The Indian equity benchmarks extended gains in noon deals on Friday, September 4, mirroring gains in global markets after bond yields in the United States softened. According to reports from The Economic Times, the SENSEX surged as much as 730 points and the NIFTY50 index touched an intraday high of 24,005, powered by gains in major stocks including Reliance Industries, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, ITC, State Bank of India and Larsen & Toubro. As of 12:16 pm, the SENSEX was up 552 points at 76,704 and the NIFTY50 index advanced 72 points to 23,945.
Trading volume in HBL Engineering shares jumped by 16.4 times to 1.03 crore shares compared with an average volume of 6.28 lakh shares on the National Stock Exchange. As reported by The Economic Times, on the BSE, 9.23 lakh shares changed hands compared with an average of 82,000 shares traded daily in the past two weeks. The volume surge indicates significant investor interest in the engineering company's shares.
According to reports from The Economic Times, a total of 1.07 crore Gland Pharma shares changed hands on the BSE, compared with an average of 49,000 shares traded daily in the past two weeks. Earlier this week, the company informed exchanges that the United States Food and Drug Administration (USFDA) conducted a routine Good Manufacturing Practice (GMP) inspection at the company's VSEZ Sterile Oncology Formulations Facility and API Facility at Visakhapatnam between August 24 and September 1 with zero Form 483 observations. This regulatory clearance appears to have boosted investor confidence.
As reported by The Economic Times, trading volume on the NSE jumped 6.8 times to 20.82 lakh shares compared with an average volume of 3.07 lakh shares. A total of 3.98 lakh shares were traded on the BSE compared with a two-week average of 1.2 lakhs shares. Additionally, trading volume on the NSE jumped 5.1 times to 18 lakh shares compared with an average volume of 3.55 lakh shares. In a statement on Thursday, SEBI said it may propose changes to the existing methodology, with a consultation paper on the proposed framework likely to be released in about a week.
