Indices pare early losses; Nifty above 18,200

22 Nov 2022 , 10:32 AM

The frontline equity benchmarks pared all the early losses and traded with minor gains in the morning trade. The Nifty scaled above the 18,200 level. Metal shares snap its four days declining trend. At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 168.23 points or 0.28% to 61,313.07. The Nifty 50 index added 47.45 points or 0.26% to 18,207.40. In the broader market, the S&P BSE Mid-Cap index rose 0.24% while the S&P BSE Small-Cap index lost 0.01%. The market breadth was positive. On the BSE, 1,686 shares rose, and 1,426 shares fell. A total of 162 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 1,593.83 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,262.91 crore in the Indian equity market on 21 November 2022, provisional data showed. New Listing : Shares of Kaynes Technology India were currently trading at Rs 686.20 at 10:30 IST on the BSE, representing a premium of 16.89% as compared with the issue price of Rs 587. The scrip was listed at Rs 775, exhibiting a premium of 32.03 % to the issue price. So far, the stock has hit a high of 787 and a low of 703.25. On the BSE, over 4.93 lakh shares of the company were traded in the counter so far. Buzzing Index: The Nifty Metal index rose 0.67% to 6,435.20, snapping its four days losing streak. The index slipped 2.99% in past four trading sessions. Among the components of the Nifty Metal index, APL Apollo Tubes (up 3.7%), Welspun Corp (up 2.02%), Hindalco Industries (up 1.03%), Adani Enterprises (up 0.68%), Vedanta (up 0.52%) Jindal Steel & Power (up 0.51%), Hindustan Copper (up 0.5%), JSW Steel (up 0.24%) and Ratnamani Metals & Tubes (up 0.1%) were the top gainers. On the other hand, Jindal Stainless (down 1.58%), Hindustan Zinc (down 0.51%) and MOIL (down 0.23%) turned lower. Stocks in Spotlight: Route Mobile rose 0.46%. The company has already expanded its footprint into the Kingdom of Saudi Arabia (KSA) as a Limited Liability Company. Route Mobile has also obtained the CITC License from Saudi Arabias Communications and Information Technology Commission (CITC), which is responsible for regulating the information and communication technology sector in KSA. Jubilant FoodWorks rose 1.14% after the food services company has received approval of its board to set up a subsidiary to run Dominos Pizza business in Nepal. The subsidiary in Nepal will be set up under Jubilant FoodWorks International Luxembourg at an initial capital contribution of about Rs 3,70,02,000. Lupin declined 0.12%. The pharma company said that its corporate social responsibility (CSR) arm, Lupin Human Welfare and Research Foundation (LHWRF) has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan to strengthen healthcare system, reduce prevalence of Cardiovascular Disease (CVD) and Chronic Obstructive Pulmonary Disease (COPD) in the Alwar district of Rajasthan. Powered by Capital Market – Live News