The benchmark indices marched higher and hit an intraday high in morning trade. The Nifty traded above the 17,900 level. Metal, financial services and FMCG stocks were in demand while realty, PSU bank and IT shares declined.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 254.79 points or 0.42% to 60,946.33. The Nifty 50 index gained 73.85 points or 0.41% to 17,918.45.
In the broader market, the S&P BSE Mid-Cap index rose 0.32% while the S&P BSE Small-Cap index added 0.03%
The market breadth was positive. On the BSE, 1,676 shares rose and 1,385 shares fell. A total of 173 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 158.95 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 86.23 crore in the Indian equity market on 20 February, provisional data showed.
Buzzing Index:
The Nifty IT index rose 1.05% to 5,823.50. The index decilned 1.67% in the past two trading sessions.
Ratnamani Metals & Tubes (up 3.87%), APL Apollo Tubes (up 2.21%), JSW Steel (up 1.15%), Tata Steel (up 1.07%), Steel Authority of India (up 1.05%), Jindal Steel & Power (up 0.94%), Adani Enterprises (up 0.77%), Vedanta (up 0.63%), Hindustan Zinc (up 0.34%) and Hindustan Copper (up 0.24%).
Stocks in Spotlight:
IFL Enterprises gained 2.20% after the company informed that its board would meet on 9 March 2023 to consider a proposal for sub-division of the equity shares of the company. On the same day, the board will also consider a proposal for the issue of fully paid-up bonus equity shares to the members of the company.
Rattanindia Enterprises rose 1.37%. RattanIndia's Revolt Motors, announced pocket friendly My Revolt Plan (MRP) to democratise ownership of EV motorcycles in the country. Revolt RV400 customers will be able own these AI enabled EV bikes at monthly costs less than comparable petrol engine bikes.
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