Benchmarks erase early gains, PSU banks advance
Published on Sep 22, 2023 10:33
The frontline indices erased early gains and traded with limited losses in morning trade. The Nifty traded below the 19,750 mark. PSU bank witnessed bargain buying after declining in the past two trading sessions.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 58.81 points or 0.09% to 66,171.43. The Nifty 50 index lost 30.50 points or 0.15% to 19,713.10.
In the broader market, the S&P BSE Mid-Cap index fell 0.33 % while the S&P BSE Small-Cap index declined 0.32%.
The market breadth was negative. On the BSE, 1,451 shares rose and 1,774 shares fell. A total of 203 shares were unchanged.
Shares of Zaggle Prepaid Ocean Services were currently trading at Rs 166.35 at 10:21 IST on the BSE, representing a premium of 1.43% as compared with the issue price of Rs 164.
The scrip was listed at Rs 162, exhibiting a discount of 1.22% to the issue price.
So far, the stock has hit a high of 170.70 and a low of 156.30. On the BSE, over 5.52 lakh shares of the company were traded in the counter so far.
Shares of Samhi Hotels were currently trading at Rs 134.15 at 10:25 IST on the BSE, representing a premium of 6.47% as compared with the issue price of Rs 126.
The scrip was listed at Rs 130.55, exhibiting a premium of 3.61% to the issue price.
So far, the stock has hit a high of 134.65 and a low of 127.45. On the BSE, over 10.24 lakh shares of the company were traded in the counter so far.
The Nifty PSU Bank index rose 1.86% to 5,132.15. The index fell 3.43% in the past two trading sessions.
Union Bank of India (up 3.89%), Canara Bank (up 2.68%), Indian Bank (up 2.51%), Bank of Baroda (up 1.35%), Central Bank of India (up 1.17%), State Bank of India (up 0.98%), Bank of India (up 0.84%), Bank of Maharashtra (up 0.78%), Punjab National Bank (up 0.6%) and UCO Bank (up 0.48%) edged higher.
Stocks in Spotlight:
Wipro declined 2.01%. The company announced that it is appointing Aparna C Iyer as chief financial officer, effective immediately. Aparna will report to CEO Thierry Delaporte and will join the Wipro executive board.
Meanwhile, Jatin Pravinchandra Dalal resigned as chief financial officer of the company to pursue professional goals outside the organization. He will be relieved from the services of the company with effect from 30 November 2023.
Ideaforge Technology added 0.63% after the company announced that it has received order worth about Rs 58 crore from Strategic Marketing for supplying 400 surveillance copter with accessories. The said contract has to be executed within a period of twelve months.
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