Equity barometers turn volatile; PSU Banks fall for 3rd day
Published on May 09, 2023 14:30
The domestic equity barometers pared all gains and traded in a volatile manner in mid-afternoon trade. The Nifty, however, managed to hold above the 18,250 level. PSU Bank extended losses for third consecutive session.
At 13:28 IST, the barometer index, the S&P BSE Sensex, was down 6.24 points or 0.01% to 61,758.01. The Nifty 50 index added 0.50 points to 18,264.90.
In the broader market, the S&P BSE Mid-Cap index rose 0.02% while the S&P BSE Small-Cap index shed 0.29%.
The market breadth was negative. On the BSE, 1,582 shares rose and 1,869 shares fell. A total of 154 shares were unchanged.
Investor attention remains centered on important US inflation data scheduled for release this week, along with earnings of over 300 companies on the Dalal Street and the outcome of a state election in India.
Numbers to track:
The yield on India`s 10-year benchmark federal paper declined 0.03% to 7.045 from 7.047 in previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.1325, compared with its close of 81.7800 during the previous trading session.
MCX Gold futures for 5 June 2023 settlement added 0.38% to Rs 61,156.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.15% to 101.57.
The United States 10-year bond yield fell 0.61% to 3.498.
In the commodities market, Brent crude for July 2023 settlement lost 77 cents or 1% to $76.24 a barrel.
The Nifty PSU Bank index fell 2.45% to 4,014.15. The index has fallen 4.30% in three sessions.
Indian Bank (down 4.85%), Punjab National Bank (down 3.26%), Bank of India (down 2.83%), UCO Bank (down 2.83%) and Central Bank of India (down 2.81%) were the top losers.
Among the other losers were Canara Bank (down 2.7%), Union Bank of India (down 2.64%), Bank of Baroda (down 2.1%), Punjab & Sind Bank (down 1.85%) and State Bank of India (down 1.57%).
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