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Broader mkt outperforms; consumer durables advance

Published on Jan 11, 2024 10:32

The headline equity indices traded with minor gains in morning trade. The Nifty traded above the 21,650 mark. Consumer durables shares gained for the third consecutive trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 120.50 points or 0.17% to 71,778.21. The Nifty 50 index added 39.10 points or 0.18% to 21,657.80.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.68% and the S&P BSE Small-Cap index gained 0.68%.

The market breadth was strong. On the BSE, 2,454 shares rose and 1,081 shares fell. A total of 154 shares were unchanged.

Results Today:

Tata Consultancy Services (up 1.14%), Infosys (down 0.47%), HDFC Asset Management Company (up 0.71%), 5paisa Capital (down 1.46%), AGI Infra (up 0.02%), GTPL Hathway (up 0.63%) and Plastiblends India (up 1.44%) will announced their quarterly earnings later today.

Buzzing Index:

The Nifty Consumer Durables index rallied 1.40% to 31,961.70. The index gained 2.21% in three trading sessions.

Havells India (up 5.07%), Voltas (up 3.22%), Dixon Technologies (India) (up 1.32%), Amber Enterprises India (up 1.15%), Relaxo Footwears (up 0.96%), TTK Prestige (up 0.81%), Rajesh Exports (up 0.73%), V-Guard Industries (up 0.69%), Blue Star (up 0.55%) and Crompton Greaves Consumer Electricals (up 0.53%) edged higher.

Stocks in Spotlight:

Nuvama Wealth Management shed 0.43%. Nuvama Asset Management, the alternatives-focused asset management arm of Nuvama Wealth Management, and Cushman & Wakefield, a leading global commercial real estate services firm, announced the formation of a new 50:50 joint venture entity, Nuvama and Cushman & Wakefield Management Private Limited (NCW). The new entity will act as a platform offering full suite of capabilities for investing in commercial real estate.

Atul advanced 1.24% after the wholly-owned subsidiary of the company Atul Products (APL) has received required approval / licences and commenced its operations of 300 tpd caustic and 50 MW power plant situated at Atul site.

Safari Industries (India) rose 0.93%. The meeting of the board of directors of the company is scheduled on 15 January 2024 to consider and approve raising of funds by way of issue of securities to one or more persons on preferential basis.

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