Nifty trades at 23,400 level, Sensex jumps 450 pts

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Nifty 50 rose by 149.70 pts or 0.64 per cent to trade at 23,414.55 as of 12.41 pm, and BSE Sensex jumped 455.41 pts or 0.60 per cent to trade at 76,912.00.

All sectoral indices traded in the positive zone except FMCG and realty stocks. The Nifty media, oil and gas, and PSU Bank stocks rose over 1 per cent.

Nifty Bank was up 0.57 per cent at 49,990.00, and Nifty Auto rose 0.54 per cent at 25,366.40.

The major gainers on the NSE as of 12.45 pm include Coal India (3.38 per cent), Eicher Motors (2.30%), Power Grid (2.16%), LTIMindtree (1.98%), and Shriram Finance (1.77%). Stocks of Hindustan Unilever (-1.49%), Britannia (-1.37%), Titan (-0.55%), Divi’s Lab (-0.46%), and Tata Consumer Products (-0.33%) emerged as top losers.

TVS Supply Chain Solutions stock surged 5.02 per cent to trade at ₹177.80 on the NSE as of 12.49 pm, following its 5-year contract with Daimler Truck AG.

Marine Electricals stock is locked in the upper circuit at ₹132.17 on the NSE, higher by 132.17, following the receipt of work orders for ₹20.82 crore. 

A total of 3,896 stocks were traded on the BSE as of 12.46 pm, of which 2,607 advanced, 1,176 declined and 113 remained unchanged. The number of stocks that hit a 52-week high was 216, and those that hit a 52-week low were 17.

In addition, 327 stocks traded in the upper circuit and 123 in the lower circuit.

The major stocks that hit a 52-week high on the NSE include Elecon Engineering (11.48%), Gravita India (15.69%), Dredging Corporation (10%), and Drone Destination (5%).

ION Exchange (India) informed that it’s appeal in the matter of Angeripalayam Common Effluent Plant Private Limited (ACETP) filed in Madras HC has been rejected. As per the order, the company has to pay ₹17.48 crore together with interest. The company is in the process of filing appeal in Madras High Court Division Bench to challenge the aforesaid order. The stock traded at ₹530.45 on the NSE, down by 0.46 per cent as of 1.01 pm.

TTK Prestige has entered into a binding agreement with GramyaHaat Rural Tech Pvt Ltd (GramyaHaat), subscribing to compulsorily convertible debentures, likely to result in equity of more than 5% in GramyaHaat. TTK Prestige stock trades at ₹743.10 on the NSE, down by 0.11 per cent.