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Business Standard
an hour ago
- Business Standard
Nifty trades above 25,100 level; European mrkt opens higher
The frontline indices traded with major gains in the afternoon trade, tracking a sharp rally in Asian markets after US President Donald Trump announced a ceasefire agreement between Iran and Israel. The easing of geopolitical tensions led to a pullback in global crude oil prices, providing further support to domestic equities. The Nifty traded above the 25,100 level. All NSE sectoral indices traded in the green, with the sole exception of the Nifty Media index. At 13:30 IST, the barometer index, the S&P BSE Sensex, zoomed 510.62 points or 0.62% to 82,431.19. The Nifty 50 index rallied 180.85 points or 0.72% to 25,144.85. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.91% and the S&P BSE Small-Cap index added 1.13%. The market breadth was strong. On the BSE, 2,876 shares rose and 1,014 shares fell. A total of 151 shares were unchanged. Gainers & Losers: Adani Ports and Special Economic Zone (up 3.79%), Jio Financial Services (up 3.74%), UltraTech Cement (up 2.89%), Shriram Finance (up 2.89%) and Tata Steel (up 2.37%) were the major Nifty50 gainers. Oil & Natural Gas Corporation (down 2.61%), NTPC (down 0.78%), IndusInd Bank (down 0.58%), Power Grid Corporation of India (down 0.50%) and Bharat Electronics (down 0.10%) were the major Nifty50 Losers. Stocks in Spotlight: Enviro Infra Engineers zoomed 13.90% after the company announced that it has bagged two key solar power projects aggregating to 69 MW (AC) capacity, marking its strategic foray into the renewables sector. Mahindra Lifespace Developers advanced 1.89% after the company announced the launch of its redeveloped residential project Mahindra 'Codename64 in Malad (West), Mumbai. H.G. Infra Engineering rallied 3.45% after the company announced that it has been declared the lowest bidder for a government project worth Rs 117.77 crore. Astec Lifesciences jumped 6.58% after the company announced that its board has approved raising up to Rs 250 crore through a rights issue of fully paid-up equity shares. Global Markets: US Dow Jones futures jumped 343 points, pointing to a strong open for Wall Street. European stocks opened higher while Asian markets soared on Tuesday after President Donald Trump claimed that Iran and Israel had agreed to a ceasefire. However, neither country has officially confirmed accepting the proposed timeline. Overnight in the US, all three major indices closed higher as investor nerves eased following Irans relatively muted response to the US airstrikes over the weekend. The Dow gained 0.89%, the S&P 500 rose 0.96%, and the Nasdaq advanced 0.94%. Tesla shares surged over 8%, leading the Nasdaq's gains, after the company launched its long-awaited Robotaxi service in Austin, Texas. Sentiment also got a boost from Fed Governor Michelle Bowman, who signaled that a rate cut could be on the table at July's meeting, provided inflation and labor market data remain supportive. Speaking in Prague, Bowman also downplayed the inflationary impact of Trump's proposed tariff wave, calling it temporary. All eyes now turn to Fed Chair Jerome Powell, who begins two days of testimony before Congress starting Tuesday.
Business Standard
an hour ago
- Business Standard
Power Finance Corporation Ltd up for third straight session
Power Finance Corporation Ltd is quoting at Rs 417.6, up 1.63% on the day as on 12:49 IST on the NSE. The stock is down 13.67% in last one year as compared to a 6.4% jump in NIFTY and a 14.36% jump in the Nifty Financial Services index. Power Finance Corporation Ltd gained for a third straight session today. The stock is quoting at Rs 417.6, up 1.63% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.07% on the day, quoting at 25239.9. The Sensex is at 82763.96, up 1.06%. Power Finance Corporation Ltd has gained around 1.24% in last one month. Meanwhile, Nifty Financial Services index of which Power Finance Corporation Ltd is a constituent, has gained around 1.11% in last one month and is currently quoting at 26556.5, up 1.24% on the day. The volume in the stock stood at 34.94 lakh shares today, compared to the daily average of 73.7 lakh shares in last one month. The benchmark June futures contract for the stock is quoting at Rs 417.3, up 1.53% on the day. Power Finance Corporation Ltd is down 13.67% in last one year as compared to a 6.4% jump in NIFTY and a 14.36% jump in the Nifty Financial Services index. The PE of the stock is 7.82 based on TTM earnings ending March 25.
Business Standard
an hour ago
- Business Standard
SBI Cards & Payment Services Ltd soars 2.68%
SBI Cards & Payment Services Ltd is quoting at Rs 981.55, up 2.68% on the day as on 12:49 IST on the NSE. The stock is up 34.09% in last one year as compared to a 6.4% spurt in NIFTY and a 14.36% spurt in the Nifty Financial Services index. SBI Cards & Payment Services Ltd is up for a third straight session in a row. The stock is quoting at Rs 981.55, up 2.68% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.07% on the day, quoting at 25239.9. The Sensex is at 82763.96, up 1.06%. SBI Cards & Payment Services Ltd has risen around 8.28% in last one month. Meanwhile, Nifty Financial Services index of which SBI Cards & Payment Services Ltd is a constituent, has risen around 1.11% in last one month and is currently quoting at 26556.5, up 1.24% on the day. The volume in the stock stood at 6 lakh shares today, compared to the daily average of 11.92 lakh shares in last one month. The benchmark June futures contract for the stock is quoting at Rs 983, up 2.77% on the day. SBI Cards & Payment Services Ltd is up 34.09% in last one year as compared to a 6.4% spurt in NIFTY and a 14.36% spurt in the Nifty Financial Services index. The PE of the stock is 47.43 based on TTM earnings ending March 25.
