Market Commentary - Mid-Session
Sensex spurts 542 pts; Nifty Bank hits record high; metal shares shine As on : 20-Sep-24  10:34

The domestic equity benchmarks extended gains in morning trade. The Nifty marched above the 25,550 mark. Metal shares advanced after the declining in previous three consecutive trading sessions.

At 10:30 ST, the barometer index, the S&P BSE Sensex, advanced 542.76 points or 0.66% to 83,733.43. The Nifty 50 index added 167.90 points or 0.66% to 25,586.60.

The Sensex clocked an all-time high of 83,805.26 in morning trade. Further, the Nifty Bank hit a life high of 53,434.25 in intraday today.

In the broader market, the S&P BSE Mid-Cap index added 0.25% and the S&P BSE Small-Cap index rose 0.64%.

The market breadth was strong. On the BSE, 2,233 shares rose and 1,341 shares fell. A total of 174 shares were unchanged.

Buzzing Index:

The Nifty Metal index added 1.56% to 9,395.30. The index fell 0.69% in past three consecutive trading sessions.

JSW Steel (up 3.23%), NMDC (up 1.63%), Tata Steel (up 1.61%), Hindalco Industries (up 1.59%) and Hindustan Zinc (up 1.33%), Adani Enterprises (up 1.21%), Jindal Steel & Power (up 1.02%), National Aluminium Company (up 0.96%), Hindustan Copper (up 0.85%) and Jindal Stainless (up 0.84%) advanced.

Stocks in Spotlight:

IIFL Finance surged 9.76% after the Reserve Bank of India (RBI) has lifted the restrictions imposed on the gold loan business of the company.

Power Grid Corporation of India added 1.16% after the company said that it has declared a successful bidder for establishing an inter-state transmission system the Khavda project in Gujarat.

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