Barometers trade with small cuts; IT shares in demand

The key equity benchmarks traded with minor losses in the morning trade. The Nifty traded below the 24,000 mark. IT shares advanced after declining in the previous trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 38.14 points or 0.05% to 79,184.97. The Nifty 50 index shed 33.50 points or 0.14% to 23,978.35.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.78% and the S&P BSE Small-Cap index fell 1.14%.

The market breadth was weak. On the BSE, 1,182 shares rose and 2,574 shares fell. A total of 175 shares were unchanged.

 

IPO Update:

The initial public offer (IPO) of Standard Glass Lining Technology received bids for 2,80,25,547 shares as against 2,08,29,567 shares on offer, according to stock exchange data at 10:24 IST on 6 January 2024. The issue was subscribed to 1.35 times.

The issue opened for bidding on 6 January 2024 and it will close on 8 January 2024. The price band of the IPO is fixed between Rs 133 and Rs 140 per share. An investor can bid for a minimum of 107 equity shares and in multiples thereof.

Buzzing Index:

The Nifty IT index rose 1.02% to 44,170.45. The index slipped 1.41% in the past trading session.

LTIMindtree (up 2.05%), Mphasis (up 1.17%), HCL Technologies (up 0.88%), Infosys (up 0.88%), Tata Consultancy Services (up 0.84%), Tech Mahindra (up 0.69%), Wipro (up 0.51%), L&T Technology Services (up 0.37%), Persistent Systems (up 0.31%) and Coforge (up 0.23%) advanced.

Stocks in Spotlight:

Angel One advanced 1.92% after the company said that its client base jumped 51.7% to 29.52 million in December 2024 as compared with 19.45 million in December 2023.

RBL Bank gained 3.54% after the banks total deposits jumped 15.11% to Rs 1,06,763 crore as on 31 December 2024 from Rs 92,746 crore recorded in 31 December 2023.

RailTel Corporation of India fell 1.83%. The company said that it has received the work order from HPSES for HPSES-(SS) HQ-language lab-STARS-2024-25-2416 amounting to Rs 14.63 crore.

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