Sensex, Nifty at the high point of the day

The domestic equity benchmarks reversed losses and hit the day`s high in morning trade. The Nifty was trading a tad below the 17,250 mark. PSU banks, however, declined for the second consecutive session.

At 10:21 IST, the barometer index, the S&P BSE Sensex, was up 137.15 points or 0.24% to 57,943.64. The Nifty 50 index added 33.75 points or 0.2% to 17,247.35.

In the broader market, the S&P BSE Mid-Cap index shed 0.09% while the S&P BSE Small-Cap index gained 0.50%.

The market breadth was strong. On the BSE, 1940 shares rose and 1163 shares fell. A total of 108 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index slipped 0.46% to 2,497.45. the index has declined 1.20% in two sessions.

Bank of Baroda (down 0.93%), Punjab National Bank (down 0.92%), Canara Bank (down 0.73%), Union Bank of India (down 0.57%), Bank of India (down 0.29%), SBI (down 0.21%) and Indian Bank (down 0.18%) declined.

However, Punjab & Sind Bank (up 0.94%), Indian Overseas Bank (up 0.49%), Jammu and Kashmir Bank (up 0.42%), UCO Bank (up 0.39%) and Central Bank of India (up0.25%) bucked the trend.

Stocks in Spotlight:

Indian Hotels Company shed 0.69% to Rs 180.70. After the acquisition of balance 14.28% equity stake in ELEL Hotels and Investments (ELEL), which is holding the leasehold rights of the erstwhile Sea Rock hotel, ELEL has become a wholly owned subsidiary of the company.

Deep Industries advanced 7.64% to Rs 156.35. The company has received letter of award from GSPC LNG (GLL) for hiring of gas compression services at GSPC LNG Terminal, Mundra, Gujarat, for a period of 5 years. The total estimated value of the contract is approximate Rs 44.40 crore.

KPI Global Infrastructure jumped 4.33% to Rs 321.75. The company has received confirmation of the order for executing solar power project of 10 MWDC capacity from Colourtex Industries, Surat under `captive power producer (CPP)` segment.

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