At 12:24 IST, the barometer index, the S&P BSE Sensex, was up 869.07 points or 1.68% to 52,466.91. The Nifty 50 index gained 254.65 points or 1.66% to 15,604.80.
In the broader market, the S&P BSE Mid-Cap index gained 1.78% while the S&P BSE Small-Cap index advanced 2.35%.
Buyers outnumbered sellers. On the BSE, 2,355 shares rose and 800 shares fell. A total of 136 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 4.21% to 21.4675. The Nifty 30 June 2022 futures were trading at 15,611.40, at a premium of 6.6 points as compared with the spot at 15,604.80.
Buzzing Index:
The Nifty PSU bank index rose 3.02% to 2,379.05, snapping its eight days losing streak. The index lost 10.6% in the past eight trading sessions.
Among the components of the Nifty PSU Bank index, Bank of Baroda (up 4%), Punjab National Bank (up 3.16%), Canara Bank (up 2.98%), State Bank of India (up 2.89%) and Bank of Maharashtra (up 2.64%) were the top gainers.
Stocks in Spotlight:
Bank of India rose 2.56% to Rs 42.05 after the bank said its board is planning to raise Rs 2,500 crore via fresh equity shares to increase the public shareholding in the bank to 25% to comply with regulatory norms. "The present public shareholding in the Bank is 18.59% and the Bank has to increase this to 25% or above in order to comply with the minimum public shareholding requirements as per the Security Contracts (Regulation) Rules, 1957 and SEBI (LODR) Regulations, 2015. Hence, Bank proposes to issue fresh equity capital to increase the public shareholding to 25% or above," the bank said in a statement.
Fineotex Chemical advanced 1.72% to Rs 165.25. The company said its board will consider raising funds on 24 June 2022. The company plans to raise funds by issuing equity shares and/or other equity linked securities, through permissible mode(s) including but not limited to a private placement, preferential issue, qualified institutions placement, further public offer, etc., or any combination thereof. The proposal is subject to shareholders' approval and regulatory approvals.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app