Nifty jumps above 25,300 level; oil & gas shares rally for 6th day in a row

The headline equity benchmarks traded with modest gains in morning trade. The Nifty traded above the 25,300 level. Oil & gas stocks extended gains for the sixth consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, jumped 255.07 points or 0.31% to 82,636.25. The Nifty 50 index rose 87.05 points or 0.34% to 25,326.15.

In the broader market, the S&P BSE Mid-Cap index rose 0.32% and the S&P BSE Small-Cap index added 0.62%.

The market breadth was strong. On the BSE, 2,578 shares rose and 1,187 shares fell. A total of 211 shares were unchanged.

New Listing:

Shares of Urban Company were currently trading at Rs 172.90 at 10:00 IST on the BSE, representing a premium of 67.86% compared with the issue price of Rs 103.

The scrip was listed at Rs 161, a premium of 56.31% to the issue price.

So far, the stock has hit a high of Rs 174.10 and a low of Rs 161. On the BSE, over 44.13 lakh shares of the company were traded in the counter so far.

Shares of Dev Accelerator were currently trading at Rs 64.30 at 10:15 IST on the BSE, representing a premium of 5.41% compared with the issue price of Rs 61.

The stock made its debut at Rs 61.30, a marginal premium of 0.49% to the issue price.

So far, the stock has hit a high of Rs 64.36 and a low of Rs 59. On the BSE, over 7.69 lakh shares of the company were traded in the counter so far.

Shares of Shringar House of Mangalsutra were currently trading at Rs 185.50 at 10:18 IST on the BSE, representing a premium of 12.42% compared with the issue price of Rs 165.

The scrip was listed at Rs 187.70, a premium of 13.76% to the issue price.

So far, the stock has hit a high of Rs 191 and a low of Rs 185.10. On the BSE, over 12.96 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Oil & Gas index rose 0.62% to 11,289.65. The index extended its winning streak to a sixth consecutive session, gaining 3.30%.

Castrol India (up 1.85%), Bharat Petroleum Corporation (up 1.3%), Petronet LNG (up 0.88%), Hindustan Petroleum Corporation (up 0.8%), Adani Total Gas (up 0.74%), Oil & Natural Gas Corpn (up 0.63%), Indian Oil Corporation (up 0.59%), Gujarat State Petronet (up 0.44%), Reliance Industries (up 0.42%) and Oil India (up 0.34%) added.

On the other hand, Aegis Logistics (down 0.55%), Mahanagar Gas (down 0.08%) and GAIL (India) (down 0.01%) edged lower.

Stocks in Spotlight:

Larsen & Toubro (L&T) rose 0.58%. The company said that its Power Transmission & Distribution (PT&D) vertical has bagged large orders both in India and abroad.

Aditya Birla Fashion & Retail (ABFRL) added 2.54% after the company announced the launch of its new fashion brand OWND!, aimed at Indias Gen Z and trend-conscious consumers.

RailTel Corporation of India added 1.20% after the company announced that it has received letter of acceptance (LOA) worth Rs 57.48 crore from Bihar State Educational Infrastructure Development Corporation.

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