BROADER MKT OUTPERFORMS; METAL SHARES LOSE SHINE

The benchmark indices traded with minor cuts in mid-afternoon trade. The Nifty traded below the 19,650 mark. Metal shares witnessed selling pressure for sixth consecutive trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 88.13 points or 0.13% to 65,921.02. The Nifty 50 index lost 25.55 points or 0.13% to 19,648.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.24% while the S&P BSE Small-Cap index gained 0.14%.

The market breadth was almost even. On the BSE, 1,845 shares rose and 1,856 shares fell. A total of 197 shares were unchanged.

Buzzing Index:

The Nifty Metal index declined 0.57% to 6,723.35. The index had tumbled 4.59% in the six sessions.

APL Apollo Tubes (down 2.11%), Hindalco Industries (down 2.09%), Jindal Stainless (down 1.6%), Ratnamani Metals & Tubes (down 1.22%) and NMDC (down 0.91%), Hindustan Zinc (down 0.67%), Adani Enterprises (down 0.29%), Steel Authority of India (down 0.27%) and Vedanta (down 0.16%) declined.

On the other hand, Hindustan Copper (up 2.22%) ,Jindal Steel & Power (up 1.5%) and JSW Steel (up 0.75%) advanced.

Numbers to track:

The yield on India`s 10-year benchmark federal paper fell 0.07% to 7.145 from its previous close of 7.150.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.1250, compared with its close of 83.94 during the previous trading session.

MCX Gold futures for 5 October 2023 settlement declined 0.06% to Rs 58,908.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.14% to 105.72.

The United States 10-year bond yield gained 1.09% to 4.488.

In the commodities market, Brent crude for November 2023 settlement advanced 55 cents or 0.59% to $93.82 a barrel.

Stocks in Spotlight:

DCX Systems added 3.88%. The company announced that its wholly owned subsidiary Raneal Advanced Systems is ready to commence the commercial production of printed circuit board (PCB) assembly from 25 September 2023 onwards.

Shree Renuka Sugars jumped 2.65% after the company entered into binding agreement to acquire 100% stake in Anamika Sugars Mills (Anamika) for total consideration of Rs 235.5 crore.

Apar Industries advanced 2.38% after CARE Ratings upgraded its long-term rating on the bank facilities of the company to �CARE A+; Stable� from �CARE A; Positive�.

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