Benchmarks trade with minor cuts; auto shares advance

The key equity indices traded with moderate cuts in mid-afternoon trade. The Nifty traded below the 21,600 level. Auto shares advanced after declining in the past trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 142.79 points or 0.20% to 71,498.01. The Nifty 50 index added 71.65 points or 0.33% to 21,584.65.

In the broader market, the S&P BSE Mid-Cap index gained 0.08% and the S&P BSE Small-Cap index advanced 0.32%.

The market breadth was positive. On the BSE, 2,263 shares rose and 1,529 shares fell. A total of 124 shares were unchanged.

Buzzing Index:

The Nifty Auto index rose 0.89% to 47,498.15. The index fell 0.31% in the past trading session.

Hero MotoCorp (up 2.75%), Balkrishna Industries (up 2.44%), Bajaj Auto (up 1.88%), Bharat Forge (up 1.83%), Bosch (up 1.64%), Motherson International (up 1.47%), Tata Motors (up 1.44%), Mahindra & Mahindra (up 1.04%), Maruti Suzuki India (up 0.54%) and MRF (up 0.34%) edged higher.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper shed 0.01% to 7.191 as compared with the previous close of 7.203.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.0700, compared with its close of 83.1400 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement advanced 0.33% to Rs 62,300.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.13% to 102.34.

The United States 10-year bond yield rose 0.04% to 4.044.

In the commodities market, Brent crude for March 2024 settlement added 79 cents or 1.04% to $76.91 a barrel.

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