Market Update 03 Jan- Sensex spikes 118 points; Nifty near 10,490 metal stocks shine

share investment tips, Money Maker, Intraday Tips, BTST call. NSE Share AdviceBSE Sensex traded higher by 118 points, to 33,930 level, while the NSE Nifty50 rose 44 points to 10,486.30 in the late morning hours.

Top Sensex gainers include Adani Ports, ICICI Bank, Reliance, Bharti Airtel and State Bank of India while the major losers were Dr Reddy’s, ONGC, Tata Motors, Asian Paints and HDFC Bank.

Shares of Reliance Industries Limited rose 1.3 % to Rs. 923.45 after the company announced that commissioned its refinery off-gas cracker (ROGC) complex of 1.5 million tonnes yearly capacity with downstream plants and utilities.
Titan Company Limited shares rise on Q3 growth at 2% to Rs. 861.50 after the company announced that its III-quarter jewelry retail growth as per company’s expectation.

Fertilizer stocks trade higher which include Gujarat State Fertilizers, National Fertilizers, Mangalore Chemicals and Chambal Fertilizers among others.

Metal stocks keep on strength on the back of growing global commodity prices. The Nifty Metal index rose 0.8 percent in the open, led by over 1 percent gains in shares of Vedanta and Tata Steel Limited.

Shares of PSU banks regained from recent weakness as the Nifty PSU Bank index climbed 0.7 percent, with SBI’s stock rising nearly 1%.

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