NIFTY SCALE ABOVE 25,100; IT SHARES RALLY FOR 4TH DAY

The key equity indices traded with modest gains in morning trade. The Nifty traded above the 25,100 level after hitting the day�s low of 25,017.50 in early trade. IT shares extended gains for the fourth consecutive trading session. Trading could be volatile due to August F&O series expiry today.

At 10:30 IST, the barometer index, the S&P BSE Sensex was up 238.94 points or 0.29% to 82,024.35. The Nifty 50 index added 55.50 points or 0.22% to 25,107.85.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.12% and the S&P BSE Small-Cap index fell 0.16%.

The market breadth was negative. On the BSE, 1,743 shares rose and 1,862 shares fell. A total of 160 shares were unchanged.

Buzzing Index:

The Nifty IT index gained 0.55% to 42,627.30. The index rallied 3.74% in four consecutives trading sessions.

HCL Technologies (up 1.12%), Wipro (up 0.92%), Tata Consultancy Services (up 0.80%), Tech Mahindra (up 0.74%), L&T Technology Services (up 0.50%), Persistent Systems (up 0.45%), Infosys (up 0.33%) and Coforge (up 0.01%) advanced.

On the other hand, LTIMindtree (down 0.45%) and Mphasis (down 0.06%), edged lower.

Stocks in Spotlight:

Genus Power Infrastructures was locked in 5% upper circuit after the company said that its wholly owned subsidiary has received three letter of award (LoA) of Rs 4,469.04 crore for appointment as AMISP.

Procter & Gamble Hygiene & Health Care slipped 2.83% after the company�s standalone net profit declined 46.4% to Rs 81.06 crore in the quarter ended 30 June 2024 as compared with Rs 151.24 crore posted in same quarter last year. Revenue increased 9.3% YoY to Rs 927.43 crore during the quarter.

Powered by Capital Market - Live News