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By Admin
Posted on December 20, 2023
The key equity indices traded with moderate gains in morning trade.
The Sensex and the Nifty, both, attained fresh record high levels. The Nifty traded above the 21,550 mark. IT shares edged higher after declining in the past two trading sessions.
The barometer index, the S&P BSE Sensex, was up 316.19 points or 0.44% to 71,753.38. The Nifty 50 index gained 101.20 points or 0.47% to 21,554.30.
The Nifty 50 and S&P BSE Sensex hit an all-time high at 21,593 and 71,913.07 respectively in early trade.
In the broader market, the S&P BSE Mid-Cap index added 0.67% and the S&P BSE Small-Cap index rose 0.65%.
The market breadth was strong. On the BSE, 2,264 shares rose and 1,232 shares fell. A total of 157 shares were unchanged.
Shares of DOMS Industries were currently trading at Rs 1,393.90 at 10:09 IST on the BSE, representing a premium of 76.44% as compared with the issue price of Rs 790.
The scrip was listed at Rs 1,400, exhibiting a premium of 77.22% to the issue price. So far, the stock has hit a high of 1,416.50 and a low of 1,354.70. On the BSE, over 4.02 lakh shares of the company were traded in the counter so far.
Shares of India Shelter Finance Corporation were currently trading at Rs 573.70 at 10:15 IST on the BSE, representing a premium of 16.37% as compared with the issue price of Rs 493.
The scrip was listed at Rs 612.70, exhibiting a premium of 24.28% to the issue price. So far, the stock has hit a high of 625 and a low of 567.60. On the BSE, over 6.31lakh shares of the company were traded in the counter so far.
The Nifty IT index gained 1.52% to 35,881.85. The index slipped 1.22% in two trading sessions.
Persistent Systems (up 2.6%), LTIMindtree (up 2.37%), L&T Technology Services (up 2.32%), Wipro (up 1.82%), Tata Consultancy Services (up 1.55%), Infosys (up 1.24%), Coforge (up 1.09%), Tech Mahindra (up 0.96%), Mphasis (up 0.86%) and HCL Technologies (up 0.36%) advanced.
Transformers and Rectifiers (India) added 2.69% after the company announced that it has been awarded orders of transformers for total contract value of Rs 118 crore from Uttar Pradesh Power Transmission Corporation.
Varun Beverages surged 10.41% after the company announced that it is set to acquire 100% stake in South Africa-based The Beverage Company (BevCo) along with its wholly-owned subsidiaries for Rs 1,320 crore.
Jk Tyre & Industries rose 0.88% after the company’s board has approved the opening qualified institutions placement of equity shares with the floor price of Rs 358.96 per share.
BPCL rose 0.78%. The state-owned oil marketing firm said that its board has approved a proposal for setting up a polypropylene unit for the production of polypropylene at Kochi refinery, at a gross project cost of Rs 5,044 crore.
IndusInd Bank added 0.67% and Nippon Life India Asset Management jumped 6.95%. IndusInd Bank is reportedly likely to sell up to 1.79 crore shares, or 2.86% equity, in Nippon Life India Asset Management via block deals. The floor price has been set at Rs 426.60 per share, as per reports.
Rail Vikas Nigam (RVNL) rose 1.20%. KRDCL-RVNL joint venture has emerged as the Lowest Bidder (L1) for major upgradation/redevelopment of Varkala Sivagiri Railway Station in Kerala. The project cost is Rs 123.26 crore and the time period for the project is 30 months.
The yield on India’s 10-year benchmark federal paper added 0.04% to 7.174 as compared with previous close 7.171.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.1325, compared with its close of 83.1825 during the previous trading session.
MCX Gold futures for 5 February 2024 settlement rose 0.07% to Rs 62,519.
The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, was up 0.05% to 102.22.
The United States 10-year bond yield shed 0.19% to 3.915.
In the commodities market, Brent crude for February 2024 settlement declined 4 cents or 0.05% to $79.19 a barrel.
Most of the Asian stocks were trading higher on Wednesday, with Japan stocks extending gains to another session after the country?s central bank left its ultra-loose monetary policy unchanged at its final meeting this year.
The People?s Bank of China held its one-year loan prime rate at 3.45%. The five-year benchmark loan rate was unchanged at 4.2%.
US stocks ended higher on Tuesday as the Federal Reserve?s recent dovish shift on rates lifted stocks.
