Sensex adds 132 pts; broader mkt outperforms

The domestic equity benchmarks extended gains in the morning trade. The Nifty traded above the 18,100 level. Metal shares witnessed buying demand.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 132.25 points or 0.22% to 61,325.55. The Nifty 50 index added 43.90 points or 0.24% to 18,133.75.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index gained 0.60% while the S&P BSE Small-Cap index rose 0.66%.

The market breadth was strong. On the BSE, 2,138 shares rose and 1,021 shares fell. A total of 133 shares were unchanged.

The Federal Reserve raised its benchmark borrowing rate by widely expected, 25 basis points. The increase takes the fed funds rate to a target range of 5%-5.25%, the highest since August 2007.

Results Today:

Tata Power Company (down 0.52%), Adani Enterprises (up 1.22%), Hero MotoCorp (up 0.19%), TVS Motor Company (up 0.08%), Ceat (up 1.23%), Dabur India (up 0.20%), Blue Star (up 0.04%), United Breweries (down 0.15%), Firstsource Solutions (up 0.13%), Sundram Fasteners (up 1.32%), Mindspace Business Parks REIT (up 0.70%), 360 ONE WAM (down 0.24%), Aptus Value Housing Finance India (up 2.23%), Housing Development Finance Corporation (up 0.54%), IDFC (down 0.91%), Bombay Dyeing and Manufacturing Company (down 1.37%), Filatex India (up 5.64%), Jammu and Kashmir Bank (down 0.21%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty Metal index rose 0.93% to 5,878.30. The index declined 0.98% in the past trading session.

Adani Enterprises (up 1.53%), Tata Steel (up 1.32%), Jindal Steel & Power (up 1.31%), NMDC (up 1.23%), APL Apollo Tubes (up 1.1%), Steel Authority of India (up 0.94%), National Aluminium Company (up 0.73%), Hindustan Copper (up 0.71%), JSW Steel (up 0.62%) and Hindalco Industries (up 0.57%) advanced.

Stocks in Spotlight:

Bosch rose 0.55%. Markus Bamberger has resigned as chairman and director of the company with effect from close of business hours on 1 August 2023. Bamberger`s resignation is a part of succession planning.

Adani Ports and Special Economic Zone fell 0.20%. The company announced that it had handled 32.3 MMT of total cargo in April 2023, implying a YoY growth of 12.8%. APSEZ had handled a cargo volume of 28.64 MMT in April 2022.

Angel One declined 0.67%. The stockbroker announced that its client base jumped 46.6% to 14.13 million in April 2023 as against 9.64 million in April 2022. On sequential basis, the company`s client base rose by 2.6% month on month (MoM) from 13.78 million clients in March 2023.

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