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Barometers trade near flat line, PSU banks advance

Published on Jan 16, 2024 10:36

The benchmark indices traded near the flat line with some negative bias in morning trade. The Nifty traded near the 21,100 level. PSU bank shares advanced in four trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 9.32 points or 0.01% to 73,318.62 The Nifty 50 index lost 5.15 points or 0.02% to 22,092.30.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.31% and the S&P BSE Small-Cap index gained 0.28%.

The market breadth was positive. On the BSE, 1,910 shares rose and 1,639 shares fell. A total of 154 shares were unchanged.

New Listing:

Shares of Jyoti CNC Automation were currently trading at Rs 418 at 10:23 IST on the BSE, representing a premium of 26.28% as compared with the issue price of Rs 331.

The scrip was listed at Rs 372, exhibiting a premium of 12.39% to the issue price.

So far, the stock has hit a high of 423.70 and a low of 370.05. On the BSE, over 8.89 lakh shares of the company were traded in the counter so far.

Results Today:

HDFC Bank (up 0.07%), ICICI Lombard General Insurance Company(down 0.12%), L&T Technology Services(down 0.08%), Federal Bank(up 0.72%), Gallantt Ispat(up 2.45%), Goa Carbon(up 2.03%), Hathway Cable & Datacom(up 0.24%), Himadri Speciality Chemical(down 0.53%), ICICI Securities(up 4.10%), Jindal Saw(up 1.58%), Lotus Chocolate(down 0.76%), Bank of Maharashtra(up 0.73%), C E Info Systems(up 0.25%), Credo Brands Marketing(down 0.39%), Network18 Media & Investments(down 0.33%), Newgen Software Technologies(up 1.65%), and TV18 Broadcast (down 0.73%) will announce their quarterly results later today.

Buzzing Index:

The Nifty PSU Bank index advanced 1.37% to 5,999.05. The index rallied 5.85% in four trading sessions.

Central Bank of India (up 3.04%), Union Bank of India (up 3.02%), UCO Bank (up 2.76%), Bank of India (up 2.75%), Indian Overseas Bank (up 2.25%), Punjab & Sind Bank (up 1.87%), Indian Bank (up 1.57%), Bank of Maharashtra (up 1.49%), Punjab National Bank (up 1.22%) and Canara Bank (up 0.76%) edge higher.

Stocks in Spotlight:

Sarda Energy & Minerals advanced 2.77% after the company has awarded a contract to Gensol Engineering for installation of solar power plant of 50 MW DC in Chhattisgarh for meeting the captive requirements of the company�s production and mining facilities.

BLS International Services (BLS) rose 1.30% after the company announced that it has entered into a definitive Share Purchase Agreement through its wholly owned subsidiary BLS International FZE, UAE, to acquire 100% stake in iData Danismanlik Ve Hizmet Dis Ticaret Anonim Sirketi (�iDATA�) and its wholly owned subsidiaries for an Enterprise Value of Euro 50 Million (~ Rs. 450 crore) and additional milestones based payments.

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