The key equity indices managed to pare most losses and traded with limited cuts in mid-afternoon trade. Domestic sentiments were dented amid negative global cues. The Nifty traded above the 18,050 level. Realty shares witnessed some bit of profit booking after advancing in the past three sessions. Trading could be volatile on account of monthly options expiry.
At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 120.99 points or 0.20% to 60,789.29. The Nifty 50 index lost 38.30 points or 0.21% to 18,084.20.
In the broader market, the S&P BSE Mid-Cap index declined 0.67% while the S&P BSE Small-Cap index fell 0.08%.
Sharda Cropchem (up 10.89%), Fertilizers and Chemicals Travancore (up 9.03%), Aegis Logistics (up 7.19%), KEC International (up 6.41%) and Jindal Stainless (up 4.77%) were the top broader market gainers.
Shriram Finance (down 6.06%), Kalyan Jewellers India (down 3.62%), JK Cement (down 3.39%), Tube Investments of India (down 3.33%) and Dhani Services (down 3.97%) were the top losers in the broader market segment.
The market breadth was negative. On the BSE, 1,586 shares rose, and 1,822 shares fell. A total of 169 shares were unchanged.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was currently unchanged at 7.314.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.8050, compared with its close of 82.8000 during the previous trading session.
MCX Gold futures for 3 February 2023 settlement rose 0.11% to Rs 54,819.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.17% 104.28.
The United States 10-year bond yield fell 1.01% to 3.847.
In the commodities market, Brent crude for February 2023 settlement fell $2 or 2.38% to $81.99 a barrel.
Buzzing Index:
The Nifty Realty index fell 0.76% to 423.90. The index had advanced 4.22% in the past three sessions.
Godrej Properties (down 2.06%), Macrotech Developers (down 1.37%), Brigade Enterprises (down 0.55%), Oberoi Realty (down 0.51%), DLF (down 0.47%) and Indiabulls Real Estate Ltd (down 0.19%) edged lower.
On the other hand, Sobha (up 0.7%), Sunteck Realty (up 0.21%) and Prestige Estates Projects (up 0.17%) moved up.
Stocks in Spotlight:
NACL Industries jumped 11.63%. The company announced successful commencement of commercial operations of first phase of the greenfield project effective from 28 December 2022.
State Bank of India (SBI) rose 1.06%. The bank's board on January 3 will consider a proposal for raising of infrastructure bonds up to an amount of Rs. 10,000 crores through a public issue or private placement, during FY23.
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