs 124 crore by one of India s top aluminum producers, Bharat Aluminum Company (BALCO), to ensure improved reliability of the power distribution system at its Korba plant in Chhattisgarh.
The technology pioneer is delivering fully engineered 400-kilovolt gas-insulated switchgear (GIS) substations that will replace an existing apparatus to better assimilate power from BALCO s captive generation plants, delivering it with efficiency to the Korba aluminum smelter.
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The scope includes complete Design & Engineering, Supply,
Erection and Commissioning of Alumina Handling System, for refinery expansion.
The Company continues to be actively involved in bidding for both FGD (Flue Gas Desulpharisation) and MHS (Material Handling System) projects.
In the case of FGD Projects, the company is bidding directly as well as jointly with other EPC companies and remains hopeful to win some of these projects as and when they are decided.
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fresh COVID-19 cases, 137 recoveries and one death in 24 hours ending 9 am on Wednesday. After 1.46 crore sample tests, the gross coronavirus positives went up to 8,92,522, with an overall infection positivity rate of 6.11 per cent. The recoveries rose to 8,83,642 and toll to 7,186, a health department bulletin said. The state now has 1,694 active COVID-19 cases, it said. The contagion seems to be spreading at a virulent pace, particularly in districts like Guntur, Chittoor, Visakhapatnam, Krishna and East Godavari. Guntur reported 69 fresh cases in a day, followed by Chittoor 39, East Godavari 29, Visakhapatnam 27, Kurnool 26, Anantapuramu 15, Krishna 11 and Srikakulam 10. The remaining five districts added less than seven cases each.
Indices traded sideways with decent gains in morning trade. The Nifty hovered above the crucial 15,000 mark. Metal and PSU bank stocks saw selling pressure while IT stocks advanced. Shares rose on bargain hunting after yesterday s steep correction.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 295 points or 0.59% at 50,690.92. The Nifty 50 index gained 75.35 points or 0.5% at 15,004.
In broader market, the S&P BSE Mid-Cap index was up 0.4% while the S&P BSE Small-Cap index was gained 0.52%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1476 shares rose and 1008 shares fell. A total of 138 shares were unchanged.