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POST MARKET
The Indian equity indices snapped a three-day losing streak with Nifty closing at 25,900 amid positive global cues led by the US Federal Reserve’s 25-basis-point interest rate cut.
At close, the Sensex was up 426.86 points or 0.51 percent at 84,818.13, and the Nifty was up 140.55 points or 0.55 percent at 25,898.55. About 2345 shares advanced, 1664 shares declined, and 138 shares remained unchanged.
All the sectoral indices ended in the green with auto, IT, pharma, telecom, PSU Bank, Private Bank, metal, and realty up 0.5-1%.
Kotak Mahindra Bank, Eternal, Jio Financial, Tata Steel, Grasim Industries were among the major gainers on the Nifty, while losers were Bharti Airtel, Asian Paints, SBI Life Insurance, Bajaj Finance, Axis Bank.
Among the broader market indices, the BSE Midcap index rose 0.8% and the smallcap index added 0.5%.
STOCKS TODAY
Shakti Pumps
The shares of Shakti Pumps jumped 12.33 percent after the company announced that it had received an order from Maharashtra State Electricity Distribution Company (MSEDCL) for 16,025 off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps under Magel Tyala Saur Krushi Pump Yojana/PM Kusum B Scheme.
Hindustan Zinc
The shares of Hindustan Zinc extended gains for the third consecutive session, rising more than 2 percent as silver prices soared to fresh lifetime highs after the US Federal Reserve’s rate cut.
Ashoka Buildcon
The shares went up almost 2 percent after Adani-Ashoka-Aakshaya (a joint venture in which Adani Road Transport Limited holds 51% as lead member, Ashoka Buildcon holds 26%, and Aakshaya Infra Projects holds 23%) has received a Letter of Acceptance for the Mithi River Development and Pollution Control Project worth Rs 1,815.79 crore from the BMC.
Prestige Estates Projects
The company’s shares went up almost 2 percent after the company’s subsidiaries, Prestige Falcon Realty and Prestige Projects, acquired a partnership interest in Bharatnagar Buildcon LLP for Rs 938.75 crore. With this acquisition, the company now indirectly holds 66.93% partnership interest in Bharatnagar Buildcon LLP.
Source – Money Control