Sensex spurts 742 pts, Nifty above 15,550 mark

The benchmark indices marched higher and hit the day`s high in the morning trade. The Nifty traded above the 15,550 mark. All the sectoral indices on the NSE were in the green with media, consumer durables and realty stocks recording big gains.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 742.5 points or 1.44% to 52,340.34. The Nifty 50 index gained 227.35 points or 1.48% to 15,577.50.

In the broader market, the S&P BSE Mid-Cap index gained 1.74% while the S&P BSE Small-Cap index advanced 2.24%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 2,287 shares rose and 668 shares fell. A total of 116 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,217.12 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,093.39 crore in the Indian equity market on 20 June, provisional data showed.

Buzzing Index:

The Nifty Consumer Durables index advanced 3.02% to 22,899.10. The index rose 0.17% on Monday.

Titan Company (up 4.68%), Dixon Technologies (India) (up 3.85%), Relaxo Footwears (up 3.27%), Voltas (up 2.43%), Whirlpool of India (up 1.86%), Bata India (up 1.81%), Havells India (up 1.55%), TTK Prestige (up 1.16%), Orient Electric (up 1.01%) and Blue Star (up 0.95%) edged higher.

Stocks in Spotlight:

KEC International gained 2.76% after the company said it secured new orders worth Rs 1,092 crore across its various businesses. The company has secured orders for transmission & distribution (T&D) projects in India, Middle East and Americas. It has also received an order for 2 x 25 kilovolt (kV) overhead electrification (OHE) & associated works for speed upgradation (Mission `Raftaar`) in India. Further, the company won orders in the residential, industrial and defence segments in India. It has also secured orders for various types of cables in India and overseas.

Suven Life Science surged 12.84% after the company announced that its board will consider a rights issue of shares on 24 June 2022. The company plans to raise funds through issue of equity shares of the company on rights basis to the existing equity shareholders of the company. The board will also discuss other matters related/ incidental thereto including the constitution of a committee of board of directors namely `Rights Issue Committee` to implement the proposal of rights issue.

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