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Benchmarks trade with minor gains; bank shares rally for 6th day

Published on Feb 20, 2024 14:31

The domestic equity benchmarks traded with small gains in the mid-afternoon trade. The Nifty traded above the 22,100 level. Bank shares witnessed buying demand for the sixth consecutive trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 176.44 points or 0.24% to 72,884.60. The Nifty 50 index rose 17.80 points or 0.08% to 22,140.05.

In the broader market, the S&P BSE Mid-Cap declined 0.33% and the S&P BSE Small-Cap index shed 0.15%.

The market breadth was positive. On the BSE, 1,897 shares rose and 1,887 shares fell. A total of 199 shares were unchanged.

Buzzing Index:

The Nifty Bank index rose 0.73% to 46,877.40. The index rallied 4.45% in the six trading sessions.

HDFC Bank (up 2.09%), Axis Bank (up 1.82%), Kotak Mahindra Bank (up 1.58%), Bank of Baroda (up 0.85%), Punjab National Bank (up 0.7%), AU Small Finance Bank (up 0.36%), IndusInd Bank (up 0.25%), ICICI Bank (up 0.17%) and Bandhan Bank (up 0.1%) advanced.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper declined 0.17% to 7.087 as compared with the previous close of 7.099.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.9625, compared with its close of 83.0125 during the previous trading session.

MCX Gold futures for 5 April 2024 settlement rose 0.07% to Rs 62,046.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.05% to 104.34.

The United States 10-year bond yield shed 0.21% to 4.284.

In the commodities market, Brent crude for April 2024 settlement lost 32 cents or 0.38% to $83.47 a barrel.

Stocks in spotlight:

Vipul Organics surged 15.97% after the company announced the receipt of environmental clearance for proposed expansion from 10 metric tones per month (MT/M) to 508 MT/M at its Ambernath facility.

NBCC (India) advanced 1.27% after the company announced that it has received order from National Institute of Technology, Sikkim worth Rs 560 crore.

Waaree Renewable Technologies was locked in an upper circuit of 5% after the company announced that it has received a letter of award (LoA) aggregating to Rs 990.6 crore.

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