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Broader market underperforms, consumer durables advances

Published on Feb 28, 2024 10:36

The key equity benchmarks traded with tiny gains in morning trade. The Nifty traded above 22,200 level. Consumer durables shares witnessed buying demand for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 89.71 points or 0.12% to 73,184.93. The Nifty 50 index added 12.25 points or 0.06% to 22,210.60.

The broader market underperformed the headline indices. The S&P BSE Mid-Cap index fell 0.24% and the S&P BSE Small-Cap index shed 0.20%.

The market breadth was positive. On the BSE, 1,592 shares rose and 1,965 shares fell. A total of 119 shares were unchanged.

New Listing:

Shares of Juniper Hotels was locked in an upper circuit of 10% at Rs 397.30 at 10:16 IST on the BSE, representing a premium of 10.36% as compared with the issue price of Rs 360.

The scrip was listed at Rs 361.20, exhibiting a premium of 0.33% to the issue price.

So far, the stock has hit a low of 361.20. On the BSE, over 12.75 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Consumer Durables index rose 0.74% to 32,326.10. The index gained 1.67% in two trading sessions.

V-Guard Industries (up 5.18%), Havells India (up 3.17%), Voltas (up 0.78%), Blue Star (up 0.56%), Kajaria Ceramics (up 0.44%), Relaxo Footwears (up 0.32%), Dixon Technologies (India) (up 0.31%), Whirlpool of India (up 0.17%) and Crompton Greaves Consumer Electricals (up 0.14%) advanced.

On the other hand, Rajesh Exports (down 1.02%), Bata India (down 0.99%) and Orient Electric (down 0.96%) edged lower.

Stocks in Spotlight:

GE T&D India rallied 4.65% after the company announced that it has secured orders worth Rs 370 crore from Power Grid Corporation of India (PGCIL).

Tanla Platforms advanced 2.23% after the company extended an exclusive partnership with Truecaller for business messaging. The partnership aims to help enterprises connect with their end-users and offer highly customized solutions, including rich media and engaging content.

Tata Elxsi shed 0.08%. Tata Elxsi and Telef�nica announced a groundbreaking achievement in the realm of the automation of cloud infrastructure for telecommunications. Through this collaboration, Tata Elxsi and Telef�nica have enhanced the capabilities of OSM, introducing innovative features such as infrastructure automation, serverless operarions execurion environments, and the deployment of multi-cloud Platform-as-a-Service (PaaS) solutions.

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