SENSEX GAINS 229 PTS; PRIVATE BANK SHARES IN DEMAND
Published on Jan 20, 2025 10:36
The frontline indices traded with modest gains in the morning trade. The Nifty traded above the 23,250 mark after hitting the day�s low of 23,189.70 in early trade. Private bank shares rallied after declining in the past trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex, rose 229.32 points or 0.30% to 76,848.65. The Nifty 50 index added 48.20 points or 0.21% to 23,251.40.
In the broader market, the S&P BSE Mid-Cap index shed 0.27% and the S&P BSE Small-Cap index gained 0.06%.
The market breadth was positive. On the BSE, 2,067 shares rose and 1,601 shares fell. A total of 192 shares were unchanged.
Economy:
India�s foreign exchange (forex) reserves declined $8.714 billion to $625.871 billion in the week ended January 10, according to the latest RBI data.
For the week ended January 10, foreign currency assets, a major component of the reserves, decreased by $9.469 billion to $536.011 billion, the data released on Friday showed.
Gold reserves increased by $792 million to $67.883 billion during the week. The special drawing rights (SDRs) were down by $33 million to $17.781 billion, the RBI said.
India�s reserve position with the IMF was down by $4 million at $4.195 billion in the reporting week, the apex bank data showed.
Result Today:
AGI Greenpac (up 0.74%), One 97 Communications Paytm (down 0.06%), Zomato (up 0.96%), APL Apollo Tubes (up 1.34%), Central Bank of India (up 1.19%), Dixon Technologies (up 0.15%), IDBI Bank (down 0.87%), Indian Overseas Bank (up 2.09%), Indian Railway Finance Corporation (up 1.09%), ICICI Securities (down 0.48%), Jammu & Kashmir Bank (up 2.01%), L&T Finance (up 0.77%), MCX India (down 0.86%), Newgen Software Technologies (down 0.61%), Oberoi Realty (down 0.66%) and Sunteck Realty (up 0.28%) will declare their quarterly earnings later today.
New listing:
Shares of Laxmi Dental were currently trading at Rs 549.60 at 10:26 IST on the BSE, representing a premium of 28.41% as compared with the issue price of Rs 428.
The scrip was listed at Rs 528, exhibiting a premium of 23.36% to the issue price.
So far, the stock has hit a high of 559.40 and a low of 524.80. On the BSE, over 8.12 lakh shares of the company were traded in the counter so far.
Buzzing Index:
The Nifty Private Bank index gained 1.76% to 24,097.55. The index tumbled 2.17% in the past trading session.
Kotak Mahindra Bank (up 9.16%), HDFC Bank (up 0.24%), Bandhan Bank (up 0.20%), City Union Bank (up 0.12%).
On the other hand, RBL Bank (down 1.2%), Axis Bank (down 1.2%) and IndusInd Bank (down 1.11%) edged lower.
Kotak Mahindra Bank surged 9.16% after the private lender`s net profit jumped 9.97% to Rs 3,304.80 crore on 13.86% rise in total income to Rs 16,050.38 crore in Q3 FY25 over Q3 FY24.
Stocks in Spotlight:
Seshasayee Paper & Boards fell 3.76% after the company�s consolidated net profit declined 75.89% To Rs 16.63 crore in Q3 FY25 as compared with Rs 68.98 crore in Q3 FY24. Revenue from operations slipped 8.9% YoY to Rs 431.33 crore in Q3 FY25.
Rallis India tumbled 6.90% after the pesticides maker reported 54.17% drop in net profit to Rs 11 crore on 12.71% slide in revenue from operations to Rs 522 crore in Q3 FY25 over Q3 FY24.
Sterlite Technologies declined 1.17% after the company�s consolidated net loss of Rs 24 crore in Q3 FY25 as against a net loss of Rs 14 crore posted in Q2 FY25. Revenue from operations declined 10.76% quarter on quarter (QoQ) to Rs 1,261 crore in the third quarter of FY25.
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