Benchmarks trim gains; Nifty holds 18,150 mark; metal shares climb
Published on Jan 18, 2023 13:36
The headline equity indices trimmed gains in afternoon trade. The Nifty was hovering above the 18,150 mark. Metals and IT shares were in demand while PSU banks and realty shares tumbled.
At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 379.16 points or 0.63% to 61,034.88. The Nifty 50 index added 104.70 points or 0.58% to 18,158.
In the broader market, the S&P BSE Mid-Cap index rose 0.36% while the S&P BSE Small-Cap index gained 0.26%.
The market breadth was positive. On the BSE, 1922 shares rose, and 1506 shares fell. A total of 151 shares were unchanged.
Tata Steel (up 2.35%), Hindalco Industries (up 2.02%), HDFC Bank (up 1.67%), HDFC (up 1.57%) and Wipro (up 1.55%) were top Nifty gainers.
HDFC Life (down 1.47%), Tata Motors (down 1.18%), BPCL (down 0.86%), Ultratech Cement (down 0.84%) and Cipla (down 0.72%) were major Nifty losers.
The index of mineral production of mining and quarrying sector for the month of November, 2022 (Base: 2011-12=100) at 105.8, is 9.7% higher as compared to the level in the month of November, 2021. As per the provisional statistics of Indian Bureau of Mines (IBM), the cumulative growth for the period April-November, 2022-23 over the corresponding period of previous year is 4.7%.
Most shares in Europe and Asia traded higher on Wednesday.
The annual rate of inflation in the U.K. fell in December to 10.5%. It marked the second month of falls, after the rate slipped from a 41-year high to 10.7% in November.
Meanwhile, the Bank of Japan announced no change to its yield curve control policy.
US stocks saw mixed trend on Tuesday as weak earnings from Goldman Sachs dragged the Dow Jones Industrial Average index lower, but a jump in Tesla shares helped the Nasdaq Composite stay postive as the corporate earnings season took center stage.
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