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Nifty near 19,750 mark, PSU banks advance

Published on Nov 20, 2023 10:34

The benchmark indices pared losses and traded with small gains in morning trade. The Nifty traded around the 19,750 mark after hitting the day`s low of 19,701.40. PSU bank shares edged higher after declining in the past trading session.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 17.48 points or 0.03% to 65,812.21. The Nifty 50 index added 19.20 points or 0.10% to 19,751.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.37% while the S&P BSE Small-Cap index gained 0.65%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index hit record high of 33,526.65 and 39,863.26 respectively.

The market breadth was strong. On the BSE, 2080 shares rose and 1,419 shares fell. A total of 186 shares were unchanged.

Buzzing Index:

The Nifty IT index added 0.84% to 32,461.80. The index shed 0.25% in the past trading session.

HCL Technologies (up 1.21%), Mphasis (up 1.06%), L&T Technology Services (up 0.99%), LTIMindtree (up 0.98%), Tech Mahindra (up 0.85%), Wipro (up 0.56%), Tata Consultancy Services (up 0.38%), Infosys (up 0.34%), Coforge (up 0.33%) and Persistent Systems (up 0.17%) edged higher.

Stocks in Spotlight:

ESAF Small Finance Bank rose 1.34% after the bank reported standalone net profit of Rs 140.12 crore in Q2 FY24, steeply higher from Rs 57.58 crore recorded in Q2 FY23. The bank�s total income stood at Rs 1,022.28 crore in Q2 FY24, registering a growth of 35.72% YoY.

Zen Technologies advanced 2.69% after the company said that it has received an export order valued at approximately Rs 42 crore ($5.12 million). This order, comprising of simulators, is from a friendly nation and stands as a testament to the Indian government�s efforts to boost defense exports, aligning with the national objective of becoming a net defense exporter.

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