Sensex Trades In Green; Bajaj Auto & Bharti Airtel Top Gainers

Share markets in India are trading on a positive note in today's volatile trade. Benchmark indices edged higher as positive developments in a coronavirus vaccine trial improved global risk sentiment.

Global stock markets were upbeat after a Covid-19 vaccine from Pfizer and Germany's BioNTech was found to be well tolerated in early-stage human trials.

Sentiment also got a boost after US non-farm payrolls released overnight beat expectations, raising optimism of a V shape recovery. This came as an addition to the recent PMI data from China which was also ahead of expectations and rather encouraging.

The BSE Sensex is trading up by 189 points, up 0.5%, at 36,000 levels. Meanwhile, the NSE Nifty is trading up by 58 points.

The BSE Mid Cap index is trading up by 0.7%. The BSE Small Cap index is trading up by 0.6%.

On the sectoral front, gains are largely seen in the telecom sector and power sector.

Metal stocks, on the other hand, are witnessing selling pressure.

The rupee is trading at 74.68 against the US$.

Gold prices are trading down by 0.3% at Rs 48,030 per 10 grams.

Moving on, market participants are tracking Vedanta's share price. The Anil Agarwal-led company has been removed from all indices compiled by the NSE ahead of its possible delisting.

The company is also part of the benchmark Nifty 50 index. The stock will be replaced by HDFC Life Insurance Company with effect from July 31.

It will be replaced by SBI Cards in the Nifty 100 and Nifty 500 indices.

NSE's index maintenance committee "has decided to replace Vedanta from various indices on account of proposed voluntary delisting. The changes shall become effective from July 31," the exchange said in a release.

Last week, Vedanta obtained shareholders' approval to delist. The company will soon launch the reserve book building process to delist.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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