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Nifty above 17,950; Broader market trades higher

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Capital Market
Last Updated : Oct 12 2021 | 2:50 PM IST
Barometers traded with small gains in mid afternoon trade. The Nifty traded above the 17,950 level. High crude oil prices and a weak rupee capped gains.

At 14:32 IST, the barometer index, the S&P BSE Sensex, was up 51.36 points or 0.09% at 60,187.22. The Nifty 50 index rose 20.15 or 0.11% to 17,966.1.

The broader market outperformed the main indices. The S&P BSE Mid-Cap index rose 0.51% while the S&P BSE Small-Cap index was up 0.26%.

The market breadth was almost even. On the BSE, 1686 shares rose and 1603 shares fell. A total of 150 shares were unchanged.

Broader Market Gainers:

BHEL (up 5.99%), Canara Bank (up 5%), Whirlpool of India (up 4.54%), Castrol (up 4.53%) and Union Bank of India (up 4.5%) were top gainers in Mid Cap segment.

Indian Bank (up 17.75%), Radico Khaitan (up 17%), Ujjivan Small Finance Bank (up 9.6%), Alok Inds (up 7%) and TV 18 Broadcast (up 7%) were top gainers in Small Cap space.

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Stocks in Spotlight:

Container Corporation of India (CONCOR) rose 0.98%. The company said that its total physical volumes handled increased by 10.74% to 9,80,757 twenty-foot equivalent units (TEUs) in Q2 FY22 as compared with 8,85,673 TEUs in Q2 FY21. The physical volumes have, however, declined by 1.11% from 9,91,746 TEUs in Q1 FY22. While the domestic physical volumes jumped by 33.68% to 1,88,332 TEUs, export-import (EXIM) physical volumes improved by 6.40% to 7,92,425 in Q2 FY22 over Q2 FY21.

Tata Power Company advanced 1.96% to Rs 195.30 after the company's wholly-owned subsidiary Tata Power Solar Systems bagged EPC orders worth Rs 538 crore from Energy Efficiency Services (EESL). The contract is for setting up multiple distributed ground mounted solar projects totalling 100 MW. The EESL project sites are located in Maharashtra. The work secured includes engineering, design, supply, construction, erection, testing, O&M and commissioning of the solar projects. The commissioning date of the projects is set for 12 months

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement rose 0.26% to Rs 47,172.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.337% as compared with its previous closing of 6.340%.

In the commodities market, Brent crude for December 2021 settlement advanced 37 cents or 0.39% to $83.96 a barrel.

In the foreign exchange market, the partially convertible rupee fell to 75.4625 from its previous closing of 75.36.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 94.297.

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First Published: Oct 12 2021 | 2:32 PM IST

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