The key equity indices continued to trade near the flatline with some positive bias in the morning trade. The Nifty traded above the 25,550 mark. PSU Bank shares gained for a fourth day in a row.
At 10:29 ST, the barometer index, the S&P BSE Sensex, rose 16.43 points or 0.02% to 83,771.21. The Nifty 50 index added 6.95 points or 0.03% to 25,557.75.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.57% and the S&P BSE Small-Cap index added 0.66%.
The market breadth was strong. On the BSE, 2,278 shares rose and 1,061 shares fell. A total of 155 shares were unchanged.
Buzzing Index:
The Nifty PSU Bank index added 0.90% to 7,045.35. The index rallied 3% in the four trading sessions.
Punjab & Sind Bank (up 1.19%), Bank of Baroda (up 1.14%), Bank of Maharashtra (up 1.13%), Bank of India (up 1%) and State Bank of India (up 0.9%), Punjab National Bank (up 0.79%), Union Bank of India (up 0.78%), Indian Overseas Bank (up 0.48%), Central Bank of India (up 0.39%) and UCO Bank (up 0.16%) added.
Stocks in Spotlight:
Deep Industries rose 0.55%. The company announced that it has secured an order worth Rs 45.33 crore from Oil India for the hiring of one Mobile Workover Rig Package.
Associated Alcohols & Breweries jumped 4.83% after the company launched its premium blended malt whisky ‘Hillfort’ in Uttar Pradesh, available across select retail outlets.
Western Carriers (India) soared 7.78% after the company announced that it has secured a work order worth approximately Rs 230 crore from Jindal Stainless (JSL).