The benchmark indices trimmed gains in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 357.33 points or 0.71% at 50,994.86. The Nifty 50 index gained 87.35 points or 0.57% at 15,295.80. Encouraging Q4 earnings and positive global cues boosted investors sentiment.
Infosys (up 1.88%), HDFC (up 0.93%) and TCS (up 1.01%) supported the indices.
In the broader market, the S&P BSE Mid-Cap index rose 0.08% and the S&P BSE Small-Cap index added 0.78%.
Buyers outpaced sellers. On the BSE, 1,946 shares rose and 1,070 shares fell. A total of 125 shares were unchanged.
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 2021, provisional data showed.
The key barometers hit a fresh intraday high in early afternoon trade, tracking positive Asia cues. The Nifty index traded above 15,300 level. IT stocks rallied while metal stocks corrected.
At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 386.43 points or 0.76% at 51,023.96. The Nifty 50 index gained 99.70 points or 0.66% at 15,308.15.
In the broader market, the S&P BSE Mid-Cap index rose 0.25% while the S&P BSE Small-Cap index added 0.87%.
The market breadth was strong. On the BSE, 1,968 shares rose and 974 shares fell. A total of 138 shares were unchanged.
Derivatives:
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, fell 0.65% to 18.72. The Nifty 27 May 2021 futures were trading at 15,299.90, at a discount of 8.25 points as compared with the spot at 15,308.15.
Odisha, West Bengal and Andhra Pradesh are on alert with the IMD saying that the cyclonic storm Yaas is going to intensity into a 'very severe cyclonic storm' in the next few hours. Cyclone Yaas is likely to cross north Odisha-West Bengal coasts between Paradip and Sagar Island around Balasore, during noon of May 26. Here are Live Updates.
A depression in east central Bay of Bengal is very likely to intensify into a very severe cyclonic storm with a possible wind speed of 155 kmph to 165 kmph and make landfall on May 26 evening between Paradip in Odisha and Sagar island in West Bengal, the Met department said on Sunday. The system, which lays 670 km south-southeast of Digha in West Bengal and 590 km east-southeast of Paradip, will cause heavy to very heavy rain in the coastal and interior districts of the two states as it progresses, said Sanjib Bandopadhyay, the deputy director of the Regional Met Centre in Kolkata. The depression will intensify into a cyclonic storm by May 24 morning and move in a north-northwesterly direction.