The domestic equity barometers pared losses in mid-afternoon trade. Metal stocks witnessed bargain buying after a two-day losing streak. The Nifty was trading above the 14,350 mark.
At 14:24 IST, the barometer index, the S&P BSE Sensex, was down 564.81 points or 1.15% to 48,615.50. The Nifty 50 index skid 186.95 points or 1.28% to 14,362.45.
Rising domestic coronavirus cases dented investors sentiment. Global cues were subdued as COVID-induced lockdowns in Europe and potential U.S. tax hikes hit investors' risk appetite.
In the broader market, the S&P BSE Mid-Cap index declined 2.06% while the S&P BSE Small-Cap index lost 1.71%.
Sellers outnumbered buyers. On the BSE, 639 shares rose and 2231 shares fell. A total of 165 shares were unchanged.
Numbers to Track:
More From This Section
In the commodities market, Brent crude for May 2021 settlement slipped 83 cents to $ 64.41 a barrel. The contract added 5.95% or $3.62 to settle at $64.41 a barrel in the previous session.
The yield on India's 10-year benchmark federal paper rose to 6.160% as compared to its previous close of 6.152%.
In the foreign exchange market, the partially convertible rupee fell to 72.64, compared with its previous closing of 72.55.
MCX Gold futures for 5 April 2021 settlement shed 0.21% to Rs 44,766.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.15% to 92.67.
Buzzing Index:
The Nifty Metal index rose 0.28% to 3,727.80 amid value buying. The index declined 3.88% in the past two sessions while the benchmark Nifty 50 index lost 1.27% during the same period.
Tata Steel (up 2.92%), SAIL (up 1.42%), Hindustan Zinc (up 1.06%) and Hindustan Copper (up 0.97%) advanced.
Meanwhile, Coal India (down 2.31%), NMDC (down 2.09%), Mishra Dhatu Nigam (down 1.93%), NALCO (down 1.69%), Hindalco Industries (down 1.56%), MOIL (down 1.44%) and Ratnamani Metals Tubes (down 0.97%) declined.
Stocks in Spotlight:
Kirloskar Ferrous Industries added 0.13% to Rs 159.50. The company has entered into a mining lease deed with the Government of Karnataka to conduct mining operations for a period of 50 years at Bharath Mines & Minerals. The operations at the mine commenced on 24 March 2021.
Pokarna jumped 10.79% to Rs 255.05. The company announced the commencement of commercial operations of its second quartz surface manufacturing facility located at Mekaguda Village in Telangana.
Powered by Capital Market - Live News