Indices trade with modest gains, metal stocks shine

The domestic equity benchmarks traded with moderate gains in mid-afternoon trade. The Nifty scaled above the 17,950 level after hitting the day's low of 17,774.25 in morning trade. The Sensex reclaimed the 60,000 level. Barring the Nifty Consumer Durables index, all the sectoral indices on the NSE were in the green.

At 14:30 IST, the barometer index, the S&P BSE Sensex was up 328.01 points or 0.55% to 60,286.04 . The Nifty 50 index added 108.25 points or 0.61% to 17,966.45.

In the broader market, the S&P BSE Mid-Cap index rose 0.07% while the S&P BSE Small-Cap index gained 0.24%.

The market breadth was positive. On the BSE, 1,997 shares rose, and 1,437 shares fell. A total of 152 shares were unchanged.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose to 7.288 from its close of 7.286 recorded in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 81.34, compared with its close of 81.30 during the previous trading session.

MCX Gold futures for 3 February 2023 settlement added 0.54% to Rs 56,178.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.21% to 102.03.

The United States 10-year bond yield fell 0.59% to 3.427.

In the commodities market, Brent crude for March 2023 settlement added 23 cents or 0.27% to $84.26 a barrel.

Buzzing Index:

The Nifty Metal index rose 1.21% to 6,865.95. The index shed 0.13% in the past trading session.

Jindal Stainless (up 2.24%), Adani Enterprises (up 2.13%), Tata Steel (up 1.82%), MOIL (up 1.8%), National Aluminium Company (up 1.33%), Hindustan Zinc (up 1.29%), Steel Authority of India (up 1.25%), Jindal Steel & Power (up 0.95%), Vedanta (up 0.95%) and Hindustan Copper (up 0.88%) advanced.

Powered by Capital Market - Live News