Sensex adds 394 pts; PSU banks slide

The headline equity barometers continued to trade with modest gains in mid-afternoon trade. The Nifty traded above the 18,150 mark. PSU banks declined for the second day in a row.

At 14:29 IST, the barometer index, the S&P BSE Sensex, was up 394.32 points or 0.65% to 61,050.04. The Nifty 50 index added 115.95 points or 0.64% to 18,169.25.

In the broader market, the S&P BSE Mid-Cap index rose 0.38% while the S&P BSE Small-Cap index gained 0.29%.

The market breadth was positive. On the BSE, 1909 shares rose, and 1551 shares fell. A total of 151 shares were unchanged.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined to 7.318 from its close of 7.333 recorded in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 81.4050, compared with its close of 81.6925 during the previous trading session.

MCX Gold futures for 3 February 2023 settlement lost 0.05% to Rs 56,325.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.24% to 102.14.

The United States 10-year bond yield fell 1.26% to 3.490.

In the commodities market, Brent crude for March 2023 settlement added 43 cents or 0.50% to $86.35 a barrel.

Buzzing Index:

The Nifty PSU bank index rose 0.91% to 4,228.25. The index has declined 2.73% in two trading sessions.

Bank of India (down 3.53%), Indian Bank (down 2.31%), UCO Bank (down 1.89%), Punjab & Sind Bank (down 1.87%), Bank of Baroda (down 1.62%), Punjab National Bank (down 1.04%), Indian Overseas Bank (down 0.79%), Central Bank of India (down 0.46%), Union Bank of India (down 0.31%) and State Bank of India (down 0.08%) declined.

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