Key barometers pared gains in mid morning trade as selling emerged at higher levels. The Nifty slipped below the crucial 12,100 mark. Meanwhile, the Sensex slipped below its psychological 41,000 mark.
At 11:18 IST, the S&P BSE Sensex, gained 237.08 points or 0.58% and traded at 40,913.71. The Nifty 50 index was up 63.65 points or 0.53% at 12,056.70.
The S&P BSE Mid-Cap index was up 0.56% while the S&P BSE Small-Cap index was up 0.83%.
The market breadth was strong. On the BSE, 1474 shares rose and 547 shares fell. A total of 116 shares were unchanged. In Nifty 50 index, 38 stocks advanced while 12 stocks declined.
Buzzing Index:
The Nifty Metal index was up 1.66% at 2,811.75. The index fell 2.9% on Monday amid geo-political tensions in Middle East and weak global sentiment.
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Hindustan Copper (up 2.69%), Vedanta (up 2.62%), Tata Steel (up 1.43%), Steel Authority of India (up 1.12%), National Aluminium Company (up 0.92%), Hindalco Industries (up 0.79%), Jindal Steel & Power (up 0.75%) and Hindustan Zinc (up 0.73%) were top gainers in metal segment.
Stocks in Spotlight:
Mahindra & Mahindra (M&M) rose 0.56% after reporting 22.54% rise in production at 33,888 units in December 2019 as compared to 27,653 units during the same period a year ago.
Jet Airways was locked in an upper circuit of 5% at Rs 37.65 after the media reported that South America's Synergy Group has submitted a fresh expression of interest (EOI) for debt ridden Jet Airways.
Mishra Dhatu Nigam rose 2.03% after the company dispatched its first consignment of ultra high strength steel for ignitor box and cobalt alloy for throat sitting rings for indigenous manned mission of Indian Space Research Organisation (ISRO) 'Gaganyaan' which will carry its Vyomanauts to space.
Foreign Markets:
Most Asian markets were trading higher as a day passed without a new escalation in the Middle East and Wall Street erased early losses to end higher.
US stocks staged a U-turn on Monday to close at session highs, as investors brushed aside concerns about escalating tensions in the Middle East.
In economic data, the IHS Markit purchasing managers index for the US services sector came in at 52.8 in December, versus 51.6 in November, indicating continued expansion.
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