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The benchmark indices attain a new record high during the early afternoon trade. The Nifty index neared 17,600 level. The Sensex hit a record high of 59,010.54 while the Nifty scaled a record high of 17,589. FMCG stocks were in demand.

At 12:20 IST, the barometer index, the S&P BSE Sensex, jumped 279.99 points or 0.48% at 59,003.19. The Nifty 50 index advanced 68.05 points or 0.39% at 17,587.50.

In the broader market, the S&P BSE Mid-Cap index added 0.38% while the S&P BSE Small-Cap index gained 0.09%.

The market breadth was positive. On the BSE, 1,674 shares rose and 1,453 shares fell. A total of 139 shares were unchanged.

Economy:

A two-day meeting of Goods and Services Tax (GST) Council will begin today in Lucknow. The meeting will be the maiden physical meet of the GST council following the outbreak of the COVID-19 pandemic.

Meanwhile, Finance Ministry has said that Air India received financial bids for its disinvestment process. In a tweet, Secretary, Department of Investment and Public Asset Management Tuhin Kanta Pandey said, financial bids for Air India disinvestment received by Transaction Adviser. He said, the process now moves to concluding stage.

Coronavirus Update:

Total COVID-19 confirmed cases worldwide stood at 22,63,88,410 with 46,59,871 deaths. India reported 3,42,923 active cases of COVID-19 infection and 4,43,928 deaths while 3,25,60,474 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Derivatives:

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, jumped 3.93% to 14.27. The Nifty 30 September 2021 futures were trading at 17,542.35, at a discount of 45.15 points as compared with the spot at 17,587.50.

The Nifty option chain for 30 September 2021 expiry showed maximum Call OI of 16.6 lakh contracts at the 17,500 strike price. Maximum Put OI of 35.4 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty FMCG index rose 1.25% to 41,008.90. The index gained 1.33% in two trading sessions.

ITC (up 6.78%), Dabur India (up 0.64%), United Breweries (UBL) (up 0.55%), Marico (up 0.52%) and Procter & Gamble Hygiene and Healthcare (PGHH) (up 0.38%) were the major gainers in the FMCG segment.

Stocks in Spotlight:

IndusInd Bank jumped 8.99%. The bank inaugurated its sixth branch in the city of Jodhpur, Rajasthan. IndusInd Bank has now expanded its network to 100 branches across Rajasthan. The new branch, located on Pal Road in Jodhpur, will house an ATM that will be available 24×7 and provide services like Saving & Current accounts, Loan products, Wealth management services and Credit cards.

JSW Energy lost 0.52%. The company said that JSW Renew Energy Two, a project special purpose vehicle (SPV) formed by JSW Future Energy, a wholly owned subsidiary of the company, has signed power purchase agreements (PPA) for 450 MW of wind capacity with Solar Energy Corporation of India (SECI).

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