Key benchmark indices firmed up in mid-afternoon trade amid broad-based buying support. At 14:20 IST, the barometer index, the S&P BSE Sensex, added 197.90 points or 0.51% at 38,726.22. The Nifty 50 index gained 59.5 points or 0.52% at 11,444.15.
In the broader market, the S&P BSE Mid-Cap index was gained 0.85% while the S&P BSE Small-Cap index rallied 1.29%.
Buyers outpaced sellers. On the BSE, 1796 shares rose and 904 shares fell. A total of 163 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,134.57 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 379.38 crore in the Indian equity market on 18 August, provisional data showed.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 22,059,933 with 7,79,557 deaths. India reported 6,76,514 active cases of COVID-19 infection and 52,889 deaths while 20,37,870 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Numbers to Track:
The yield on 10-year benchmark federal paper rose to 6.01% compared with previous closing of 5.986% in the previous trading session.
In the foreign exchange market, the partially convertible rupee edged lower to 74.825 compared with its previous closing 74.76.
In the commodities market, Brent crude for October 2020 settlement fell 46 cents to $45 a barrel. The contract rose 0.2% to end at $45.46 in the previous trading session.
MCX Gold futures for 5 October 2020 settlement declined 0.74% to Rs 53,175.
Buzzing Index:
The Nifty Media index jumped 3.77% to 1,527.15. The index has gained 9% in three days.
Zee Entertainment (up 8.48%), Inox Leisure (up 6.71%), PVR (up 5.48%), DB Corp (up 1.52%) and Jagran Prakashan (up 0.6%) were top gainers in media segment.
Stocks in Spotlight:
SML Isuzu gained 3.33%. The company informed that the credit ratings agency ICRA had revised its rating on the company's long term (bank facilities) to [ICRA A+] (Negative) from [ICRA AA-] (Negative). The ratings agency has reaffirmed its rating on the company's short term (banking facilities & commercial paper) at [ICRA A1+]. ICRA said that the domestic commercial vehicles (CV) industry witnessed several headwinds during FY 2019-2020 with subdued macroeconomic environment, surplus capacity in the trucking system, cautious financing environment and regulatory developments related to emission norms. These headwinds were further compounded by Covid-19 pandemic having its adverse impact on the economy, and consequently demand for CVs. Accordingly, the domestic CV industry sales to contract further in the current fiscal.
Yes Bank hit an upper circuit of 5% at Rs 15.78 after the private lender said it has repaid Rs 35,000 crore to the RBI out of the total special liquidity facility (SLF) of Rs 50,000 crore drawn for interim support. In its FY20 annual report, Yes Bank's chairman Sunil Mehta said, "In addition to the Special Liquidity Facility (SLF) of Rs 50,000 crore extended by RBI, the bank has since then received strong customer liquidity inflows. I am pleased to report that the bank has, as of date repaid Rs 35,000 crore of SLF and the balance will be repaid within the timelines set by RBI."
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