Market Commentary     09-Apr-24
Indices trade higher; metal shares shine
The headline equity indices traded with moderate gains in mid-morning trade. The Nifty hovered above 22,700 level. Metal shares witnessed buying demand for the third consecutive trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 301.21 points or 0.41% to 75,045.55. The Nifty 50 index added 73.45 points or 0.32% to 22,739.75.

The Nifty 50 and Nifty Bank clocked an all-time high of 22,768.40 and 48,940.35, respectively in morning trade. Further, the S&P BSE Sensex index also registered a fresh record high at 75,124.28 in early trade.

In the broader market, The S&P BSE Mid-Cap index rose 0.26% and the S&P BSE Small-Cap index added 0.47%.

The market breadth was positive. On the BSE, 2,001 shares rose and 1,595 shares fell. A total of 151 shares were unchanged.

Buzzing Index:

The Nifty Metal index gained 1.69% to 8,943.10. The index rallied 2.97% in three trading session.

Hindustan Copper (up 9.51%), Hindustan Zinc (up 6.2%), National Aluminium Company (up 3.31%), Steel Authority of India (up 3.21%), Hindalco Industries (up 2.12%), Tata Steel (up 2%), Vedanta (up 1.73%), NMDC (up 1.05%), JSW Steel (up 0.71%) and Jindal Stainless (up 0.55%) advanced.

Stocks in Spotlight:

Premier Explosives zoomed 13.66% after the company announced that its board will meet on Friday, 19 April 2024, to consider a proposal of sub-division/split in the face value of equity shares of the company.

UCO Bank rose 1.40% after the bank reported 15.92% rise in total advances to Rs 1.87 lakh crore as on 31 March 2024 as against Rs 1.62 lakh crore recorded as on 31 March 2023.

Sula Vineyards advanced 2.20% after the company announced that it has recorded highest ever Q4 net revenues, overall as well as for own brands and the wine tourism business.

Global Markets:

Most of the Asian stocks were advanced on Tuesday as investors awaited U.S. inflation numbers to assess the Federal Reserve’s rate cut path.

Japan’s consumer confidence index increased marginally to 39.5 in March as compared with 39.0 in February 2024.

US stocks remained largely range bound on Monday, with investors awaiting the consumer price index report out on Wednesday.

Previous News
  Premier Explosives Ltd leads losers in 'B' group
 ( Hot Pursuit - 05-Jun-24   14:45 )
  Premier Explosives consolidated net profit rises 180.08% in the March 2024 quarter
 ( Results - Announcements 30-May-24   16:35 )
  Board of Premier Explosives recommends final dividend
 ( Corporate News - 30-May-24   16:04 )
  Premier Explosives to table results
 ( Corporate News - 25-May-24   19:22 )
  UCO Bank to hold AGM
 ( Corporate News - 25-May-24   16:26 )
  UCO Bank soars 1.06%, up for fifth straight session
 ( Hot Pursuit - 23-May-24   13:00 )
  UCO Bank up for third consecutive session
 ( Hot Pursuit - 21-May-24   13:05 )
  Sula Vineyard slides after Q4 PAT drops 5% YoY to Rs 14 cr;
 ( Hot Pursuit - 09-May-24   17:34 )
  Sula Vineyards to hold AGM
 ( Corporate News - 09-May-24   10:48 )
  Sula Vineyards consolidated net profit declines 4.85% in the March 2024 quarter
 ( Results - Announcements 09-May-24   07:23 )
  Board of Sula Vineyards recommends final dividend
 ( Corporate News - 08-May-24   18:51 )
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  21-Jun-24   14:41
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  21-Jun-24   13:34
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  21-Jun-24   12:33
  Market reverses gains; Sensex slides 272 pts; media shares advance
  21-Jun-24   11:43
  Broader mkt rallies; IT shares in demand
  21-Jun-24   10:32
  Nifty hits new life high; Sensex adds 96 pts; breadth strong
  21-Jun-24   09:40
  Sensex climbs 146 pts; private bank shares advance
  20-Jun-24   14:40
  Market at day's high; European market opens higher
  20-Jun-24   13:31
  Barometer trade with minor gains; oil & gas shares rises
  20-Jun-24   12:32
  Nifty climbs above 23,500; metal shares shine
  20-Jun-24   11:39
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