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Barometers trade with small gains, broader mkt outperforms

Published on Dec 11, 2023 11:33

The domestic equity indices traded with minor gains in mid-morning trade. The Nifty traded around the 21,000 level. Oil & gas stocks advanced after declining in the past trading session.

At 11:29 IST, the barometer index, the S&P BSE Sensex, was up 94.69 points or 0.14% to 69,920.29. The Nifty 50 index added 24.85 points or 0.12% to 20,994.25.

The Nifty and the Sensex hit all-time highs in morning trade at 21,026.10 and 70,057.83, respectively.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index and the S&P BSE Small-Cap index gained 0.61%.

The market breadth was strong. On the BSE, 2,332 shares rose and 1,332 shares fell. A total of 181 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index rose 0.77% to 9,114.10. The index shed 0.72% in the past trading session.

Aegis Logistics (up 2.24%), Oil & Natural Gas Corpn (up 1.81%), Indian Oil Corporation (up 1.26%), Mahanagar Gas (up 1.07%), Adani Total Gas (up 0.89%), GAIL (India) (up 0.86%), Gujarat Gas (up 0.84%), Petronet LNG (up 0.79%), Oil India (up 0.78%) and Indraprastha Gas (up 0.74%) edged higher.

Global Markets:

Asian stocks were mostly trading higher on Monday as investors assessed November inflation numbers from China, which declined at a faster-than-expected pace.

November inflation numbers from China showed a faster-than-expected decline in consumer prices. The consumer price index fell 0.5% year-on-year. The producer price index fell 3% year-on-year, compared with October�s 2.6% drop.

US stocks hit a new high for the year on Friday after the November jobs report and University of Michigan consumer survey data signaled a resilient economy and cooling inflation, fueling hopes for a so-called soft-landing scenario.

November�s nonfarm payrolls report showed an unexpected drop in unemployment. The jobless rate fell 3.7%. The US economy added 199,000 jobs during November, from 150,000 added in October.

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