Sensex Today | Stock Market LIVE Updates: The Nifty index is trading above the 24,500 mark, with gains of over 170 points. The Sensex index is up 500 points. The PSU banks are among the headliners, as the stocks continue to surge. The shares of PG Electroplast are down 15% after the sharp cut in the company’s price target.
Sensex Today | Stock Market LIVE Updates: The Nifty index is trading above the 24,500 mark with gains of close to 170 points, marking a path to recovery. The Sensex, while in green, continues to trade below the coveted 80,000 mark with gains of over 500 points.
The Nifty PSU Banking index is on the rise, with major gains of over 1.5%. Some of the stocks driving the surge include SBI, Indian Bank, Punjab National Bank, and Bank of Baroda.
The shares of PG Electroplast are in focus after incurring a major cut in the price target after an underwhelming quarter. The company shares declined by over 15%.
The management of PG Electroplast spoke to CNBC-TV18 and asserted confidence in the prospects of the company. The shares of HBL Engineering are up by over 12% after the company’s Q1 results.
The defence stocks are on the rise, with Cochin Shipyard, BEML, and Bharat Dynamics among the major stocks in the defence realm.
Some of the biggest volume buzzers of the day among the Nifty 500 shares include Doms Industries, HBL Engineering, PG Electroplast, Voltas, and Concord bio.
When we look at the broader market, the Nifty Midcap 100 index is trading with gains of 0.19%. The Nifty Smallcap 100 index is down by 0.16, indicating a larger slump in the market’s progression.
In addition to that, the Nifty Bank index, after surging in the early hours, is now trading with a major 165.15 points.
When we look at some of the reaction results coming, the shares of Voltas are under pressure. Manappuram Finance shares, on the other hand, are trading with gains of 1.5%.
With most Nifty earnings done for, Ashoka Buildcon, SJVN, Bajaj Consumer, BEML, IPCA Labs, Praj Industries, and Titagarh Rail, among others, will be reporting results today.
Watch this space for all the live updates.