Key barometers traded with minor gains in mid-afternoon trade. Profit booking was witnessed after the Sensex, the Nifty and the Nifty Bank hit record high levels in morning trade. At 14:21 IST, the barometer index, the S&P BSE Sensex, was up 38.54 points or 0.09% at 40,927.77. The Nifty 50 index was up 1.25 points or 0.01% at 12,075.
The broader market corrected. The S&P BSE Mid-Cap index was down 0.35%. The S&P BSE Small-Cap index was down 0.01%.
The market breadth turned negative from positive. On the BSE, 1103 shares rose and 1313 shares fell. A total of 169 shares were unchanged. In Nifty 50 index, 18 stocks advanced and 32 stocks declined.
Buzzing Index:
The Nifty Pharma rose 0.28% to 8,234.20, extending gains for second consecutive session. The index rose 2.07% to 8,234.20 from a recent closing high of 8067.20 on 22 November 2019.
Wockhardt (up 1.97%), Lupin (up 1.91%), Alkem Laboratories (up 1.75%), IPCA Laboratories (up 1.62%), Dr Reddy's Laboratories (up 1.44%), Divi's Laboratories (up 1.33%), Aurobindo Pharma (up 1.11%) and Cipla (up 0.27%) advanced.
Glenmark Pharmaceuticals (down 3.76%), Piramal Enterprises (down 1.35%), Sun Pharmaceutical Industries (down 1.34%), GlaxoSmithKline Pharmaceuticals (down 0.8%), Strides Shasun (down 0.72%) and Cadila Healthcare (down 0.1%) declined.
Stocks in Spotlight:
DCM Shriram declined 6.81% to Rs 335.80 on profit taking after a recent steep rally. Shares of DCM Shriram soared 15.21% in the past two trading sessions to settle at Rs 360.35 yesterday, 25 November 2019, from its close of Rs 312.75 on 21 November 2019.
TVS Motor Company announced the launch of TVS Apache RTR 200 4V and TVS Apache RTR 160 4V motorcycles. This series of TVS Apache RTR 4V motorcycles will be first rollout of BS-VI vehicles from the stable of TVS Motor Company. The new Apache RTR 200 will be priced between Rs 99,500 to Rs 1,24,000 depending on company's model. Shares of TVS were trading 0.14% lower at Rs 454.60.
Numbers to track:
The yield on 10-year benchmark federal paper rose to 6.483% at 14:16 IST compared with 6.468% in the previous trading session.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 71.595, compared with its close of 71.74 during the previous trading session.
In the commodities market, Brent crude for January 2020 settlement was up 2 cents at $63.67 a barrel. The contract rose 0.41% or 26 cents to settle at $63.65 a barrel during the previous trading session.
MCX Gold futures for 5 December 2019 settlement fell 0.14% to Rs 37,672.
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