Nifty trades above 10,150 mark; Banking, Metal stocks up

Benchmark share indices held on their gains helped by a sharply higher opening in European markets, that signaled a revival in investor sentiment as fears of a global trade war eased.

Gains in shares of public-sector banks and metal stocks also supported domestic indices. The Nifty PSU Bank index was up over 2.5% and was the top gainer among sectoral indices, while the Nifty Metal index rose 1.5%.

However, caution ahead of expiry of the March derivatives series on Wednesday and a holiday-truncated week limited gains.

At 2:12 PM, the BSE Sensex was trading at 33,226, up 161 points, while the Nifty50 index was trading at 10,191, up 61 points.

The BSE Midcap and the BSE Smallcap indices rose 1.20% and 1.39%, respectively.

Shares of Bandhan Bank made a strong debut on the NSE, as the scrip got listed at Rs499, a 33% premium to the issue price of Rs375. The stock is currently trading at Rs474.30, up by Rs99.3 or 26.48% from its previous closing of Rs375 on the BSE.

JMC Projects (India) has secured new orders of Rs634 cr. The orders include construction of residential and commercial projects in South India totaling Rs509cr and construction of office complex for Karnataka Power Transmission Corporation in Bangalore for Rs125cr. The stock rallied over 3%.

Volatility index India VIX slipped 3.02% to 14.7350.

IOC (+3.6%), HPCL (+3.1%), SBI (+3.1%), Bajaj Fin (+3%) and Indiabulls HF (+2.6%) were the top gainers on Nifty50.

Infratel (-2.7%), Airtel (-2.4%), Bajaj Auto (-1.5%), HCL Tech (-0.64%) and Hero MotoCorp (-0.62%) were the top losers in today’s trade.

Out of 2,021 stocks traded on the NSE, 1,330 advanced, 364 declined and 327 remained unchanged today.

A total of 10 stocks registered a fresh 52-week high in trade today, while 101 stocks touched a new 52-week low on the NSE.


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