Domestic equity barometers were trading higher in early afternoon trade. The moderation in daily new COVID-19 cases in India improved risk sentiments. The Nifty index hovered tad above 15,200 mark.
At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 140.06 points or 0.28% at 50,680.54. The Nifty 50 index gained 32.50 points or 0.21% at 15,207.80.
In the broader market, the S&P BSE Mid-Cap index rose 0.98% while the S&P BSE Small-Cap index gained 0.82%.
The market breadth was strong. On the BSE, 1,909 shares rose and 1,108 shares fell. A total of 184 shares were unchanged.
Derivatives:
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, rose 0.64% to 19.2025. The Nifty 27 May 2021 futures were trading at 15,212.35, at a premium of 4.55 points compared with the spot at 15,207.80.
Equity indices ended with small gains on Monday, supported by firmness in banks stocks. The Nifty closed below the 15,200 mark after trading above that level for most part of the session. The moderation in daily new COVID-19 cases in India improved risk sentiments. Barring FMCG and metal, all the sectoral indices on the NSE ended in the green.
The barometer index, the S&P BSE Sensex, rose 111.42 points or 0.22% at 50,651.90. The Nifty 50 index gained 22.40 points or 0.15% at 15,197.70.
State Bank of India (up 2.73%), Larsen & Toubro (up 1.74%) and Axis Bank (up 1.40%) supported the indices.
The broader market outperformed the benchmark indices. The BSE Mid-Cap index added 0.86% and the BSE Small-Cap index rose 0.70%.
Read more about Marcellus Investment Managers trims stake in Music Broadcast on Business Standard. As per the bulk deal data on the NSE, Marcellus Investment Managers sold 31,29,319 equity shares, or 0.91% equity, at Rs 23.14 per share of Music Broadcast on Friday, 21 May 2021.
NEW DELHI: Saurabh Mukherjea, Dalal Street s most vocal proponent of the consistent compounding style of investing, is hoping that his latest midcap pick from the in-vogue speciality chemicals space will turn out to be a multibagger.
Listed in July 2018 at Rs 815, a 4 per cent premium over its IPO price, the stock of this Mumbai-based chemical manufacturer has already given nearly 280 per cent return in less than 3 years.
A debt-free company, it has seen revenue grow at a CAGR of 11 per cent from FY13-20, while its Ebitda has expanded at a CAGR of 25 per cent during this period. Operating margins expanded faster due to scale benefits and an improving product mix. Over the last five years, the company has been able to maintain an average ROE at 26 per cent and ROCE at 31 per cent.