Key indices traded with marginal losses in mid-afternoon trade. At 14:24 IST, the barometer index, the S&P BSE Sensex, was down 33.82 points or 0.08% at 40,322.87. The Nifty 50 index was down 1.65 points or 0.01% at 11,893.80.
The broader market continued to outperform the benchmark index. The S&P BSE Mid-Cap index was up 0.47%. The S&P BSE Small-Cap index was up 0.31%.
The market breadth was negative. On the BSE, 1135 shares rose and 1319 shares fell. A total of 196 shares were unchanged. In Nifty 50 index, 30 stocks advanced while 20 stocks declined.
Domestic Macro:
India's services exports rose 7.1% in September 2019. As per the data released by the Reserve Bank of India, India's services exports increased 7.1% to US$ 17.54 billion in September 2019 over September 2018. Meanwhile, India's services imports jumped 11.5% to US$ 11.10 billion in September 2019.
Stocks in Spotlight:
Shares of Ashoka Buildcon were trading 0.37% higher at Rs 94.6. The firm announced that its wholly owned subsidiary, Ashoka Concessions (ACL) has emerged as the Lowest Bidder for construction of a National Highway. The bid submitted is for construction of four laning of NH-161 from Kandi to Ramsanpalle in the State of Telangana. The quoted Bid Project Cost for the Project is Rs 1,000 crore.
Prabhat Dairy was trading 0.91% lower at Rs 87.4. The board of Prabhat Dairy at its meeting scheduled on 20 November 2019 will consider issuance of unlisted non-convertible redeemable debentures aggregating up to Rs 200 crore for availing finance for the business purpose.
Shares of NBCC were trading 1.87% higher at Rs 38.1. NBCC (India) in a press filing announced that it has submitted the Resolution Plan for debt ridden Jaypee Infratech on 17 November 2019 with respect to the Corporate Insolvency Resolution Process.
Reliance Infrastructure was locked in a lower circuit of 5% at Rs 36.75 after Axis Trustee Services sold 17.61 lakh equity shares, or 0.67% equity, at Rs 38.68 per share on Friday, 15 November 2019. Shares of Reliance Infrastructure (R-Infra) have fallen 21.89% to its current market price of Rs 36.75, from its recent closing high of Rs 47.05 since Friday, 8 November 2019.
Numbers to track:
The yield on 10-year benchmark federal paper fell to 6.486% at 14:12 IST compared with 6.519% in the previous trading session.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 71.785, compared with its close of 71.7875 during the previous trading session.
In the commodities market, Brent crude for January 2020 settlement was up 1 cent at $63.31 a barrel. The contract rose 1.641% to settle at $63.3 a barrel during the previous trading session.
MCX Gold futures for 5 December 2019 settlement fell 0.67% to Rs 38,011.
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