Nifty above 24,200 level; metal shares shine

The key equity barometers traded with major gains in the morning trade, supported by robust earnings from heavyweight TCS, positive global cues, and buying across key sectors. The Nifty traded above the 24,150 mark. Metal shares extended gains for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 808.11 points or 1.05% to 77,549.93. The Nifty 50 index rose 251.10 points or 1.05% to 24,213.90.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 1.32% and the BSE 250 SmallCap Index rose 1.22%.

The market breadth was strong. On the BSE, 2,767 shares rose and 926 shares fell. A total of 207 shares were unchanged.

Buzzing Index:

The Nifty Metal index rose 2.32% to 12,793.60. The index jumped 4.75% in the two consecutive trading sessions.

Hindustan Copper (up 4.57%), National Aluminium Company (up 3.86%), Lloyds Metals & Energy (up 3.05%), Jindal Steel (up 2.92%), Adani Enterprises (up 2.8%), Steel Authority of India (up 2.71%), Hindustan Zinc (up 2.56%), Tata Steel (up 2.41%), JSW Steel (up 2.32%) and APL Apollo Tubes (up 2.13%) rose.

Stocks in Spotlight:

Ceinsys Tech added 2.79% after the company had secured a Rs 67.04 crore contract from the Directorate of Urban Administration & Development, Government of Madhya Pradesh.

Apollo Micro Systems added 2.36% after the company signed a definitive share purchase agreement (SPA) to acquire a 41.33% promoters' stake in Premier Explosives for Rs 1,550 crore in an all-cash transaction.

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