Indices trade with minor gains; media shares advance

The benchmark indices traded with decent gains in morning trade. The Nifty traded above the 20,850 level. Media shares advanced after witnessing selling pressure for two consecutive trading sessions.

At 10:26 AM IST, the barometer index, the S&P BSE Sensex, was up 149.06 points or 0.22% to 69,451.99. The Nifty 50 index added 43.65 points or 0.21% to 20,898.75.

The Sensex clocked an all-time high of 69,673.83 while the Nifty hit record high of 20,958.65. Further, the Nifty Bank index also registered its fresh record high of 47,259.85.

In the broader market, the S&P BSE Mid-Cap index advanced 0.23% while the S&P BSE Small-Cap index added 0.21%.

The market breadth was strong. On the BSE, 1,940 shares rose, and 1,507 shares fell. A total of 162 shares were unchanged.

Buzzing Index:

The Nifty media index advanced 1.26% to 2,352.95. The index declined 1.35% in the past two trading sessions.

Adani Enterprises (up 1.58%), Hindustan Zinc (up 0.35%), Steel Authority of India (up 0.31%), Vedanta (up 0.21%) and JSW Steel (up 0.11%), Ratnamani Metals & Tubes (up 0.02%) advanced.

On the other hand, Jindal Stainless (down 1.96%), Hindustan Copper (down 0.65%) and NMDC (down 0.49%) declined.

Stocks in Spotlight:

Ashok Leyland rose 0.14%. The company had invested a sum of GBP 62869841.54 (approximately Rs. 662.5 crores) in Optare Plc. UK by way of equity shares as first tranche. Consequent to the allotment by the Board of Directors of Optare Plc., the shareholding of the company in Optare Plc. has increased from 91.63% to 92.19%.

NLC India jumped 2.78% after the company has started bio-mass co-firing in its coal based thermal power station NLC Tamilnadu Power at Tuticorin on 5 December 2023.

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