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Domestic equity benchmarks were trading with modest gains in morning trade. IT, metal and FMCG shares advanced while pharma and auto shares declined.
At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 125.17 points or 0.24% to 51,473.94. The Nifty 50 index has added 53.30 points or 0.35% to 15,169.10.
The Sensex hit a record high of 51,606.25 and the Nifty hit a record high of 15,197.80 in morning trade. Both the indices have gained over 11% in seven straight sessions.
In the broader market, the S&P BSE Mid-Cap index gained 0.34% while the S&P BSE Small-Cap index rose 0.56%.
The market breadth was positive. On the BSE, 1392 shares rose and 1068 shares fell. A total of 137 shares were unchanged.
Bharat Petroleum Corporation (BPCL) rose 2.30% to Rs 429.55 after the company s net profit surged 120.3% to Rs 2,777.62 crore on 10.7% decline in net sales to Rs 66,731.39 crore in Q3 FY21 over Q3 FY20.
The oil marketing company s other income in the third quarter was Rs 1,514.55 crore as against Rs 514.82 crore in the same period last year.
The state-owned refiner s throughput in the quarter declined 13.9% year-on-year (YoY) to 7.24 million tonne. The company s market sales in the quarter were largely flat at 11.10 million tonne as compared to the same period last year.
In the third quarter, the company incurred a one-time cost of Rs 419 crore towards an employee stock purchase option scheme 2020.
Domestic benchmarks reversed intraday gains and ended near the flat line after a volatile session on Tuesday. As per provisional closing data, the barometer index, the S&P BSE Sensex, fell 19.69 points or 0.04% to 51,329.08. The Nifty 50 index lost 6.50 points or 0.04% to 15,109.30.
The Sensex hit a record high of 51,835.86 and the Nifty hit a record high of 15,257.10 in mid-afternoon trade. Investors booked profits after both the indices surged about 11% in the past six consecutive sessions.
Mahindra & Mahindra (down 3.04%), ITC (down 1.76%), Bajaj Finance (down 1.59%), TCS (down 1.10%) and Hindustan Unilever (down 0.93%) offset gains in Asian Paints (up 3.70%), Larsen & Toubro (up 0.83%), ICICI Bank (up 0.66%), HDFC Bank (up 0.45%) and HDFC (up 0.33%).