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Key equity indices came off the day's high and traded with minor gains in mid-afternoon trade. The Nifty traded a tad below the 18,600 level after hitting day's high of 18,633.60. Metal shares edged higher after declining for the past trading session.
At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 83.10 points or 0.13% to 62,708.73. The Nifty 50 index rose 32.50 points or 0.18% to 18,595.90
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.37% while the S&P BSE Small-Cap index gained 0.51%.
The market breadth was positive. On the BSE, 2,129 shares rose and 1,550 shares fell. A total of 138 shares were unchanged.
Numbers to track:
The yield on India's 10-year benchmark federal paper shed 0.24% to 7.022 from previous close of 7.039.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.44, compared with its close of 82.47 during the previous trading session.
MCX Gold futures for 4 August 2023 settlement advanced 0.07% to Rs 59,860.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.22% to 103.33.
The United States 10-year bond yield jumped 0.46% to 3.761.
In the commodities market, Brent crude for August 2023 settlement rose $1.41 or 1.89% to $73.38 a barrel.
Buzzing Index:
The Nifty Metal jumped 0.86% to 6,091. The index declined 0.47% in a past trading session.
APL Apollo Tubes (up 2.71%), National Aluminium Company (up 1.54%), Adani Enterprises (up 1.46%), Steel Authority of India (up 1.03%), Tata Steel (up 0.92%), Welspun Corp (up 0.84%), Jindal Stainless (up 0.75%), NMDC (up 0.7%), Hindalco Industries (up 0.64%) and Vedanta (up 0.6%) advanced.
On the other hand, Ratnamani Metals & Tubes (down 0.82%), Hindustan Zinc (down 0.38%), edged lower.
Stocks in Spotlight :
J.B.Chemicals & Pharmaceuticals dropped 1.02%. The company said that its formulations manufacturing facility- T20 located at Panoli, Gujarat was inspected by the United States Food and Drug Administration (USFDA).
Gujarat Pipavav Port rose 1.38% after the company announced that the operations at Pipavav Port have been suspended since Saturday, 10 June 2023, as a result of intensifying Cyclone Biparjoy.
MIC Electronics rallied 4.73% after the company has received work order from Nagpur Railway Division for Rs 8.37 crore.
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