Sensex jumps 418 pts; metal stocks lose shine

The benchmark indices were trading with modest gains in mid-afternoon trade. The Nifty was trading above 17,150 level. Gains were capped as the Dow Jones index futures were down 385 points, indicating a negative start in US stock market today. Barring the Nifty Metal index, all the sectoral indices on the NSE were in the green.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 418.51 points or 0.73% at 57,679.16. The Nifty 50 index added 110.65 points or 0.65% at 17,164.40.

Broader market was trading firm. The S&P BSE Mid-Cap index rose 1.45% while the S&P BSE Small-Cap index gained 1.8%.

Buyers outpaced sellers. On the BSE, 2,099 shares rose and 1,126 shares fell. A total of 136 shares were unchanged.

Economy:

India's Q2 GDP numbers are slated for release later today, 30 November 2021.

Buzzing Index:

The Nifty Metal index declined 0.85% to 5,259.60, extending its losing run to third trading session. The index has slipped 6.48% in three days.

Tata Steel (down 1.83%), Hindalco Industries (down 1.37%), JSW Steel (down 1.08%), Coal India (down 1.04%) and Steel Authority of India (down 0.73%) were the top losers. Among the other losers were NMDC (down 0.52%), Jindal Steel & Power (down 0.38%) and Vedanta (down 0.2%).

Numbers to Track:

The yield on 10-year benchmark federal paper rose to 6.337% as compared with 6.335% at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 75.0325, compared with its close of 75.0750 during the previous trading session.

MCX Gold futures for 3 December 2021 settlement rose 0.65% to Rs 47,895.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.53% to 95.830.

In the commodities market, Brent crude for January 2022 settlement fell $1.31 or 1.79% to $71.91 a barrel.

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