Market Commentary - Mid-Session
The key equity benchmarks traded with limited losses in the morning trade. The Nifty hovered below the 22,900 level. Bank shares declined after advancing in the past trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex, slipped 252.83 points or 0.33% to 75,686.35. The Nifty 50 index declined 52.55 points or 0.23% to 22,880.35.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.51% and the S&P BSE Small-Cap index added 0.83%.
The market breadth was strong. On the BSE, 2,308 shares rose and 1,113 shares fell. A total of 169 shares were unchanged.
Buzzing Index:
The Nifty Bank index shed 0.62% to 49,263.40. The index rose 0.98% in the past trading session.
HDFC Bank (down 1.98%), Kotak Mahindra Bank (down 0.54%) and ICICI Bank (down 0.45%) declined.
Stocks in Spotlight:
Aurobindo Pharma slipped 1.19% after the United States Food and Drug Administration (USFDA) issued five observations to the company's subsidiary, Aurobindo Pharma USA Inc., at its facility located in New Jersey, USA.
Rites added 3.73% after the company entered into a memorandum of understanding (MoU) with the Central Water and Power Research Station (CWPRS), Ministry of Jal Shakti.
Servotech Renewable Power System added 1.44% after the company signed an agreement with France-based Watt & Well SAS for designing, manufacturing, and selling EV charger components in India.
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