Market Commentary     22-Jun-23
Nifty above 18,850 mark; metal shares shine
Domestic equity barometers traded with minor gains in morning trade. The Nifty traded above the 18,850 mark. Metal shares gained after declining for the past trading session. Trading could be volatile due to expiry of weekly index options on the NSE.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 54.84 points or 0.09% to 63,577.99. The Nifty 50 index rose 28.30 points or 0.15% to 18,885.15.

In the broader market, the S&P BSE Mid-Cap index added 0.03% while the S&P BSE Small-Cap index gained 0.30%.

The market breadth was positive. On the BSE, 1,753 shares rose and 1,441 shares fell. A total of 139 shares were unchanged.

Buzzing Index:

The Nifty Metal index advanced 0.86% to 6,241.00. The index slipped 0.94% in the past trading session.

APL Apollo Tubes (up 2.56%), Welspun Corp (up 2.32%), Hindustan Copper (up 0.82%), Hindalco Industries (up 0.68%), Vedanta (up 0.48%), Jindal Steel & Power (up 0.39%), JSW Steel (up 0.3%), Adani Enterprises (up 0.28%), Ratnamani Metals & Tubes (up 0.21%) and National Aluminium Company (up 0.12%) advanced.

On the other hand, Tata Steel (down 1.71%), Steel Authority of India (down 0.17%) and Jindal Stainless (down 0.12%) declined.

Stocks in Spotlight:

Glenmark Pharmaceuticals declined 1.70% after the company's Monroe, North Carolina (USA) manufacturing facility has been issued a warning letter by the U.S. Food and Drug Administration (USFDA). The warning letter is related to observations made during an FDA inspection of the facility in April-May 2022.

NTPC fell 0.67%. The state-run power major announced that its board will meet on Saturday, 24 June 2023 to consider raising funds by issuing non-convertible debentures (NCDs) up to Rs 12,000 crore.

Bharti Airtel rose 0.44%. The telecom major on Wednesday announced that it has entered into an agreement for acquisition of 2,83,400 equity shares, or 12.07% stake in Egan Solar Power for a total cash consideration of Rs 1.33 crore.

Previous News
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 ( Hot Pursuit - 23-Jul-24   11:58 )
  Glenmark receives USFDA approval for Topiramate Capsules
 ( Corporate News - 17-Jul-24   12:08 )
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 ( Hot Pursuit - 17-Jul-24   10:24 )
  GE Power India wins order from NTPC
 ( Corporate News - 08-Jul-24   17:05 )
  Glenmark Pharmaceuticals Ltd spurts 3.8%, rises for third straight session
 ( Hot Pursuit - 05-Jul-24   13:05 )
  NTPC power generation climbs 9.5% YoY in Q1
 ( Hot Pursuit - 03-Jul-24   14:41 )
  Nifty scales above 24,250 mark; Financial services shares in demand
 ( Market Commentary - Mid-Session 03-Jul-24   10:35 )
  NMDC announces cessation of director
 ( Corporate News - 02-Jul-24   14:26 )
  NMDC slides as iron ore production slips 3% YoY in June
 ( Hot Pursuit - 02-Jul-24   10:15 )
  NTPC Ltd Slips 0.94%
 ( Hot Pursuit - 01-Jul-24   09:30 )
  NTPC Ltd rises for third consecutive session
 ( Hot Pursuit - 28-Jun-24   13:05 )
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