The key equity indices traded with limited gains in mid-afternoon trade. The Nifty traded below the 19,400 mark. Oil & Gas shares witnessed decent buying demand.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 141.77 points or 0.22% to 65,422.22. The Nifty 50 index added 53.90 points or 0.28% to 19,385.70.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index lost 0.36% while the S&P BSE Small-Cap index shed 0.19%.

The market breadth was weak. On the BSE, 1,475 shares rose and 2,419 shares fell. A total of 155 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index advanced 0.92% to 7,928.90. The index had ended 0.09% lower, at 7,857 in the trading session on Friday.

Aegis Logistics (up 4.76%), Reliance Industries (up 4.4%), Oil India (up 0.41%), Gujarat State Petronet (up 0.35%) and Petronet LNG (up 0.22%) advanced.

On the other hand, Hindustan Petroleum Corporation (down 2.66%), Indraprastha Gas (down 1.65%) and Bharat Petroleum Corporation (down 1.44%) declined.

Numbers to Watch:

The yield on India's 10-year benchmark federal paper rose 0.01% to 7.160 as compared with previous closing of 7.159.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.6125, compared with its close of 82.6150 during the previous trading session.

MCX Gold futures for 4 August 2023 settlement declined 0.15% to Rs 58,696.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.12% to 102.39.

The United States 10-year bond yield rose 0.54% to 4.069

In the commodities market, Brent crude for September 2023 settlement lost 51 cents or 0.65% to $77.96 a barrel.

Stocks in Spotlight:

Prism Johnson declined 5.24% while The Ramco Cements fell 0.74%. The board of Prism Johnson has approved sale of certain freehold limestone bearing land parcels in Kotapadu and Kalavatla villages in Andhra Pradesh aggregating 1420.72 acres to The Ramco Cements.

Info Edge (India) declined 1.05%. The company said that its wholly owned subsidiary, Redstart Labs (India) has agreed to invest in Brainsight Technology. Redstart has agreed to invest an aggregate amount of Rs 98,94,000 by way of subscribing to convertible notes.

Xchanging Solutions sizzles 15.48%. The company said that its board has approved interim dividend of Rs 15 per equity share for the financial year 2023-24.