NIFTY HOLDS 25,100 LEVEL; EUROPEAN MKT OPENS HIGHER

The key equity indices traded with decent gains in afternoon trade. The Nifty traded above the 25,100 level after hitting the day`s low of 24,964.65 in morning trade. Media, financial services and pharma shares advanced while FMCG, consumer durables and metal shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex jumped 267.15 points or 0.32% to 81,974.77. The Nifty 50 index gained 88.85 points or 0.36% to 25,107.60.

The Nifty clocked an all-time high of 25,114.75 in afternoon trade.

In the broader market, The S&P BSE Mid-Cap index rose 0.19% and the S&P BSE Small-Cap index rose 0.12%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 49,099.45 and 56,416.31 respectively.

The market breadth was positive. On the BSE, 2,120 shares rose and 1,750 shares fell. A total of 113 shares were unchanged.

Gainers & Losers:

LTIMindtree (up 7.50%), Wipro (up 3.88%), Divi`s Laboratories (up 2.84%), Indusind Bank (up 2.73%) and Infosys (up 2.33%) were major Nifty gainers.

Hero Motocorp (down 1.34%), Maruti Suzuki India (down 1.07%), Asian Paints (down 0.96%), Britannia Industries (down 0.93%) and Adani Enterprises (down 0.90%) were major Nifty losers.

Stocks in Spotlight:

NBCC (India) zoomed 15.77% after the company said that its board will meet on 31 August 2024 to consider a proposal for issue of bonus shares to equity shareholders.

Zydus Lifesciences gained 1.65% after the pharma major received final approval from the United States Food and Drug Administration (USFDA) to market Amantadine extended-release capsules, 68.5 mg, and tentative approval for 137 mg.

Awfis Space Solutions added 0.56%. The company said that it has partnered with Nyati group for an additional 3 lakh square feet (Sq.ft) of grade-A workspace to enhance its current managed aggregation (MA) model in Pune.

Aditya Birla Capital (ABCL) rose 0.16%. The company announced that it has made an investment of Rs 300 crore in its wholly-owned subsidiary, Aditya Birla Housing Finance (ABHFL), through rights issue of equity shares.

Infibeam Avenues gained 2.01% after the company informed that it has bagged contract from chain of hospitals & gas station chain for its first AI products.

Roto Pumps jumped 4.66% after the company announced that it has received a purchase order worth Rs 11.89 crore in Dubai, for supply of progressive cavity pumps.

DCX Systems railled 3.81% after the company announced that it has received an order worth Rs 187.29 crore from overseas customer.

Advait Infratech was locked in 5% upper circuit after the company announced that it has received an order worth Rs 296 crore from the Solar Energy Corporation of India (SECI).

Global Markets:

European market advanced while Asian stocks traded mixed on Wednesday, as investors eagerly awaited fresh earnings reports and economic data to gauge the global stock market outlook.

While Wall Street`s major indices reached new highs, the Nasdaq Composite lagged, reflecting cautiousness about Nvidia`s earnings. Anticipation of lower interest rates led to a shift away from technology stocks and toward more economically sensitive sectors. The Dow Jones Industrial Average rose 0.02%, the S&P 500 gained 0.16%, and the Nasdaq Composite climbed 0.17%.

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