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Indices trade with limited gains; Oil & gas shares rises

Published on Apr 10, 2024 10:35

The key equity barometers traded with moderate gains in morning trade. The Nifty traded above 22,650 mark. Oil & gas shares advanced after declining in the past trading session. Trading was volatile due to the expiry of weekly index options on the NSE.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 213.24 points or 0.28% to 74,899.78. The Nifty 50 index added 54.90 points or 0.24% to 22,697.65.

In the broader market, The S&P BSE Mid-Cap index rose 0.59% and the S&P BSE Small-Cap index added 0.46%.

The market breadth was positive. On the BSE, 1,789 shares rose and 1,645 shares fell. A total of 165 shares were unchanged.

Due to the observance of Ramadan Eid on 11 April 2024, the domestic market will be closed. Consequently, the Nifty weekly options expiry has been shifted to today.

Buzzing Index:

The Nifty Oil & Gas index advanced 1.77% to 11,824.40. The index shed 0.44% in the past trading session.

Aegis Logistics (up 6.05%), Petronet LNG (up 4.99%), Hindustan Petroleum Corporation (up 3.48%), Bharat Petroleum Corporation (up 2.01%), Indian Oil Corporation (up 1.69%), Oil India (up 1.65%), Reliance Industries (up 1.3%), Mahanagar Gas (up 1.27%), Gujarat State Petronet (up 1.26%) and GAIL (India) (up 1.18%) advanced.

Stocks in Spotlight:

Paisalo Digital added 2.32% after the company�s assets under management (AUM) grew by 32% to approximately Rs 4,622 crore as of 31 March 2024 as compared to Rs 3,492 crore as of 31 March 2023.

Shyam Metalics and Energy advanced 1.15% after the company announced the establishment of a new Stainless Steel Hot Rolled Coils (HRC) facility at its existing plant in Sambalpur, Odisha as a part of its expansion plan. The company is strategically positioning itself for accelerated growth and expansion in the Stainless Steel market.

Exide Industries shed 0.12%. The company has entered into an agreement for acquiring 26% equity stake in "Clean Max Arcadia Private Limited", a Special Purpose Vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions Pvt Ltd. for generation and supply of solar power.

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