At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 348.53 points or 0.43% to 74,569.59. The Nifty 50 index added 97.65 points or 0.43% to 22,695.45.

In the broader market, the S&P BSE Mid-Cap index added 0.25% and the S&P BSE Small-Cap index rose 0.26%.

The market breadth was positive. On the BSE, 1,873shares rose and 1,587 shares fell. A total of 160 shares were unchanged.

Economy:

The Reserve Bank of India (RBI) announced a transfer of Rs 2.11 lakh crore to the government for the financial year 2023-24. This represents the highest surplus transfer on record by the central bank. This surplus will be reflected in the government's accounts for the financial year 2024-25, providing a significant boost to their fiscal position.

Results Today :

ITC (down 0.16%), Interglobe Aviation (up 1.07%), Page Industries (down 1.83%), Fortis Healthcare (down 0.77%), Bayer Crop science (down 0.77%), CESC (down 0.71%), Finolex Cables (up 0.77%), Bikaji Foods International (up 0.25%), Saregama India (down 1.03%), Orchid Pharma (up 0.44%), Gabriel India (up 1.01%), Steel Strips Wheels (up 1.14%), Subros (down 0.75%), Johnson Controls Hitachi Air (up 0.06%), Sandhar Technologies (down 1.35%), Barbeque Nation Hospitality (down 1.09%), Tata Investment Corp (down 0.28%) and Schneider Electric Infrastructure (up 2.49%) will announce their quarterly earnings later in the day.

New Listing:

Shares of Go Digit General Insurance were currently trading at Rs 299.30 at 10:27 IST on the BSE, representing a premium of 10.04 % as compared with the issue price of Rs 272.

The scrip was listed at Rs 281.10, exhibiting a 5.78% premium to the issue price.

So far, the stock has hit a high of 303 and a low of 281.10. On the BSE, over 10.24 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty PSU Bank index gained 1.97% to 7,383.15. The index shed 0.29% in the past trading session.

Indian Bank (up 3.27%), Bank of Maharashtra (up 3.03%), Indian Overseas Bank (up 2.62%), Bank of Baroda (up 2.37%) and Central Bank of India (up 2.15%) were the top gainers. Among the other gainers were Bank of India (up 2.13%), Union Bank of India (up 2.02%), UCO Bank (up 1.94%), Canara Bank (up 1.85%) and Punjab & Sind Bank (up 1.79%) advanced.

Stocks in Spotlight:

Mahindra & Mahindra Financial Services rose 0.19%. The company said that it has obtained a Certificate of Registration from IRDAI (Corporate Agency License) to act as a 'corporate agent (composite)' under the Insurance Act, 1938.

Allcargo Logistics advanced 1.16% after the company said that its wholly owned subsidiary, ECU Worldwide N.V. (Formerly known as Allcargo Beligum N.V.) has acquired 25% stake in Fair Trade for a consideration of EUR 2.9 million.