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Broader mkt rallies; IT shares in demand

Published on Jun 21, 2024 10:32

The benchmark indices traded with small gains in morning trade. The Nifty traded near the 23,600 level. IT shares witnessed buying demand for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex was up 20.24 points or 0.02% to 77,499.17. The Nifty 50 index added 32.40 points or 0.14% to 23,599.40. The Nifty clocked an all-time high of 23,667.10 in early trade.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index added 0.44% and the S&P BSE Small-Cap index rose 0.40%.

The S&P BSE Small-Cap index hit an all-time high at 52,272.55.

The market breadth was positive. On the BSE, 1,933 shares rose and 1,255 shares fell. A total of 107 shares were unchanged.

Buzzing Index:

The Nifty IT index gained 2.07% to 35,658. The index rallied 3.06% in three consecutive trading sessions.

IT index, Coforge (up 2.2%), Persistent Systems (up 2.12%), Infosys (up 2.06%), LTIMindtree (up 2.04%), Tata Consultancy Services (up 1.71%), L&T Technology Services (up 1.64%), HCL Technologies (up 1.48%), Tech Mahindra (up 1.07%), Mphasis (up 1.03%) and Wipro (up 0.99%) advanced.

Stocks in Spotlight:

Sun Pharmaceutical Industries rose 0.81%. The compnay said that it has entered into a non-exclusive patent licensing agreement with Takeda Pharmaceutical Company (Takeda) to commercialise Vonoprazan tablets in India under the brand name "Voltapraz�.

Time Technoplast surged 8.53% after the company said that it has received final approval from Petroleum and Explosives Safety Organization (PESO) for manufacturing and supply of high-pressure type-iv composite cylinders for hydrogen.

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