Nifty above 22,450 mark; metal shares shine

The key equity indices traded with moderate gains in morning trade. The Nifty traded above the 22,450 mark. Metal shares advanced after declining in the past trading session.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 316.21 points or 0.43% to 74,055.23. The Nifty 50 index added 90.60 points or 0.41% to 22,458.60.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.61% and the S&P BSE Small-Cap index added 0.80%.

The market breadth was strong. On the BSE, 2,355 shares rose and 1,062 shares fell. A total of 171 shares were unchanged.

Results Today :

Hindustan Unilever (down 0.24%), Axis Bank (up 0.66%), LTIMindtree (down 0.28%), Nippon Life India Asset Management (up 0.06%), Macrotech Developers (up 1.26%), Syngene International (down 0.17%), 5paisa Capital (up 3.14%), Anant Raj (up 1%), AU Small Finance Bank (down 0.34%), Chennai Petroleum Corporation (up 1.67%), Dalmia Bharat (up 0.85%), DCB Bank (down 1.21%), Equitas Small Finance Bank (down 0.63%), Indian Hotels (up 1.29%), MAS Financial Services (up 0.59%), Oracle Financial Services Software (up 0.88%) and Supreme Petrochem (up 0.75%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty Metal Index gained 1.29% to 9,015.30. The index shed 0.34% in the past trading session.

Welspun Corp (up 3.43%), Jindal Steel & Power (up 2.09%), NMDC (up 1.98%), Ratnamani Metals & Tubes (up 1.92%), Vedanta (up 1.42%), JSW Steel (up 1.2%), Hindustan Zinc (up 1.1%), Tata Steel (up 1.09%), Hindalco Industries (up 1.05%) and APL Apollo Tubes (up 1.05%) advanced.

Stocks in Spotlight:

Puravankara was locked in 5% upper circuit after the company announced that it has been unanimously selected as the preferred developer for redeveloping a residential housing society in Pali Hill, Mumbai.

Sakuma Exports added 1.31% after the company has entered into a contract amounting to approximately Rs 150 crore for the supply of sugar to the North East, West Bengal, and Bihar regions.

SBI Cards and Payment Services rose 0.78%. The company has launched three variants of its first travel-focused core credit card, �SBI Card MILES�, in Mumbai. The card is aimed at bringing holistic travel benefits to travellers of all kinds � travel aspirers to frequent fliers to travel aficionados.

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