Benchmarks trade sideways; metal shares shine

The key equity benchmarks traded near the opening levels in morning trade. Market participants will closely monitoring rupee movement, FII activity, IPO-related developments, and global cues. The Nifty traded above the 26,150 mark.

Metal shares extended gains for a fifth consecutive trading session.

At 10:25 ST, the barometer index, the S&P BSE Sensex declined 67.43 points or 0.08% to 85,504.02. The Nifty 50 index advanced 0.10 points or 0.0% to 26,172.75.

In the broader market, the S&P BSE Mid-Cap index shed 0.01% and the S&P BSE Small-Cap index added 0.35%.

The market breadth was weak. On the BSE, 2,220 shares rose and 1,392 shares fell. A total of 237 shares were unchanged.

 

New Listing:

Shares of KSH International were currently trading at Rs 360.55 at 10:14 IST on the BSE, representing a discount of 6.11% as compared with the issue price of Rs 384.

The stock debuted at Rs 370 on the BSE, exhibiting a discount of 3.65% over the issue price.

So far, the stock has hit a high of 370 and a low of 355. On the BSE, over 3 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Metal index jumped 0.62% to 10,735. The index rallied 2.59% in the five consecutive trading sessions.

NMDC (up 2.47%), Hindustan Copper (up 2.43%), Welspun Corp (up 1.78%), Lloyds Metals & Energy (up 1.72%) and Hindustan Zinc (up 1.32%), National Aluminium Company (up 0.95%), Jindal Steel (up 0.76%), Jindal Stainless (up 0.73%), Steel Authority of India (up 0.6%) and Hindalco Industries (up 0.47%) surged.

Stocks in Spotlight:

Antony Waste Handling Cell surged 6.59% after the company announced that its arm, Antony Lara Enviro Solutions, has secured a contract worth Rs 329.45 crore for the development of a mixed solid waste processing plant in Maharashtra.

Glenmark Pharmaceuticals advanced 1.64%. The company said that its wholly owned subsidiary, Glenmark Pharmaceuticals Inc., USA, has announced the launch of Epinephrine Injection USP, 30 mg/30 mL (1 mg/mL) Multiple-Dose Vial in the United States.

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