Nifty above 26,050; metal shares in demand

The key equity benchmarks traded with modest gains in the morning trade. The Nifty traded above the 26,050 mark. Metal shares extended gains for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, surged 559.31 points or 0.66% to 85,146.32. The Nifty 50 index rose 187.35 points or 0.72% to 26,065.90.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.93% and the S&P BSE Small-Cap index rose 0.95%.

The market breadth was strong. On the BSE, 2,632 shares rose and 989 shares fell. A total of 208 shares were unchanged.

New Listings:

Shares of Excelsoft Technologies were currently trading at Rs 139.35 at 10:20 IST on the BSE, representing a premium of 16.13% as compared with the issue price of Rs 120.

The stock was listed at Rs 135, exhibiting a premium of 12.5% to the issue price.

So far, the stock has hit a high of 142.65 and a low of 134.95. On the BSE, over 49.58 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Metal index jumped 1.64% to 10,239.05. The index added 2.21% in the two consecutive trading sessions.

Lloyds Metals & Energy (up 3.76%), Steel Authority of India (up 3.2%), JSW Steel (up 2.9%), Jindal Stainless (up 1.9%), Tata Steel (up 1.66%), Hindustan Copper (up 1.51%), Jindal Steel (up 1.44%), National Aluminium Company (up 1.38%), NMDC (up 1.35%), and Vedanta (up 1.06%) rose.

Stocks in Spotlight:

Jyoti jumped 6.30% after the company received a letter of intent from Gujarat Energy Transmission Corporation (GETCO) for the supply of 11 KV vacuum circuit breaker (VCB) panels (quantity 525 Nos).

SMS Pharmaceuticals jumped 6.39% after the companys associate company, VKT Pharma, received approval from the US Food and Drug Administration (USFDA) for its reformulated ranitidine tablets in 150 mg and 300 mg strengths.

Powered by Capital Market - Live News