Market Commentary - Mid-Session
Barometers trade with decent gains; metal shares shine As on : 12-Sep-24  10:38

The headline equity benchmarks traded with moderate gains in morning trade. The Nifty traded near the 25,000 level. Metal shares advanced after declining in the previous trading session. Trading could be volatile due to weekly F&O series expiry today.

At 10:30 IST, the barometer index, the S&P BSE Sensex, rose 203.46 points or 0.25% to 81,727.89. The Nifty 50 index added 83.05 points or 0.31% to 25,001.50.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.73% and the S&P BSE Small-Cap index gained 0.37%.

The market breadth was positive. On the BSE, 2,109 shares rose and 1,456 shares fell. A total of 192 shares were unchanged.

New Listing:

Shares of Shree Tirupati Balajee Agro Trading Company were currently trading at Rs 97.54 at 10:15 IST on the BSE, representing a premium of 17.52% as compared with the issue price of Rs 83.

The scrip was listed at Rs 92.90, exhibiting a premium of 11.93% to the issue price.

So far, the stock has hit a high of 97.54 and a low of 92. On the BSE, over 14.69 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Metal index rose 0.77% to 9,098.15. The index fell 1.90% in the past trading session.

Tata Steel (up 1.65%), Vedanta (up 1.48%), NMDC (up 1.37%), Jindal Steel & Power (up 1.35%), Hindalco Industries (up 1.24%), Hindustan Zinc (up 1.03%), JSW Steel (up 0.91%), Hindustan Copper (up 0.83%), National Aluminium Company (up 0.74%) and Steel Authority of India (up 0.66%) advanced.

Stocks in Spotlight:

Inox Wind advanced 2.83% after the company informed that its EPC projects subsidiary Global Wind Services has completed Rs 350 crore equity raise from marquee investors.

Infosys added 0.43%. The company has collaborated with Clearstream, part of Deustsche B'rse, to enhance the digital issuance platform.

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