Don’t miss the latest developments in business and finance.

Barometers trade with small cuts; Nifty below 24,700

Image
Last Updated : Aug 21 2024 | 10:31 AM IST
The key benchmark indices traded with minor losses in early trade. The Nifty traded below the 24,700 level. Media, pharma and healthcare shares advanced while realty, banking and financial services shares declined.

At 09:29 IST, the barometer index, the S&P BSE Sensex, declined 109 points or 0.13% to 80,693.86. The Nifty 50 index fell 27.80 points or 0.11% to 24,671.05.

In the broader market, the S&P BSE Mid-Cap index added 0.24% and the S&P BSE Small-Cap index rose 0.53%.

The market breadth was strong. On the BSE, 2,092 shares rose and 864 shares fell. A total of 129 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,457.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,252.10 crore in the Indian equity market on 20 August 2024, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal advanced 1.62% to 6.967 as compared with previous close 6.970.

More From This Section

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.8300, compared with its close of 83.7700 during the previous trading session.

MCX Gold futures for 4 October 2024 settlement rose 0.29% to Rs 71,986.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 104.43.

The United States 10-year bond yield slipped 0.20% to 3.810.

In the commodities market, Brent crude for October 2024 settlement shed 12 cents or 0.16% to $77.08 a barrel.

Stocks in Spotlight:

Genus Power Infrastructure was locked in upper circuit of 5% after the company received three orders worth Rs 3,609 crore for the appointment of advanced metering infrastructure service providers.

Petronet LNG (PLL) rose 0.58% after the firm entered into a memorandum of understanding (MoU) with LTL Holdings (LTL) of Sri Lanka for supply of LNG to LTLs dual fuelled Power Plant(s) in Kerawalapitiya, Colombo.

CESC added 0.65% after its arm incorporated a wholly owned subsidiariy, Ecofusion Power to explore opportunities in the renewable power sector.

Global Markets:

Most Asian stocks edged lower on Wednesday, tracking a pullback on Wall Street and reflecting investor caution ahead of a key speech by Federal Reserve Chair Jerome Powell later this week.

The weakness in the U.S. market, where the Dow Jones Industrial Average closed down 0.15%, the S&P 500 fell 0.2%, and the Nasdaq Composite dropped 0.33%, spilled over into Asia.

Japan's Nikkei index likely mirrored this cautiousness, as data revealed a smaller-than-expected export growth and a surge in imports, resulting in a trade deficit for July.

Hong Kong's Hang Seng index was further pressured by a significant decline in e-commerce giant JD.com's stock price. News reports suggesting Walmart's planned sale of its stake in JD.com for $3.74 billion contributed to the 11% drop in JD stock.

Powered by Capital Market - Live News

Also Read

First Published: Aug 21 2024 | 9:34 AM IST

Next Story