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Benchmarks extend gains; PSU banks in demand

Published on Mar 28, 2024 10:37

The key equity indices extended gains in the morning trade. The Nifty marched above the 22,250 level. PSU bank shares advanced after declining in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 557.65 points or 0.76% to 73,552.14. The Nifty 50 index added 163.05 points or 0.74% to 22,286.70.

In the broader market, the S&P BSE Mid-Cap rose 0.08% and the S&P BSE Small-Cap index added 0.63%.

The market breadth was strong. On the BSE, 2,267 shares rose and 1,179 shares fell. A total of 135 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index advanced 1.47% to 6,929.15. The index fell 0.97% in the previous trading session.

Punjab & Sind Bank (up 3.55%), Indian Overseas Bank (up 3.51%), Bank of Maharashtra (up 3.38%), Central Bank of India (up 3.32%), Indian Bank (up 2.87%), UCO Bank (up 2.83%), Bank of India (up 1.93%), Canara Bank (up 1.57%), State Bank of India (up 1.28%) and Bank of Baroda (up 0.95%) advanced.

Stocks in Spotlight:

Biocon added 1.44% after the company announced that it has received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), U.K., for its complex formulation Liraglutide.

Mahindra Lifespace Developers advanced 2.52% after the company said that it has purchased approximately 2.0 acres of land in Whitefield, East Bengaluru.

Cyient rose 2.88% after the company announced a strategic partnership with Deutsche Aircraft, a German original equipment manufacturer (OEM) located in We�ling, Munich to design 40-seater turboprop aircraft.

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