Nifty climbs above 22,100; oil & gas shares rally for 5th day

The domestic equity benchmarks traded with substantial gains in the morning trade. The Nifty marched above the 22,100 level. Oil & gas shares witnessed buying demand for the fifth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 468.46 points or 0.64% to 72,935.95. The Nifty 50 index added 136.70 points or 0.62% to 22,141.40.

In the broader market, the S&P BSE Mid-Cap rose 0.33% and the S&P BSE Small-Cap index added 0.69%.

The market breadth was positive. On the BSE, 2,003 shares rose and 1,492 shares fell. A total of 145 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index advanced 1.35% to 11,457.30. The index rallied 4.96% in five trading sessions.

Castrol India (up 2.97%), Reliance Industries (up 2.37%), Aegis Logistics (up 2.32%), Indian Oil Corporation (up 1.94%), Oil India (up 1.43%), GAIL (India) (up 1.3%), Petronet LNG (up 1.24%), Hindustan Petroleum Corporation (up 1.15%), Bharat Petroleum Corporation (up 1.14%) and Oil & Natural Gas Corpn (up 0.89%) advanced.

Stocks in Spotlight:

Dynacons Systems & Solutions zoomed 17.24% after the company announced that it has been awarded a significant contract worth Rs 41.72 crore by the National Payments Corporation of India (NPCI) for a Data Centre Tech Refresh initiative.

Praveg added 2.48% after the company announced the launch of the Safari Velavadar Resort in Gujarat. The Safari Velavadar Resort, nestled in this tranquil setting, features 12 luxurious cottages equipped with modern amenities, offering guests a serene retreat surrounded by nature.

Prataap Snacks rose 2.40% after the commercial production at newly set up Unit situated at Samba, Jammu & Kashmir has commenced on 26th March, 2024. The Unit has been set up for the production of extruded namkeen snacks, fried namkeen pellets and other namkeen snacks including popcorn with a total capacity of about 10,000 MT per annum.

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