Shares trade with modest gains; metal stocks rise for 3rd day

Image
Capital Market
Last Updated : Sep 06 2022 | 2:50 PM IST

The domestic equity barometers continued to trade with modest gains in mid-afternoon trade. The Nifty hovered near the 17,700 mark. Metal stocks advanced for third consecutive session.

At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 87.33 points or 0.15% to 59,333.04. The Nifty 50 index gained 28.15 points or 0.16% to 17,693.95.

In the broader market, the S&P BSE Mid-Cap index rose 0.49% while the S&P BSE Small-Cap index added 0.27%.

The market breadth was positive. On the BSE, 1772 shares rose and 1630 shares fell. A total of 144 shares were unchanged.

Economy:

India's overall coal production increased by 8.27% to over 58 million ton in August this year as compared to the same month last year. The Coal Ministry said that of the top 37 coal producing mines in the country, 25 mines produced more than 100% while the production level of five mines stood between 80% and 100%.

At the same time, the coal despatch has also increased by 5.41% to over 63 million tonnes as compared to August last year. The Ministry said the overall power generation in August this year has been 3.14% higher than the power generated in August last year.

Meanwhile, Indian Railways (IR) has recorded best ever August monthly freight loading of 119.32 MT in August 2022. The incremental loading has been 8.69 million tonnes, a growth of 7.86% over the same month last year. The Railway Ministry said with this, Indian Railways has had 24 straight months of best ever monthly freight loading.

Numbers to Track:

The yield on India's 10-year benchmark federal paper slipped to 7.207 as compared with 7.218 at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 79.8975, compared with its close of 79.7800 during the previous trading session.

MCX Gold futures for 5 October 2022 settlement rose 0.21% to Rs 50,538.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.10% to 109.71.

In the commodities market, Brent crude for November 2022 settlement advanced $1.52 or 1.63% to $94.54 a barrel.

Buzzing Index:

The Nifty Metal index rose 0.92% to 6,040.70. The index has gained 2.75% in the past three sessions.

Adani Enterprises (up 2.58%), Hindustan Copper (up 1.54%), Jindal Steel & Power (up 1.35%), National Aluminium Company (up 0.76%) and Tata Steel (up 0.7%) advanced.

Further Steel Authority of India (up 0.56%), MOIL (up 0.39%), APL Apollo Tubes (up 0.35%), Vedanta (up 0.23%) and Jindal Stainless (up 0.19%) edged higher.

Meanwhile, Ratnamani Metals & Tubes (down 1.65%) and Welspun Corp (down 1.3%) edged lower.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 06 2022 | 2:23 PM IST

Next Story