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Benchmarks trade flat; PSU banks rally

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Last Updated : Dec 26 2024 | 10:50 AM IST
The key domestic indices traded near the flatline in the morning trade. The Nifty traded above the 23,700 level. PSU bank shares advanced after declining for the past two consecutive trading sessions.

At 10:30 ST, the barometer index, the S&P BSE Sensex was down 24.95 points or 0.03% to 78,449.97. The Nifty 50 index rose 3.15 points or 0.01% to 23,730.80.

In the broader market, the S&P BSE Mid-Cap index shed 0.48% and the S&P BSE Small-Cap index fell 0.47%.

The market breadth was negative. On the BSE, 1,543 shares rose and 2,131 shares fell. A total of 176 shares were unchanged.

Buzzing Index:

The Nifty PSU bank index added 0.61% to 6,649.55. The index shed 0.60% in past two consecutive trading sessions.

Indian Bank (up 1.37%), Union Bank of India (up 1.27%), Punjab National Bank (up 0.9%), Canara Bank (up 0.81%), Indian Overseas Bank (up 0.74%), Bank of Baroda (up 0.71%), State Bank of India (up 0.69%), Bank of India (up 0.62%), Punjab & Sind Bank (up 0.35%) and UCO Bank (up 0.11%) added.

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Stocks in Spotlight:

Ceigall India jumped 3.36% after the companys subsidiary, Ceigall Ludhiana Bathinda Greenfield Highway Private, executed a concession agreement with the National Highways Authority of India (NHAI) to develop a highway in Punjab.

National Aluminium Company (NALCO) added 2.21% after the company announced the signing of a mining lease deed for the amalgamated Utkal-D and Utkal-E coal blocks.

Gland Pharma rose 0.43%. The company said that the Agence nationale de suritdu micament et des produits de sant(ANSM), France, has issued 10 observations to Cenexis facility post an inspection conducted this month.

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First Published: Dec 26 2024 | 10:34 AM IST

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