SSPL WEALTH PVT LTD

Mid - Session

Market behaviours during the course of the trading session.

Sensex gains 229 pts; private bank shares in demand

20-Jan-25 10:36 Hrs IST

The frontline indices traded with modest gains in the morning trade. The Nifty traded above the 23,250 mark after hitting the day's low of 23,189.70 in early trade. Private bank shares rallied after declining in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, rose 229.32 points or 0.30% to 76,848.65. The Nifty 50 index added 48.20 points or 0.21% to 23,251.40.

In the broader market, the S&P BSE Mid-Cap index shed 0.27% and the S&P BSE Small-Cap index gained 0.06%.

The market breadth was positive. On the BSE, 2,067 shares rose and 1,601 shares fell. A total of 192 shares were unchanged.

Economy:

India's foreign exchange (forex) reserves declined $8.714 billion to $625.871 billion in the week ended January 10, according to the latest RBI data.

For the week ended January 10, foreign currency assets, a major component of the reserves, decreased by $9.469 billion to $536.011 billion, the data released on Friday showed.

Gold reserves increased by $792 million to $67.883 billion during the week. The special drawing rights (SDRs) were down by $33 million to $17.781 billion, the RBI said.

India's reserve position with the IMF was down by $4 million at $4.195 billion in the reporting week, the apex bank data showed.

Result Today:

AGI Greenpac (up 0.74%), One 97 Communications Paytm (down 0.06%), Zomato (up 0.96%), APL Apollo Tubes (up 1.34%), Central Bank of India (up 1.19%), Dixon Technologies (up 0.15%), IDBI Bank (down 0.87%), Indian Overseas Bank (up 2.09%), Indian Railway Finance Corporation (up 1.09%), ICICI Securities (down 0.48%), Jammu & Kashmir Bank (up 2.01%), L&T Finance (up 0.77%), MCX India (down 0.86%), Newgen Software Technologies (down 0.61%), Oberoi Realty (down 0.66%) and Sunteck Realty (up 0.28%) will declare their quarterly earnings later today.

New listing:

Shares of Laxmi Dental were currently trading at Rs 549.60 at 10:26 IST on the BSE, representing a premium of 28.41% as compared with the issue price of Rs 428.

The scrip was listed at Rs 528, exhibiting a premium of 23.36% to the issue price.

So far, the stock has hit a high of 559.40 and a low of 524.80. On the BSE, over 8.12 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Private Bank index gained 1.76% to 24,097.55. The index tumbled 2.17% in the past trading session.

Kotak Mahindra Bank (up 9.16%), HDFC Bank (up 0.24%), Bandhan Bank (up 0.20%), City Union Bank (up 0.12%).

On the other hand, RBL Bank (down 1.2%), Axis Bank (down 1.2%) and IndusInd Bank (down 1.11%) edged lower.

Kotak Mahindra Bank surged 9.16% after the private lender's net profit jumped 9.97% to Rs 3,304.80 crore on 13.86% rise in total income to Rs 16,050.38 crore in Q3 FY25 over Q3 FY24.

Stocks in Spotlight:

Seshasayee Paper & Boards fell 3.76% after the company's consolidated net profit declined 75.89% To Rs 16.63 crore in Q3 FY25 as compared with Rs 68.98 crore in Q3 FY24. Revenue from operations slipped 8.9% YoY to Rs 431.33 crore in Q3 FY25.

Rallis India tumbled 6.90% after the pesticides maker reported 54.17% drop in net profit to Rs 11 crore on 12.71% slide in revenue from operations to Rs 522 crore in Q3 FY25 over Q3 FY24.

Sterlite Technologies declined 1.17% after the company's consolidated net loss of Rs 24 crore in Q3 FY25 as against a net loss of Rs 14 crore posted in Q2 FY25. Revenue from operations declined 10.76% quarter on quarter (QoQ) to Rs 1,261 crore in the third quarter of FY25.