Sensex, Nifty Up Firmly As Metal, Bank Stocks Rise Again

(RTTNews) - After opening marginally up, Indian stocks pared some gains Wednesday morning, but recovered well subsequently to remain firmly placed in positive territory. Metal and PSU bank stocks are finding good support, while technology stocks are showing some weakness.

The benchmark BSE Sensex was up 296.87 points or 0.35% at 84,971.95 a little while ago, while the Nifty50 index of the National Stock Exchange was up 111.05 points or 0.43% at 26,049.90.

The Sensex has gained nealry 1% in December, and over the last 12 months, it has moved up over 8%. The Nifty50 too has added almost 1% this month. Since January 2025, the index has gained nearly 10%.

Tata Steel is up 2.5%. JSW Steel is rising 5%. Jindal Steel is advancing 3.5%, while SAIL is gaining about 2.3%. APL Apollo, JSL and Welcorp are also notably higher.

State Bank of India is up 0.8%. PSB is gaining 3.75%, while Indian Bank, Maharashtra Bank, Punjab National Bank, Canada Bank and Union Bank of India are up 2 to 3%. Bank of India, Bank of Baroda, IOB and Central Bank of India are also up with strong gains.

Titan Industries is gaining 2%. Power Grid Corporation, NTPC, Bharat Electronics, Trent, Hind Unilever and Asian Paints are up 1 to 1.7%.

Axis Bank, Eternatl, Adani Ports, HCL Technologies, Reliance Industries, Kotak Bank and ITC are up with moderate gains.

TCS, Bajaj Finserv, Infosys, Tech Mahindra and Bajaj Finance are down 0.5 to 1%.

Shares of Vodafone Idea moved up sharply this morning on reports the Union Cabinet is planning to take up the matter of the company's bailout plan in today's meeting. The Cabinet is likely to give relief on interest and penalty levied on the company for its AGR dues, according to reports.

Bharat Forge is up 0.7% after announcing that it has bagged a contract worth Rs 1,661.9 crore from the Ministry of Defence for supply of CQB Carbines to the Indian Army.

The market breadth is strong. On BSE, 2,652 stocks have moved higher. 1,110 stocks are down in negative territory, while 205 stocks are little changed.