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Nifty above 21,800 level; IT shares in demand

Published on Feb 06, 2024 10:29

The domestic equity benchmarks traded with limited gains in morning trade. The Nifty traded above 21,800 level. IT shares gained after declining in the past trading session.

At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 203.85 points or 0.28% to 71,935.27. The Nifty 50 index added 59.40 points or 0.27% to 21,831.10.

In the broader market, the S&P BSE Mid-Cap index rose 0.45% and the S&P BSE Small-Cap index gained 0.87%.

The market breadth was strong. On the BSE, 2,209 shares rose and 1,356 shares fell. A total of 166 shares were unchanged.

The Reserve Bank of India (RBI) Governor-headed six-member Monetary Policy Committee (MPC) meeting is scheduled from 6 February to 8 February 2024.

Result Today

Britannia Industries (down 0.43%), FSN E-Commerce Ventures (Nykaa) (down 0.19%), Azad Engineering (down 0.50%), Birla Corporation (up 2.36%), Blue Jet Healthcare (down 1.56%), Computer Age Management Services (up 1.30%), Endurance Technologies (up 1.80%), Godrej Properties (down 0.01%), J B Chemicals & Pharmaceuticals down (0.50%), JK Tyre & Industries (up 0.58%), Lemon Tree Hotels (up 2.07%), Max Financial Services (up 3.52%), Navin Fluorine International (up 0.43%), Nazara Technologies (up 3.68%), NLC India (3.28%), Trident (up 4.02%), Tata Teleservices (Maharashtra) (up 0.26%), Welspun Corp up (1.38%), and Zaggle Prepaid Ocean Services (up 0.20%) will announced their quarterly earnings later today.

New Listing:

Shares of BLS E-Services were currently trading at Rs 327.95 at 10:37 IST on the BSE, representing a premium of 142.93% as compared with the issue price of Rs 135.

The scrip was listed at Rs 309, exhibiting a premium of 128.89% to the issue price.

So far, the stock has hit a high of 347.90 and a low of 302.75. On the BSE, over 16.42 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty IT index rallied 2.24% to 37,994. The index declined 0.43% in the past trading session.

Tata Consultancy Services (up 3.72%), Wipro (up 2.78%), Coforge (up 2.71%), Mphasis (up 2.71%) and HCL Technologies (up 2.64%), Infosys (up 1.64%), Tech Mahindra (up 1.52%), L&T Technology Services (up 1.51%), Persistent Systems (up 1.36%) and LTIMindtree (up 0.53%) advanced.

Stocks in Spotlight:

Zydus Lifesciences rallied 4.93% after the company said its board will consider a share buyback on Friday, 9 February 2024.

Ashok Leyland rose 0.20% after the company reported 60.51% jump in standalone net profit to Rs 580 crore in Q3 FY24 as compared with Rs 361.34 crore in Q3 FY23. Revenue from operations increased 2.69% to Rs 9,273 crore in Q3 FY24 as compared with Rs 9,026 crore posted corresponding quarter last year.

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