Benchmark trade with moderate losses; PSU bank shares rises

The key equity indices traded with significant losses in mid-afternoon trade. The Nifty traded below the 21,550 mark. PSU bank shares advance after declining in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 456.22 points or 0.63% to 71,437.98. The Nifty 50 index declined 125.40 points or 0.58% to 21,540.40.

In the broader market, the S&P BSE Mid-Cap index gained 0.25% and the S&P BSE Small-Cap index added 0.30%.

The market breadth was positive. On the BSE, 2,185 shares rose and 1,607 shares fell. A total of 124 shares were unchanged.

Buzzing Index:

The Nifty PSU bank rose 1.54% to 5,823.50. The index fell 1.39% in the past trading session.

Bank of Maharashtra (up 4.29%), Canara Bank (up 4.03%), UCO Bank (up 3.39%), Indian Overseas Bank (up 2.53%) and Central Bank of India (up 2.45%) were the top gainers.

Among the other gainers were Union Bank of India (up 2.11%), Punjab & Sind Bank (up 1.95%), Bank of Baroda (up 1.8%), Bank of India (up 1.62%) and State Bank of India (up 0.97%).

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose 0.18% to 7.219 as compared with previous close 7.206

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3075, compared with its close of 83.3200 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement lost 0.19% to Rs 63139.00.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.01% to 102.21.

The United States 10-year bond yield advanced 1.02% to 3.987

In the commodities market, Brent crude for February 2024 settlement declined 0.34 cents or 0.45% to $75.55 a barrel.

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