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Sensex above 500 points, Nifty above 17,600; Divij Labs, NTPC Top Gainers

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NTPC is up 3.7 per cent on reports it plans to raise Rs 15,000 crore

Despite the day’s high on the back of all-round buying, the domestic markets are trading strongly on Monday afternoon. As of 1:10 pm, the BSE Sensex is trading at 59,289.50, up 544.55 points or 0.92 per cent, and the NSE Nifty is up 156.90 points or 0.91 per cent at 17,688.23. Barring the consumer durables sector, all BSE sectoral indices are trading in the green.

The broader markets are outperforming their largecap peers, with the BSE Midcap index rising 0.3 per cent and the BSE Smallcap index up 1.3 per cent to hit record highs.

On the global front, European markets opened with marginal gains and Asian markets are trading with a mixed trend.

In line with Asian competitors, the rupee has fallen by 5 paise to 74.17 against the US dollar in the currency market amid the strengthening of the dollar in the overseas market. At the interbank foreign exchange, the rupee opened at 74.16 against the dollar and later fell to 74.17.

Among individual stocks, Divi’s Labs shares jumped as much as 10 per cent to a high of Rs 5,313.80 after Merck and company partner Ridgeback Biotherapeutics said on Friday that its experimental antiviral drug mollupiravir was less likely to die or be hospitalized. can halve the chances. Those at highest risk of contracting severe COVID-19. Divi’s Laboratories manufactures the main ingredient of the medicine.

NTPC surged 3.7 per cent to Rs 145.10 after Bloomberg reported that the power major plans to raise Rs 15,000 crore through an initial public offering across three units and foregoing a joint venture stake.

Bajaj Finserv, Bajaj Finance and Tata Motors are other significant gainers in the BSE pack.

On the other hand, Bajaj Auto, Titan, Hindustan Unilever and Nestle India have lost nearly half a percentage point on the BSE.

Overall market breadth is extremely positive; There are 2,348 advance shares against 898 declines.

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