The domestic equity benchmarks reversed early losses and traded almost flat in morning trade. The Nifty was trading above the 18,000 mark. PSU banks stocks bounced after a five-day fall.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 29.64 points or 0.05% to 60,352.01. The Nifty 50 index lost 2.35 points or 0.01% to 18,001.55.
In the broader market, the S&P BSE Mid-Cap index rose 0.30% while the S&P BSE Small-Cap index gained 0.56%.
The market breadth was positive. On the BSE, 1748 shares rose and 1233 shares fell. A total of 149 shares were unchanged.
Buzzing Index:
The Nifty PSU Bank index rose 1.31% to 2,845.75, amid value buying. The index declined by 7.62% in the past five sessions.
Union Bank of India (up 2.24%), Jammu and Kashmir Bank (up 2.17%), SBI (up 1.82%), Bank Of Baroda (up 1.71%), Bank of India (up 1.42%), Indian Bank (up 1.40%), Canara Bank (up 1.22%%) Indian Overseas Bank (up 1.19%) and UCO Bank (up 1.10%) advanced.
Stocks in Spotlight:
Tourism Finance Corporation of India rose 2.85% to Rs 68.65. The company said that a meeting of the resource committee of the directors of the company will be held on 22 November 2021, to consider the issuance of non-convertible debentures to be issued on private placement basis.
Grindwell Norton shed 0.43% to Rs 1826.25. The company has made an investment of Rs.15 lakh in Cleanwin Energy Three LLP towards power purchase.
TV Today Network rose 2.36% to Rs 412. As per the bulk deal data on the BSE, Abakkus Asset Manager bought 8 lakh shares (1.34% equity) at Rs 345 per share on Tuesday, 16 November 2021. On the same day, Steinberg India Emerging Opportunities Fund sold 8 lakh shares (1.34% equity) at Rs 345 per share.