Indices trade with decent gains; metal stocks in demand

The key equity indices traded with decent gains in morning trade, buoyed by strong buying in metals and PSU banks coupled with an overall firm trend in global equities. The Nifty traded above the 18,200 level.

At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 134.83 points or 0.22% to 61,268.71. The Nifty 50 index added 44.20 points or 0.24% to 18,235.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.80% while the S&P BSE Small-Cap index gained 1.19%.

The market breadth remained strong. On the BSE, 2333 shares rose, and 820 shares fell. A total of 138 shares were unchanged.

Global stock markets are rounding off a tumultuous and difficult year, as governments and central banks grappled with sky-high inflation arising from the fallout from Russia's war in Ukraine, and persistent Covid-19 restrictions in China.

Investors remain wary of the prospect of persistently high inflation, monetary policy tightening from central banks and a potentially prolonged period of sluggish economic growth.

Buzzing Index:

The Nifty Metal index rose 1.56% to 6,791.45. The index has added 2.66% in two sessions.

Steel Authority of India Ltd (up 3.58%), Welspun Corp Ltd (up 3.49%), National Aluminium Company Ltd (up 3.04%), Tata Steel Ltd (up 2.1%) and Hindustan Copper Ltd (up 1.88%) were the top gainers.

Among the other gainers were MOIL Ltd (up 1.66%), Vedanta Ltd (up 1.43%), Hindalco Industries Ltd (up 1.39%), Adani Enterprises Ltd (up 1.33%) and APL Apollo Tubes Ltd (up 1.21%).

Stocks in Spotlight:

Kalpataru Power Transmission rose 1.88%. The company announced that its board has appointed Shailendra Kumar Tripathi as deputy managing director (MD) of the company, for a period upto 21 October 2025.

Satin Creditcare Network added 2.13%. The company received the second tranche of about Rs 25 crore, against conversion of 41.02 lakh fully convertible warrants from Florintree Ventures LLP (entity belonging to non-promoter group).

H.G. Infra Engineering jumped 4.65%. The company has received a letter of award (LOA) from National Highways Authority of India (NHAI) for a project in the state of Haryana on hybrid annuity mode (HAM). The project involves construction of 6-lane greenfield ring road on a section of NH-44. The construction length is 34.5 kms and the construction period is 730 days. The project bid cost is Rs 997.11 crore.

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