Meanwhile, pharma stocks advanced after declining in the past trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, jumped 494.72 points or 0.59% to 84,971.12. The Nifty 50 index advanced 148.56 points or 0.58% to 25,964.10.

In the broader market, the S&P BSE Mid-Cap index rose 0.36% and the S&P BSE Small-Cap index rallied 0.65%.

The market breadth was strong. On the BSE, 2,381 shares rose and 1,173 shares fell. A total of 260 shares were unchanged.

New Listing:

Shares of ICICI Prudential Asset Management Company were currently trading at Rs 2,615.90 at 10:09 IST on the BSE, representing a premium of 20.83% as compared with the issue price of Rs 2,165.

The stock debuted at Rs 2,606.20 on the BSE, exhibiting a premium of 20.38% over the issue price.

So far, the stock has hit a high of 2,662 and a low of 2,602. On the BSE, over 21.49 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Pharma index jumped 1.02% to 22,787.30. The index slipped 0.24% in the past trading session.

Wockhardt (up 7.32%), Divis Laboratories (up 3.01%), Laurus Labs (up 2.86%), Ajanta Pharma (up 2.71%), Piramal Pharma (up 1.96%), Biocon (up 1.92%), Gland Pharma (up 1.24%), Ipca Laboratories (up 1.22%), Aurobindo Pharma (up 1.21%) and Glenmark Pharmaceuticals (up 1.1%) advanced.

Stocks in Spotlight:

Apollo Micro Systems added 1.10% to Rs 229.05 after the company said that its subsidiary IDL Explosives has received industrial license for manufacturing of widely used explosives HMX and TNT.

Aeroflex Industries surged 10.11% after the company's board has approved raising funds through a preferential issue of 30.10 lakh equity shares at an issue price of Rs 182.70 per share (including premium) to non-promoters.

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