Indices off day`s high
Published on Feb 21, 2022 14:27
Indices reversed gains and traded with tiny losses in mid afternoon trade. The Nifty hovered above the 17,250 level.
At 14:25 IST, the barometer index, the S&P BSE Sensex, fell 19.95 points or 0.03% at 57,814.05. The Nifty 50 index declined 25.5 points or 0.15% at 17,250.45.
The broader market underperformed the main indices. The S&P BSE Mid-Cap index fell 0.53% while the S&P BSE Small-Cap index slipped 1.59%.
The market breadth was weak. On the BSE, 778 shares rose and 2650 shares fell. A total of 148 shares were unchanged.
Broader Market Losers:
Dhani Services (down 16.4%), ICICI Securities (down 5.91%), BHEL (down 5.24%), Hindustan Copper (down 4.63%), Ajanta Pharma (down 3.35%) and Tata Elxsi (down 3.23%) were top losers in Mid Cap space.
Restaurants Brands Asia (down 10%), Quess Corp (down 5.51%), BEML (down 5.48%), HFCL (down 5.34%) and Suzlon Energy (down 5%) were top losers in Small Cap space.
Numbers to Track:
The yield on 10-year benchmark federal paper rose to 6.688% as compared with 6.663% at close in the previous trading session.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 74.4350, compared with its close of 74.66 during the previous trading session.
MCX Gold futures for 5 April 2022 settlement fell 0.31% to Rs 49,955.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, fell 0.27% to 95.76.
In the commodities market, Brent crude for April 2022 settlement rose 15 cents at $93.69 a barrel.
Stocks in Spotlight:
Tata Power fell 0.35%. RWE and Tata Power agreed on a partnership to explore the potential for a joint development of offshore wind projects in India. A Memorandum of Understanding (MoU) has been signed between Tata Power Renewable Energy, a 100% subsidiary of Tata Power and one of India`s largest integrated power companies, and RWE Renewables GmbH, one of the key player in offshore wind. The MoU between Tata Power Renewable Energy and RWE becomes significant in the light of the Government of India`s announcement of achieving 30 gigawatts (GW) of offshore wind installations by 2030 to meet the country`s growing power demands.
Johnson Pharmacare down 4.4%. The board of Johnson Pharmacare, on Friday, 18 February 2022, approved and recommended the issuance of fully paid-up bonus shares in the ratio of 1:10 (i.e. one fully paid up equity share for every ten fully paid up equity share held).
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