Barometers trade with tiny gains; broader mkt outperforms

The key equity indices continued to trade near the flatline with some positive bias in the morning trade. The Nifty traded above the 25,550 mark. PSU Bank shares gained for a fourth day in a row.

At 10:29 ST, the barometer index, the S&P BSE Sensex, rose 16.43 points or 0.02% to 83,771.21. The Nifty 50 index added 6.95 points or 0.03% to 25,557.75.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.57% and the S&P BSE Small-Cap index added 0.66%.

The market breadth was strong. On the BSE, 2,278 shares rose and 1,061 shares fell. A total of 155 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index added 0.90% to 7,045.35. The index rallied 3% in the four trading sessions.

Punjab & Sind Bank (up 1.19%), Bank of Baroda (up 1.14%), Bank of Maharashtra (up 1.13%), Bank of India (up 1%) and State Bank of India (up 0.9%), Punjab National Bank (up 0.79%), Union Bank of India (up 0.78%), Indian Overseas Bank (up 0.48%), Central Bank of India (up 0.39%) and UCO Bank (up 0.16%) added.

Stocks in Spotlight:

Deep Industries rose 0.55%. The company announced that it has secured an order worth Rs 45.33 crore from Oil India for the hiring of one Mobile Workover Rig Package.

Associated Alcohols & Breweries jumped 4.83% after the company launched its premium blended malt whisky 'Hillfort' in Uttar Pradesh, available across select retail outlets.

Western Carriers (India) soared 7.78% after the company announced that it has secured a work order worth approximately Rs 230 crore from Jindal Stainless (JSL).

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