Sensex rose 135 pts; European mkt opens higher

Domestic equity benchmarks continued to trade with minor gains in afternoon trade. The Nifty hovered above 21,650 mark. Consumer durables, auto and oil & gas shares were in demand while IT, realty and pharma stocks decline.

At 13:29 IST, the barometer index, the S&P BSE Sensex, was up 135.41 points or 0.19% to 71,793.12. The Nifty 50 index added 47.00 points or 0.22% to 21,665.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index gained 0.81% and the S&P BSE Small-Cap index rose 0.80%.

The market breadth was strong. On the BSE, 2,418 shares rose and 1,357 shares fell. A total of 109 shares were unchanged.

Gainers & Losers:

Hero MotoCorp (up 5.05%), Bajaj Auto (up 3.49%), Eicher Motors (up 1.80%), Britannia Industries (up 1.64%) and Reliance Industries (up 1.53%) were major Nifty gainers.

Dr. Reddy`s Laboratories (down 2.04%), Infosys (down 1.67%), SBI Life Insurance Company (down 1.15%), Nestle India (down 1.06%) and Hindustan Unilever (down 0.75%) were major Nifty losers.

Stocks in Spotlight:

Ajmera Realty & Infra jumped 6.46% after the company�s sales value stood at Rs 253 crore in Q3 FY24, recording a growth of 98% as compared with Rs 128 crore posted in Q3 FY23.

Axiscades Technologies jumped 7.22% after the company announced that its board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 696.70 per share.

Kalyani Steels zoomed 16.31% after the company announced that it has emerged as successful bidder to acquire assets of Kamineni Steel and Power India worth Rs 450 crore.

Angel One rose 0.53%. The firm said that its board is scheduled to meet on Monday, 15 January 2024 to consider a proposal for raising funds through issuance of non-convertible securities on private placement basis.

CESC advanced 1.39% after the Noida Power Company, a subsidiary of the company has received an order from the Uttar Pradesh Electricity Regulatory Commission (UPERC), approving the Power Purchase Agreement for procurement of power of 95 MW RTC Power per annum for a period of 5 years.

Global Markets:

Markets in Europe and Asia advanced on Thursday, as investors were looking forward to key US inflation data.

The Bank of Korea left its main lending rate unchanged at 3.50% for the eight time in a row.

US stocks ended higher on Wednesday led by communications stocks and megacaps. Investors are awaiting the U.S. consumer price index report slated for release Thursday. The producer price index reading is due on Friday.

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