Market Commentary - Mid-Session
Nifty scale above 26,250; metal shares rally for 6th day As on : 27-Sep-24  10:35

The domestic equity benchmarks traded with limited gains in morning trade. The Nifty traded above the 26,250 mark. Metal shares witnessed buying demand for the sixth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex rose 117.22 points or 0.14% to 85,953.34. The Nifty 50 index added 52.95 points or 0.20% to 26,269.

The Sensex and Nifty clocked an all-time high of 85,966.03 and 26,271.85, respectively in morning trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.35% and the S&P BSE Small-Cap index gained 0.56%.

The market breadth was strong. On the BSE, 2,234 shares rose and 1,350 shares fell. A total of 157 shares were unchanged.

Buzzing Index:

The Nifty Metal index gained 1.66% to 10,151.05. The index jumped 9.72% in six consecutive trading sessions.

National Aluminium Company (up 3.61%), Hindalco Industries (up 2.77%), Steel Authority of India (up 2.5%), Vedanta (up 2.4%), Welspun Corp (up 2.31%), Ratnamani Metals & Tubes (up 2.22%), Tata Steel (up 1.93%), Hindustan Zinc (up 1.54%), Jindal Steel & Power (up 1.43%) and NMDC (up 1.3%) advanced.

Stocks in Spotlight:

RailTel Corporation of India advanced 1.92% after the company announced that it has received the work order from Rural Development Department, Mantralaya, Maharashtra, amounting to Rs 155.71 crore.

PC Jeweller hit an upper circuit of 5% after the Bank of India submitted its approval to the One Time Settlement (OTS) proposal submitted by the company to settle the outstanding dues.

Lemon Tree Hotels rose 0.70%. The company said that it has signed a license agreement viz Lemon Tree Hotel, Sasan Gir, Gujarat.

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