The headline equity benchmarks traded with modest gains in morning trade. The Nifty traded above the 25,400 level. IT stocks extended gains for the third consecutive trading session.
At 10:30 ST, the barometer index, the S&P BSE Sensex, jumped 330.46 points or 0.42% to 83,041.13. The Nifty 50 index rose 88.15 points or 0.35% to 25,418.40.
In the broader market, the S&P BSE Mid-Cap index rose 0.30% and the S&P BSE Small-Cap index added 0.18%.
The market breadth was strong. On the BSE, 2,324 shares rose and 1,410 shares fell. A total of 206 shares were unchanged.
Buzzing Index:
The Nifty IT index rose 0.98% to 36,804.75. The index extended its winning streak to a third consecutive session, gaining 2.51%.
LTIMindtree (up 2.53%), Wipro (up 1.68%), Infosys (up 1.5%), Coforge (up 1.29%), HCL Technologies (up 1.25%), Mphasis (up 1.22%), Tata Consultancy Services (up 0.45%), Persistent Systems (up 0.44%), Tech Mahindra (up 0.41%) and Oracle Financial Services Software (up 0.09%) added.
Stocks in Spotlight:
Colab Platforms locked in the upper circuit of 2% after the company has signed a non-binding Memorandum of Understanding (MoU) with RRP Drones Innovation to collaborate on developing autonomous AI-powered aerial surveillance drones.
Avantel added 2.06% after the company announced that it has received a purchase order worth Rs 12.51 crore for the supply of Satcom products from Bharat Electronics (BEL).
Cochin Shipyard rose 0.55%. The company announced that it has secured an order worth Rs 200 crore from Oil and Natural Gas Corporation (ONGC) for dry dock or major lay-up repairs of jack-up rigs.