iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Nifty above 17,950 mark, broader market outperforms

12 Sep 2022 , 11:30 AM

The benchmark indices continued to trade with modest gains in the mid-morning trade. The Nifty traded above the 17,950 mark. All the sectoral indices on the NSE were in the green with media, IT and realty stocks leading the rally. At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 409.42 points or 0.68% to 60,202.56. The Nifty 50 index gained 119.70 points or 0.67% to 17,953.05. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.84% while the S&P BSE Small-Cap index gained 1.05%. The market breadth was strong. On the BSE, 2,253 shares rose and 1,149 shares fell. A total of 186 shares were unchanged. Buzzing Index: The Nifty Media index rose 2.49% to 2,201.60. The index declined 0.64% in the past two trading sessions. Nazara Technologies (up 6.17%), Inox Leisure (up 4.52%), PVR (up 4.02%), Zee Entertainment Enterprises (up 2.47%), Sun TV Network (up 1.6%), Network 18 Media & Investments (up 1.35%), Hathway Cable & Datacom (up 0.85%), TV18 Broadcast (up 0.47%) jumped. Stocks in Spotlight: JSW Steel shed 0.49%. The steel major said that its standalone crude steel production for the month of August 2022 stood at 16.76 lakh tonnes, a growth of 22% YoY on standalone basis. The companys crude steel production was 13.77 lakh tones in the same period last year. While the production of flat rolled product increased by 34% to 12.01 lakh tones, the production of long rolled product improved by 25% to 3.75 lakh tones in August 2022 over August 2021. The average capacity utilization was 87.4% during August 2022, mainly due to shortage of iron ore both in Karnataka and Odisha regions. Engineers India advanced 2.23% after the company an order from Oil and Natural Gas Corporation (ONGC) on EPC Reimbursable basis for Rs 249 crore. The order includes restoration of gas terminal, Phase-1 at Hazira plant of ONGC. The contract is to be executed on EPC Reimbursable basis (open book brief estimate (OBE) model). The total estimated order value is Rs 249 crore and the time period for execution of the project is scheduled at 33 months. D B Realty hit an upper circuit limit of 5% after the media reported that Adani Realty is in advanced talks for a merger with the Mumbai-based realty company. Global Markets: Asian stocks are trading higher on Monday on improved risk sentiment. Mainland China, Hong Kong and South Korea markets are closed for a holiday. US stocks rallied on Friday as investors went on a buying spree, shrugging off concerns about the economic outlook. The U.S. is set to release its consumer price index for August on Tuesday. The report is one of the last pieces of data on inflation the Fed will see ahead of its September meeting. Retail sales and industrial production reports will be released Thursday. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.