Indices extend gains; PSU banks advance

The domestic benchmarks extended gains in morning trade. The Nifty climbed above the 17,700 level. PSU bank shares witnessed buying demand.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 326.84 points or 0.55% to 60,173.35. The Nifty 50 index added 97.25 points or 0.55% to 17,721.30.

In the broader market, the S&P BSE Mid-Cap index gained 0.45% while the S&P BSE Small-Cap index rose 0.67%.

Buyers outnumbered sellers. On the BSE, 2,214 shares rose and 935 shares fell. A total of 120 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 882.52 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 351.50 crore in the Indian equity market on 10 April, provisional data showed.

Buzzing Index:

The Nifty PSU Bank index gained 2.14% to 3,793.90. The index declined 0.63% in the past trading session.

Punjab & Sind Bank (up 5.19%), Bank of Baroda (up 2.98%), Union Bank of India (up 2.93%), UCO Bank (up 2.81%) and Central Bank of India (up 2.45%), Canara Bank (up 2.15%), Bank of India (up 2.12%), Indian Overseas Bank (up 1.99%), Bank of Maharashtra (up 1.91%) and State Bank of India (up 1.36%) advanced.

Stocks in Spotlight:

Shilpa Medicare zoomed 10.63% after the drug maker said that it has received U.S Food and Drug Administration (US FDA) final approval for its abbreviated new drug application (ANDA), Apremilast Tablets, 10 mg, 20 mg, and 30 mg for the treatment of adult patients with active psoriatic arthritis.

Kalpataru Power Transmission Limited (KPTL) jumped 3.80%. The company & its international subsidiaries have secured new orders/notification of awards of Rs 3,079 crore in March 2023 and till date in April 2023.

Neogen Chemicals surged 4.13% after the company announced the signing of an agreement with MU Ionic Solutions Corporation, Japan for acquiring the manufacturing technology license for electrolytes in India.

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