SENSEX CLIMBS 303 PTS; PSU BANKS ADVANCE

The key equity benchmarks traded with decent gains in the morning trade. The Nifty traded above the 24,000 level. PSU bank shares gained after declining in the past trading sessions.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was up 303.58 points or 0.38% to 79,531.09. The Nifty 50 index added 101.10 points or 0.42% to 24,145.60.

The Sensex and Nifty clocked an all-time high of 79,671.58 and 24,174, respectively in morning trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.51% and the S&P BSE Small-Cap index added 0.60%.

The market breadth was strong. On the BSE, 2,190 shares rose and 1,388 shares fell. A total of 162 shares were unchanged.

New Listing:

Shares of Stanley Lifestyles were currently trading at Rs 497.20 at 10:15 IST on the BSE, representing a premium of 34.74% as compared with the issue price of Rs 369.

The scrip was listed at Rs 499, exhibiting a 35.23% premium to the issue price.

So far, the stock has hit a high of 510 and a low of 482.25. On the BSE, over 9.73 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty PSU Bank index advanced 2.40% to 7,476.90. The index shed 0.92% in the past trading sessions.

Punjab National Bank (up 4.4%), Central Bank of India (up 2.92%), Canara Bank (up 2.4%), UCO Bank (up 2.03%), Indian Overseas Bank (up 1.94%), Indian Bank (up 1.91%), Punjab & Sind Bank (up 1.7%), State Bank of India (up 1.69%), Bank of India (up 1.31%) and Union Bank of India (up 1.2%) edged higher.

On the other hand, Bank of Baroda (down 0.23%) declined.

Stocks in Spotlight:

Brigade Enterprises rose 0.70%. The company announced the launch of Brigade Insignia, a premium residential project in Yelahanka, Bengaluru.

State Bank of India gained 1.70% after the bank raised Rs 10,000 crore via non-convertible long-term bonds.

JSW Infrastructure rallied 3.78% after the company received a letter of acceptance from Southern Railway for the construction of a multi-modal cargo terminal.

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