Market Commentary     30-Apr-24
Mid-Session
Market trade higher; Auto shares advance
The key domestic benchmarks traded with decent gains in morning trade. The Nifty traded above the 22,700 level. Auto shares advanced after declining in the past two consecutive trading sessions.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 300.71 points or 0.40% to 74,971.99. The Nifty 50 index added 92.90 points or 0.41% to 22,736.30.

In the broader market, the S&P BSE Mid-Cap index rose 0.64% and the S&P BSE Small-Cap index added 0.48%.

The market breadth was positive. On the BSE, 2,103 shares rose and 1,350 shares fell. A total of 175 shares were unchanged.

Stock exchanges will remain closed on Wednesday, 1 May 2024 on account of Maharashtra Day.

Results Today :

Indian Oil Corporation(up 0.42%), REC (up 2.61%), Adani Energy Solutions(up 0.87%), Havells India(up 1.67%), Adani Total Gas(up 1.62%), Cholamandalam Investment and Finance Company(up 0.44%), Indus Towers(up 1.19%), Central Bank of India (down 0.78%), Procter and Gamble Hygiene and Health Care(up 0.58%), Exide Industries(up 1.31%), Sona BLW Precision Forgings(down 1.51%), Star Health & Allied Insurance Company (up 0.59%), Vedant Fashions (down 0.48%), Five-Star Business Finance (up 1.60%), Castrol India (up 0.19%), Indiamart Intermesh (up 1.21%), Nuvoco Vistas Corporation(down 1.47%), Newgen Software Technologies( up 1.13%) will announce the quarter earnings today.

New Listing:

Shares of JNK India were currently trading at Rs 688.40 at 10:26 IST on the BSE, representing a premium of 65.88% as compared with the issue price of Rs 415.

The scrip was listed at Rs 620, exhibiting a premium of 49.4% to the issue price.

So far, the stock has hit a high of 688.95 and a low of 620. On the BSE, over 6.15 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Auto index gained 2.12% to 22,547.65. The index fell 0.38% in the past two consecutive trading sessions.

Mahindra & Mahindra (up 3.48%), Apollo Tyres (up 2.98%), TVS Motor Company (up 2.81%), MRF (up 2.43%) and Balkrishna Industries (up 2.37%) were the top gainers.

Among the other gainers were Ashok Leyland (up 2.37%), Maruti Suzuki India (up 1.9%), Bajaj Auto (up 1.75%), Hero MotoCorp (up 1.65%) and Samvardhana Motherson International (up 1.61%).

Stocks in Spotlight:

KEC International advanced 2.94% after the company announced that it has secured new orders of Rs 1,036 crore across its various businesses.

RVNL rose 0.10% after the KRDCL- RVNL joint venture has received Letter of Acceptance (LoA) from Southern Railway for redevelopment of Thiruvananthapuram Central Railway Station on Engineering, Procurement and Construction (EPC) mode.

Previous News
  Rail Vikas Nigam secures LoA for Rs 72.73 cr from North Central Railway
 ( Corporate News - 27-Jun-24   14:06 )
  Rail Vikas Nigam JV wins work order of Rs 156.47 cr
 ( Corporate News - 27-Jun-24   14:02 )
  Market hits new life high; IT shares advance
 ( Market Commentary - Mid-Session 27-Jun-24   12:43 )
  RVNL gains as JV bags LoA worth Rs 156 cr
 ( Hot Pursuit - 27-Jun-24   12:00 )
  KEC Intl jumps on bagging orders worth Rs 1,025 cr
 ( Hot Pursuit - 27-Jun-24   10:03 )
  Indices edge lower in early trade; media shares in demand
 ( Market Commentary - Mid-Session 27-Jun-24   09:33 )
  Nifty below 23,450 mark; media shares under pressure
 ( Market Commentary - Mid-Session 24-Jun-24   10:33 )
  RVNL hits life high on emerging as L-1 bidder for Rs 191-cr railway project
 ( Hot Pursuit - 24-Jun-24   09:43 )
  RVNL emerges as L-1 bidder for Rs 191-cr railway project
 ( Hot Pursuit - 22-Jun-24   09:54 )
  Nifty above 22,500 level; consumer durables rally for 9th day
 ( Market Commentary - Mid-Session 18-Jun-24   10:37 )
  RVNL gains on emerging as L-1 bidder for railway project worth Rs 160 cr
 ( Hot Pursuit - 18-Jun-24   10:03 )
Other Stories
  Broader mkt outperforms; realty shares in demand
  28-Jun-24   14:32
  Indices trade with minor gains; European mkt opens higher
  28-Jun-24   13:44
  Barometers trade flat; pharma stocks advance; VIX slides 1.83%
  28-Jun-24   12:39
  Nifty hovers above 24,000; oil & gas rally for 3rd day
  28-Jun-24   11:33
  Sensex climbs 303 pts; PSU banks advance
  28-Jun-24   10:33
  Benchmarks open at record high levels; breadth strong
  28-Jun-24   09:32
  Nifty hovers above 23,900; PSU bank shares slide
  27-Jun-24   14:35
  Sensex up 264 pts; European mkt opens higher
  27-Jun-24   13:43
  Market hits new life high; IT shares advance
  27-Jun-24   12:43
  Indices trade with minor gains; Nifty climbs above 23,900
  27-Jun-24   11:34
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