The headline equity indices traded with strong gains in the mid-afternoon trade. Positive global cues boosted the sentiment. The Nifty traded above the 17,450 mark. PSU banks, media and realty shares advanced while pharma and healthcare index declined.
At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 475.77points or 0.81% to 58,886.75. The Nifty 50 index gained 149.90 points or 0.87% to 17,461.70.
In the broader market, the S&P BSE Mid-Cap index rose 0.77% while the S&P BSE Small-Cap index gained 0.54%.
The market breadth was strong. On the BSE, 2,040 shares rose and 1,360 shares fell. A total of 132 shares were unchanged.
Numbers to Track:
The yield on India's 10-year benchmark federal paper declined to 7.396 as compared with 7.407 at close in the previous trading session.
In the foreign exchange market, the rupee was slightly lower against the dollar. The partially convertible rupee was hovering at 82.3050, compared with its close of 82.30 during the previous trading session.
MCX Gold futures for 5 December 2022 settlement shed 0.01% to Rs 50,470.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, added 0.07% to 112.12
The United States 10-year bond yield rose 0.10% to 4.019.
In the commodities market, Brent crude for December 2022 settlement rose 21cents or 0.23% at $91.83 a barrel.
Buzzing Index:
The Nifty Metal index rose 1.18% to 5,778.60. The index shed 1.6% in two trading sessions.
Jindal Stainless (up 3.36%), Adani Enterprises (up 2.33%), Hindalco Industries (up 1.7%), MOIL (up 1.46%), Hindustan Zinc (up 1.17%), Tata Steel (up 0.9%), Steel Authority of India (up 0.77%), JSW Steel (up 0.26%), Vedanta (up 0.2%) and National Aluminium Company (up 0.15%) edged higher.
On the other hand, Ratnamani Metals & Tubes (down 0.55%), Jindal Steel & Power (down 0.5%) and Hindustan Copper (down 0.28%) declined.
Stocks in Spotlight:
Newgen Software Technologies rallied 3.04% after the company's consolidated net profit rose 57.82% to Rs 30.27 crore on 20.34% increase in net sales to Rs 226.11 crore in Q2 September 2022 over Q1 June 2022.
Container Corporation of India (CONCOR) rose 1.31%. CONCOR said that total throughput increased by 16.63% to 11,43,895 twenty-foot equivalent units (TEUs) in Q2 FY23 from 9,80,757 TEUs in Q2 FY22. While the export-import (EXIM) throughput jumped 18.24% year on year to 9,36,950 TEUs in quarter ended 30 September 2022. Domestic (DOM) throughput improved by 9.88% to 2,06,945 TEUs in Q2 FY23 over Q2 FY22.
SJVN gained 2.64% after the company said that its wholly owned subsidiary, SJVN Green Energy signed a Memorandum of Understanding (MoU) with Assam Power Distribution Company for developing 1,000 MW floating solar power projects in Assam by incorporating a joint venture company. SJVN further said that it will make an investment of Rs 6,000 crore in the state for the development of the project.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
