The headline equity benchmarks pared all early losses and traded with modest gains in morning trade. The Nifty traded above the 23,200 level after hitting the day's low of 23,090.65 in early trade. IT shares extended gains for the second consecutive trading session. Trading could be volatile due to weekly F&O series expiry today.
At 10:30 IST, the barometer index, the S&P BSE Sensex rose 235.91 points or 0.31% to 76,640.90. The Nifty 50 index added 82 points or 0.35% to 23,237.35.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 1.96% and the S&P BSE Small-Cap index rallied 1.24%.
The market breadth was strong. On the BSE, 2,411 shares rose and 1,094 shares fell. A total of 174 shares were unchanged.
Politics:
The JD(U) on Wednesday sacked its Manipur unit president, Ksh. Biren Singh, in an effort to quell growing speculation about its ties with the BJP. Party's national spokesperson Rajiv Ranjan told the media Singh's removal was due to indiscipline and asserted that the party would continue to support the BJP-led government in the northeastern state. Ranjan affirmed that the JD(U) remains committed to supporting the BJP-led NDA, not just in Manipur but across the country. Ranjan's remark came shorty after Ksh Biren Singh claimed that the party had withdrawn support to the BJP-led Biren Singh government and informed its decision to governor Ajay Kumar Bhalla. The state unit chief had also claimed that the lone JDU MLA in the state, Md Abdul Nasir, will sit in the opposition benches.
Result Today:
UltraTech Cement (up 1.70%), Dr Reddy's Laboratories (down 0.77%), Hindustan Petroleum Corporation (down 1.18%), Indus Towers (up 2.06%), United Spirits (up 2.03%), Adani Energy Solutions (up 0.23%), Adani Green Energy (up 1.32%), Amber Enterprises India (up 10.35%), Capri Global Capital (up 1.34%), Cyient (up 1.74%), Greaves Cotton (up 2.88%), Indian Energy Exchange (down 0.15%), KFin Technologies (up 4.99%), Mankind Pharma (up 1.33%), Mphasis (up 3.44%), Nippon Life India Asset Management (up 2.64%), Senores Pharmaceuticals (up 2.52%), Sona BLW Precision Forgings (up 2.05%), Spandana Sphoorty Financial (down 0.08%), Suryoday Small Finance Bank (up 1.82%), Syngene International (down 0.19%), Tejas Networks (up 1.40%), Thyrocare Technologies (up 1.87%), Ujjivan Small Finance Bank (up 0.84%), V2 Retail (up 3.26%) and Zee Entertainment Enterprises (up 1.44%) will announce their quarterly later today.
New Listing:
Shares of Stallion India Fluorochemicals was locked in upper circuit of 5% at Rs 125.99 at 10:22 IST on the BSE, representing a premium of 39.99% as compared with the issue price of Rs 90.
The scrip was listed at Rs 120, exhibiting a premium of 33.33% to the issue price.
So far, the stock has hit a high of 125.99 and a low of 120. On the BSE, over 7.27 lakh shares of the company were traded in the counter so far
Buzzing Index:
The Nifty IT index jumped 2.18% to 43,517.05. The index rallied 4.36% in two consecutive trading sessions.
Coforge (up 10.78%), Persistent Systems (up 9.41%), Wipro (up 4.59%), Mphasis (up 3.31%), LTIMindtree (up 2.76%), Tech Mahindra (up 1.81%), L&T Technology Services (up 1.68%), Infosys (up 0.62%) and Tata Consultancy Services (up 0.51%) advanced.
Persistent Systems surged 9.41% after the company's consolidated net profit jumped 14.77% to Rs 372.99 crore in Q3 FY25 as compared with Rs 325 crore in Q2 FY25. Revenue from operations increased 5.7% QoQ to Rs 3,062.28 crore in Q3 FY25.
Stocks in Spotlight:
Laxmi Organic Industries rallied 4.20% after the company's consolidated net profit jumped 7.76% to Rs 29.30 crore in Q3 FY25 as against Rs 27.18 crore reported in Q3 FY24. Revenue from operations stood at Rs 786.34 crore in Q3 FY25, marking a growth of 13.25% from Rs 694.30 crore recorded in the corresponding quarter last year.
Piramal Pharma advanced 2.02% after the company said that its subsidiary Piramal Critical Care (PCC) has launched Chlorpromazine Hydrochloride for Injection in various strengths in the US market.
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