Barometers trade flat; metal stocks rise for second day

11 Mar 2022 , 01:25 PM

The domestic equity barometers were currently traded flat, with some positive bias in afternoon trade. The Nifty hovered around 16,600 level. Metal shares rose for the second day.

At 13:22 IST, the barometer index, the S&P BSE Sensex, was up 10.31 points or 0.02% to 55,474.70. The Nifty 50 index added 10.65 points or 0.06% to 16,605.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.07% while the S&P BSE Small-Cap index gained 0.63%.

The market breadth was strong. On the BSE, 2,004 shares rose and 1,247 shares fell. A total of 118 shares were unchanged.

Cipla (up 4.92%), Sun Pharma (up 3.34%), JSW Steel (up 2.22%), Dr Reddys Lab (up 2.17%) and BPCL (up 1.65%) were the top Nifty gainers.

Tata Consumer (down 2%), Tata Motors (down 1.63%), Nestle Industries (down 1.54%), Maruti Suzuki (down 1.34%) and Eicher Motors (down 1.27%) declined.

Buzzing Index:

The Nifty Metal index rose 0.42% to 6,187.75. The index has added 2.71% in two sessions.

NMDC (up 2.32%), JSW Steel (up 2.27%), Coal India (up 1.42%), Hindustan Copper (up 0.86%), APL Apollo Tubes (up 0.82%) and Jindal Steel & Power (up 0.73%) advanced while Adani Enterprises (down 1.08%) and Ratnamani Metals Tubes (down 0.98%) declined.

Stocks in Spotlight:

D B Realty hit an upper circuit limit of 5% at Rs 106.35 after the company said its partnership firm, DBS Realty, secured Letter of Acceptance (LoA) for a construction project from Municipal Corporation of Great Mumbai (MCGM). The project pertains to construction of 4,000 tenements of carpet area size 27.88 meters on land bearing in Chandivali, Mumbai.

Ikab Securities & Investment was locked in 5% upper circuit at Rs 809.30 after the companys board approved the appointment of Madhusudan Kela as an additional director & managing director of the company with immediate effect.

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