Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 230.94 points or 0.44% at 53,181.57. The Nifty 50 index was up 52.65 points or 0.33% at 15,937.80. The Sensex regained the psychological 53,000 mark in opening trade. Asian stocks are trading mixed.

The S&P BSE Mid-Cap index was up 0.31%. The S&P BSE Small-Cap index was up 0.39%.

The market breadth, indicating the overall health of the market, is strong. On the BSE, 1735 shares rose and 777 shares fell. A total of 76 shares were unchanged.

Stocks in news:

Tata Motors rose 1.35%. Tata Motors announced that effective 3rd August, it will increase prices of its passenger vehicles, on an average of 0.8%, depending on the variant and model.

Adani Enterprises rose 0.83%. Adani Enterprises said that Adani Wilmar, a 50:50 joint venture company between the Adani group and the Wilmar group, filed its draft red herring prospectus with the Sebi to raise upto Rs 4,500 crore through IPO.

Reliance Industries (RIL) shed 0.21%. RIL has invested Rs. 1,00,000 in cash in 10,000 equity shares of Rs. 10 each of 'Reliance New Solar Energy Limited' (RNSEL), a newly incorporated wholly owned subsidiary. RNSEL is incorporated to undertake activities relating to solar energy. RNSEL is yet to commence its business operations.

NCC advanced 2.13%. NCC has received four new orders totaling to Rs 1,679 crore (exclusive of GST) in the month of July, 2021. These orders are received from State Government agencies and do not include any internal orders.

VA Tech Wabag rose 0.26%. VA Tech Wabag secured a breakthrough Engineering and Procurement order worth 165 Million US Dollars (about 1,230 Crore) from Amur Gas Chemical Complex LLC., (AGCC) in Russia.

V-Mart Retail fell 1.13%. V-Mart Retail has opened three new stores in the state of Uttar Pradesh and 1 store in the state of Rajasthan. With this the total number of V-Mart stores now stands at 286 stores as at 1st August, 2021.

On the macro front, India's merchandise exports grew 47.19% to $35.17 billion in July on account of a healthy growth in the shipment of petroleum, engineering goods and gems and jewellery, according to provisional data of the commerce ministry. Imports during the month also rose 59.38% to $46.40 billion, leaving a trade deficit of $11.23 billion.

Meanwhile, India Meteorological Department (IMD) on Monday predicted that the monsoon would be 'normal' during August-September. “The 2021 August-September rainfall over the country as a whole is likely to be normal and quantitatively 100% of the Long Period Average (LPA),” IMD director general Mrutyunjay Mohapatra said at an online briefing. Rainfall between 95% and 105% of LPA is considered 'normal' for the two months. During August, monsoon rainfall is likely to be 99% of LPA, Mohapatra added.

Global Markets:

Overseas, Asian stocks are trading mixed on Tuesday as the Delta coronavirus variant spread in key markets in the region and put Chinese authorities on high alert, rattling investor confidence.

U.S. stocks gave up early gains and turned negative for the session on Monday as concerns about Covid variants and peaking economic growth weighed against strong earnings results.

Back home, benchmark indices closed with strong gains on first trading day of the week on positive global cues. The barometer index, the S&P BSE Sensex, was up 363.79 points or 0.69% at 52,950.63. The Nifty 50 index surged 122.1 points or 0.77% at 15,885.15.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,539.88 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,505.82 crore in the Indian equity market on 2 August, provisional data showed.

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