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Sensex adds 153 pts, metal stocks tumble

Published on Feb 24, 2023 10:31

The key equity indices traded with minor gains in morning trade. The Nifty traded around the 17,550 mark. Realty, pharma and healthcare stocks were in demand while metal, media and auto scrips corrected.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 153.02 points or 0.26% to 59,758.82. The Nifty 50 index gained 30.05 points or 0.17% to 17,541.30.

In the broader market, the S&P BSE Mid-Cap index added 0.21% while the S&P BSE Small-Cap index rose 0.31%.

The market breadth was positive. On the BSE, 1,840 shares rose and 1,229 shares fell. A total of 154 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,417.24 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,586.06 crore in the Indian equity market on 23 February, provisional data showed.

Buzzing Index:

The Nifty Metal index slipped 2.38% to 5,478.05. The index added 0.35% in the past trading session.

Hindalco Industries (down 4.11%), Adani Enterprises (down 3.65%), Jindal Steel & Power (down 3.04%), JSW Steel (down 2.94%), National Aluminium Company (down 2.93%), Vedanta (down 2.54%), Steel Authority of India (down 1.94%), Tata Steel (down 1.61%), Hindustan Copper (down 1.43%) and APL Apollo Tubes (down 0.49%) tumbled.

On the other hand, Hindustan Zinc (up 1.19%), Jindal Stainless (up 0.39%) and Welspun Corp (up 0.08%) edged higher.

Stocks in Spotlight:

Sanofi India rallied 3.60% after the company`s net profit surged 44.8% to Rs 130.9 crore in Q4 CY22 from Rs 90.40 crore in Q4 CY21. Revenue from operations fell 2.3% year on year (YoY) to Rs 671.90 crore in the quarter ended 31 December 2022.

Rail Vikas Nigam fell 1.62% after the company said that it has received a letter of award (LoA) from M. P. Madhya Kshetra Vidyut Vitaran Co. (MPMKVVCL) worth Rs 196.76 crore.

Olectra Greentech surged 13.33%. Olectra Greentech is set to offer the next-generation transport system to the Indian market. Olectra announced its Hydrogen Bus in technical partnership with Reliance.

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