Barometers trade sideways; bank shares in demand

The equity benchmark traded near flat line in morning trade. The Nifty traded above 21,650 mark. Bank shares gained after declining in the past trading session.

At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 12.99 points or 0.02% to 71,441.42. The Nifty 50 index shed 20.65 points or 0.09% to 21,697.30.

In the broader market, the S&P BSE Mid-Cap index shed 1.47% and the S&P BSE Small-Cap index declined 1.65%.

The market breadth was negative. On the BSE, 1,028 shares rose and 2,553 shares fell. A total of 136 shares were unchanged.

Result Today

Hero MotoCorp (up 0.22%), Tata Power Company (down 4.49%), Honasa Consumer (down 0.97%), Zydus Lifesciences (down 1.20%), Alkem Laboratories (down 1.01%), Bajaj Hindusthan Sugar (down 5.87%), Bandhan Bank (down 0.82%), Campus Activewear (down 0.02%), Cello World (down 1.57%), DOMS Industries (up 5.12%), Emami (down 1.33%), Finolex Cables (down 3.62%), Happy Forgings (down 1.77%), Inox Green Energy Services(down 4.86%), Indian Railway Finance Corporation (down 1.67%), MRF (down 0.34%), The New India Assurance Company (down 5.55%), Pfizer (down 1.36%), PI Industries (down 0.12%), Shree Renuka Sugars (down 3.30%), Shipping Corporation of India (down 6.34%), SJVN (down 6.94%), and Sundaram-Clayton (down 3.05%) will announced their quarterly earnings later today.

Buzzing Index:

The Nifty Bank index gained 0.56% to 42,264.55. The index declined 1.76% in the past trading session.

ICICI Bank (up 1.49%), Axis Bank (up 1.02%), AU Small Finance Bank (up 0.71%), HDFC Bank (up 0.56%) and Kotak Mahindra Bank (up 0.28%) advanced.

Stocks in Spotlight:

Bharat Heavy Electricals (BHEL) slipped 2.77%. The company has received an order from HPGCL (Haryana Power Generation Corp.) for setting up the 1x800 MW Ultra Super Critical Expansion Unit at DCRTPP Yamuna Nagar

Sequent Scientific declined 1.93%. The company has executed Deed of assignment for sale of Plot no. 7 in Ambernath Industrial Area, Situated at Village Morivali, Thane, admeasuring about 7,481 Square meters.

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