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Sensex, Nifty pare gains; metal shares lose sheen

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Last Updated : Dec 24 2024 | 2:50 PM IST
The key equity benchmarks reversed the trend and slipped into the negative terrrain in mid-afternoon trade. The Nifty declined below the 23,750 mark. Metal shares declined after advancing for the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 43.11 points or 0.05% to 78,502.64. The Nifty 50 index shed 12.40 points or 0.05% to 23,741.05.

In the broader market, the S&P BSE Mid-Cap index shed 0.02% and the S&P BSE Small-Cap index rose 0.20%.

The market breadth was negative. On the BSE, 1,938 shares rose and 2,004 shares fell. A total of 119 shares were unchanged.

Buzzing Index:

The Nifty Metal index shed 0.94% to 8,808.10. The index rose 0.96% in past trading session.

Vedanta (down 2.06%), APL Apollo Tubes (down 1.75%), Steel Authority of India (down 1.62%), Tata Steel (down 1.47%) and JSW Steel (down 1.32%), NMDC (down 1.31%), National Aluminium Company (down 1.17%), Hindalco Industries (down 0.93%), Ratnamani Metals & Tubes (down 0.7%) and Hindustan Zinc (down 0.24%) declined.

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On the other hand, Hindustan Copper (up 4.98%) ,Welspun Corp (up 2.94%) and Adani Enterprises (up 1.42%) added.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 1.67% to 6.889 as compared with the previous close of 6.888.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.1975, compared with its previous close of 85.1100 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement rose 0.18% to Rs 76,284.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 108.11.

The United States 10-year bond yield fell 0.24% to 4.588.

In the commodities market, Brent crude for February 2025 settlement added 51 cents, or 0.70% to $73.14 a barrel.

Stocks in Spotlight:

Akums Drugs and Pharmaceuticals shed 0.64%. The pharma major entered into an agreement with one of leading global pharma companies for the manufacture and supply of selected pharmaceutical formulations in the European market.

Knowledge Marine & Engineering Works added 1.93% after the companys board approved a proposal for sub-division of existing one equity share of the company into two equity shares.

Castrol India rose 0.88%. The company has announced that Deepesh Baxi will relinquish his office as Chief Financial Officer (CFO) & Wholetime Director of the company, with effect from the close of business hours on 13 March 2025.

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First Published: Dec 24 2024 | 2:32 PM IST

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