Partner With Us NRI

Barometers turn rangebound; metal shares rises

Published on Feb 02, 2024 14:39

The key equity indices traded in range bound with moderate gains in mid-afternoon trade. The Nifty traded above the 21,850 level. Metal shares advanced after declining in the past trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex, was up 497.29 points or 0.69% to 72,142.59 . The Nifty 50 index added 176.85 points or 0.82% to 21,874.30.

The benchmark, Nifty50 index hit an all-time high at 22,126.80 in early afternoon trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.98% and the S&P BSE Small-Cap index added 0.68%.

The market breadth was positive. On the BSE, 2,072 shares rose and 1,721 shares fell. A total of 107 shares were unchanged.

Buzzing Index:

The Nifty Metal index added 2.45% to 8,084.30. The index declined 1.03% in the past trading session.

Steel Authority of India (up 6.96%), Jindal Stainless (up 6.54%), National Aluminium Company (up 5.34%), NMDC (up 5.04%), Jindal Steel & Power (up 3.78%), Tata Steel (up 3.04%), JSW Steel (up 2.41%), Hindalco Industries (up 2.22%), Vedanta (up 1.96%) and Hindustan Copper (up 1.28%) advanced.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper fell 0.38% to 7.037 as compared with previous close 7.064.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.8750, compared with its close of 82.9800 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement declined 0.73% to Rs 63,199.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was shed 0.02% to 103.03.

The United States 10-year bond yield rose 0.55% to 3.881.

In the commodities market, Brent crude for April 2024 settlement rose 36 cents or 0.46% to $ 79.06 a barrel.

Stocks in Spotlight:

Mphasis fell 1.78% after the company`s consolidated net profit declined 4.68% to Rs 373.60 crore in Q3 FY24 as compared with Rs 391.94 crore in Q2 FY24. Revenue from operations rose 1.88% to Rs 3,337.94 crore in Q3 FY24 as against Rs 3,276.50 crore recorded in Q2 FY24.

Gokaldas Exports (GEL) jumped 4.18% after the company announced that it has signed an agreement with Matrix Clothing to acquire 100% of the equity share capital of Matrix Design & Industries at an enterprise value of Rs 489 crore.

Abbott India surged 7.92% after the company`s net profit increased 26% to Rs 310.98 crore in Q3 FY24 as compared with Rs 246.83 crore in Q3 FY23. Revenue from operations was at Rs 1,437.14 crore in Q3 FY24, up 8.69% from Rs 1,322.19 crore reported in the same quarter previous year.

Powered by Capital Market - Live News