Partner With Us NRI

Indices trade with decent gains; auto shares rally

Published on Jan 11, 2024 11:35

The key equity indices continued to trade with moderate gains in mid-morning trade. The Nifty hovered above the 21,650 mark. Auto shares advanced for the third consecutive trading session.

At 11.27 IST, the barometer index, the S&P BSE Sensex, was up 104.90 points or 0.15% to 71,762.61. The Nifty 50 index added 35.65 points or 0.16% to 21,654.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.67% and the S&P BSE Small-Cap index gained 0.75%.

The market breadth was strong. On the BSE, 2,396 shares rose and 1,270 shares fell. A total of 121 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Jyoti CNC Automation received bids for 12,83,66,505 shares as against 1,75,39,681 shares on offer, according to stock exchange data at 11:18 IST on Thursday (11 January 2024). The issue was subscribed 7.32 times.

The issue opened for bidding on Tuesday (9 January 2024) and it will close on Thursday (11 Thursday 2024). The price band of the IPO is fixed at Rs 315-331 per share. An investor can bid for a minimum of 45 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Auto index added 1.02% to 18,748.65. The index gained 2.17% in three trading sessions.

Hero MotoCorp (up 3.3%), TVS Motor Company (up 2.43%), Balkrishna Industries (up 2.39%), Bajaj Auto (up 1.95%), Tube Investments of India (up 1.89%), (up 1.26%), MRF (up 1.19%), Samvardhana Motherson International (up 1.05%), Bosch (up 0.85%) and Tata Motors (up 0.77%) rallied.

Stocks in Spotlight:

Thirumalai Chemicals rose 1.64% after the company�s wholly owned subsidiary, TCL Intermediates has commenced the commercial operations of its Greenfield plant at Dahej, Gujarat from Wednesday, 10 January 2024.

Bank of India advanced 2.50% after the bank said that its total global deposits rose by 8.66% to Rs 7,10,307 crore as on 31 December 2023 from Rs 6,53,691 crore as on 31 December 2022.

Global Markets:

Asian stocks were trading higher tracking overnight gains on Wall Street, with Japanese indices extending record-breaking rally. The Bank of Korea left its main lending rate unchanged at 3.50% for the eight time in a row.

US stocks ended higher on Wednesday led by communications stocks and megacaps. Investors are awaiting the U.S. consumer price index report slated for release Thursday. The producer price index reading is due on Friday.

Powered by Capital Market - Live News