Nifty tad above 25,550; PSU bank shares in demand

The domestic equity indices traded with modest gains in the morning trade. The Nifty traded tad above the 25,550 mark. PSU bank shares advanced after declining in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex jumped 271.24 points or 0.33% to 82,769.38. The Nifty 50 index rose 99.85 points or 0.39% to 25,554.20.

In the broader market, the BSE 150 MidCap Index rose 0.30% and the BSE 250 SmallCap Index fell 0.08%.

The market breadth was positive. On the BSE, 1,851 shares rose and 1,726 shares fell. A total of 215 shares were unchanged.

 

Buzzing Index:

The Nifty PSU Bank index rose 0.93% to 9,593.90. The index declined 1.24% in the past trading session.

Union Bank of India (up 1.91%), Indian Bank (up 1.59%), Punjab National Bank (up 1.52%), Bank of Maharashtra (up 1.24%), Canara Bank (up 1.16%), Bank of India (up 1.05%), Indian Overseas Bank (up 0.97%), UCO Bank (up 0.87%), Central Bank of India (up 0.74%) and Bank of Baroda (up 0.49%) rose.

Stocks in Spotlight:

Pace Digitek added 2.35% after it secured an order worth Rs 890.69 million from RailTel Corporation of India (RCIL) for the supply, installation, and commissioning of IP-based video surveillance systems in LHB coaches.

IFGL Refractories added 1.09% after the company announced that a new line for the manufacturing of plastic refractories at the companys Visakhapatnam manufacturing facility has commenced commercial operations.

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