Market Commentary - Mid-Session
The key equity barometers traded with minor gains in the morning trade. The Nifty traded near the 22,900 level. PSU bank shares extended gains for the second consecutive trading session.
At 10:28 IST, the barometer index, the S&P BSE Sensex, advanced 152.61 points or 0.20% to 75,453.87. The Nifty 50 index added 62 points or 0.27% to 22,896.30.
In the broader market, the S&P BSE Mid-Cap index rose 0.65% and the S&P BSE Small-Cap index added 1.20%.
The market breadth was strong. On the BSE, 2,411 shares rose and 597 shares fell. A total of 127 shares were unchanged.
Buzzing Index:
The Nifty PSU Bank index advanced 1.33% to 5,980.95. The index rallied 3.65% in the past two consecutive trading sessions.
Bank of India (up 2.6%), Indian Overseas Bank (up 2.22%), UCO Bank (up 2.19%), Punjab & Sind Bank (up 2.18%), Central Bank of India (up 2.15%), Indian Bank (up 2.04%), Bank of Maharashtra (up 2.02%), Union Bank of India (up 1.95%), Punjab National Bank (up 1.48%) and Bank of Baroda (up 1.18%) advanced.
Stocks in Spotlight:
Insolation Energy jumped 5.26% after the company announced that its wholly owned subsidiary, Insolation Green Energy, had secured two major orders totaling Rs 733.04 crore from KPI Green Energy.
Premier Explosives added 3.27% after the company announced that it had received an export order worth Rs 18.90 crore from international clients.
Bharat Petroleum Corporation (BPCL) rose 1.58% after the company said that it has entered into a quadripartite memorandum of understanding (MoU) with BluJ Aerospace, the Agency for New and Renewable Energy Research and Technology (ANERT), the Government of Kerala, and Cochin International Airport (CIAL) to develop the first hydrogen-fueled Vertical Take-off and Landing (VTOL) aircraft ecosystem globally.
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