Sensex gains 257 pts, Nifty above 18,600 level, metal stocks shine

The key equity indices traded with modest gains in the morning trade. The Sensex and the Nifty hit record high levels. The Nifty traded above the 18,600 level. FMCG, metal and consumer durables stocks were in demand while oil & gas, PSU bank and media shares corrected.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 257.14 points or 0.41% to 62,761.94. The Nifty 50 index gained 78.20 points or 0.42% to 18,640.95.

The two benchmarks hit all-time highs in morning trade today at 18,642.65 for Nifty 50 index and 62,767.72 for Sensex.

In the broader market, the S&P BSE Mid-Cap index rose 0.05% while the S&P BSE Small-Cap index added 0.18%.

The market breadth was positive. On the BSE, 1,821 shares rose and 1,347 shares fell. A total of 157 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 935.88 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 87.93 crore in the Indian equity market on 28 November, provisional data showed.

Buzzing Index:

The Nifty Metal index rose 1.21% to 6,458.80. The index declined 1.14% in the past trading session.

National Aluminium Company (up 2.75%), Steel Authority of India (up 2.25%), Tata Steel (up 1.95%), Hindalco Industries (up 1.89%), Jindal Steel & Power (up 1.79%), JSW Steel (up 1.1%), Hindustan Copper (up 1.09%), MOIL (up 1.09%), Ratnamani Metals & Tubes (up 0.47%) and Welspun Corp (up 0.3%) edged higer.

On the other hand, Vedanta (down 2.75%), APL Apollo Tubes (down 0.67%) and Hindustan Zinc (down 0.48%) declined.

Stocks in Spotlight:

Cipla rose 1.88% after the drug major announced the launch of Leuprolide Acetate Injection Depot 22.5 mg, the approval for which was granted by the US FDA based on an NDA submitted under the 505(b)(2) regulatory pathway.

Filatex Fashions rallied 3.35% after the company said that it is planning a capacity expansion of Rs 300 crore for its production facility in next one and a half year. Under this expansion, the company will install another 500 machines to meet the growing demand for the company's existing products. The said machines will require about 400,000 square feet of space for installation and the company's existing land will be enough for the same. This capex will generate additional turnover of around Rs 400 crore and provide employment to more than 1,000 workers.

Powered by Capital Market - Live News