Sensex jumps 656 pts, metal shares advance

The benchmark indices traded with significant gains in morning trade. The Nifty traded above the 21,650 mark. Metal shares witnessed bargain booking after declining in the past two trading sessions.

At 10:29 IST, the barometer index, the S&P BSE Sensex, was up 656.45 points or 0.92% to 71,843.31. The Nifty 50 index added 196.30 points or 0.91% to 21,658.55.

In the broader market, the S&P BSE Mid-Cap rose 1.16% and the S&P BSE Small-Cap index advanced 1.20%.

The market breadth was strong. On the BSE, 2,701 shares rose and 830 shares fell. A total of 148 shares were unchanged.

Results Today :

Reliance Industries (down 0.12%), Hindustan Unilever (down 0.22%), UltraTech Cement (up 0.57%), One 97 Communications (Paytm) (up 3.30%), RBL Bank (up 0.91%), Hindustan Zinc (up 1.40%), Atul (up 1.64%), Central Bank of India (up 0.97%), CESC, CreditAccess Grameen (up 1.14%), Hatsun Agro Product (down 0.31%), HT Media (up 0.03%), Sunteck Realty (up 0.78%), Tejas Networks (up 1.43%), and Websol Energy System (down 0.02%), will announce their quarterly earnings later today.

Buzzing Index:

The Nifty Metal index advanced 1.14% to 7,716.20. The index witnessed bargain hunting after sliding 3.94% in the past two trading sessions.

Hindustan Copper (up 2.97%), National Aluminium Company (up 1.75%), APL Apollo Tubes (up 1.61%), Tata Steel (up 1.6%) and NMDC (up 1.42%), Hindustan Zinc (up 1.33%), Steel Authority of India (up 0.97%), JSW Steel (up 0.97%), Jindal Steel & Power (up 0.96%) and Adani Enterprises (up 0.67%) rallied.

Stocks in Spotlight:

Lupin rose 0.22%. The drug major on Thursday announced that it has received an approval from the United States Food and Drug Administration (U.S. FDA) for its abbreviated new drug application for Febuxostat tablets.

Indian Bank rose 0.94%. The bank has received approval from RBI for setting up a new Wholly Owned Operations Support Subsidiary by the Bank.

Shalby advanced 1.76% after the company has announced a strategic investment in PK Healthcare Pvt with an acquisition of 87.26% equity stake for a consideration of Rs 102 crore (approx).

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