Market Commentary - Mid-Session
Nifty above 24,800 level, consumer durables shares rallies for 9th day As on : 22-Aug-24  10:33

The equity benchmarks traded with minor gains in morning trade. The Nifty traded above the 24,800 level. Consumer durables shares rallied for the ninth consecutive trading sessions. Trading could be volatile due to weekly F&O series expiry today.

At 10:30 ST, the barometer index, the S&P BSE Sensex, added 107.68 points or 0.13% to 81,0.14.03. The Nifty 50 index rose 39.70 points or 0.16% to 24,809.03.

In the broader market, the S&P BSE Mid-Cap index added 0.45% and the S&P BSE Small-Cap index gained 0.44%.

The market breadth was strong. On the BSE, 2,263 shares rose and 860 shares fell. A total of 121 shares were unchanged.

Buzzing Index:

The Nifty Consumer Durables index added 0.72% to 40,942.15. The index advanced 7.56% in nine consecutive trading sessions.

Kalyan Jewellers India (up 7.66%), Rajesh Exports (up 2.91%), Blue Star (up 1.71%), Bata India (up 1.16%), Century Plyboards (India) (up 0.75%), Whirlpool of India (up 0.59%), Crompton Greaves Consumer Electricals (up 0.44%), Titan Company (up 0.42%), Amber Enterprises India (up 0.22%) and Cera Sanitaryware (up 0.05%) advanced.

On the other hand, Kajaria Ceramics (down 0.92%), Havells India (down 0.52%) and Voltas (down 0.36%) declined.

Stocks in Spotlight:

Indian Renewable Energy Development of India (IREDA) jumped 6.59% after the company's board said that it will meet on 29 August 2024, to consider raising funds up to Rs 4,500 crore through different modes.

Kilburn Engineering added 1.63% after the company announced that its board is scheduled to meet on Monday, 26 August, 2024, to consider the proposal for raising of funds.

BEML gained 2.18% after the company partnered with Indian Navy to develop advanced marine applications for defence.

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