Indices pares losses and climbs near day`s high; Sensex adds 103 pts

The key equity benchmarks marched near the day`s high in mid-afternoon trade. The Nifty regained the 18,200 level after hitting the day`s low of 18,149.80 in the early trade. Consumer durables, PSU bank ans IT shares advanced while media, FMCG and auto stocks declined.

At 14:29 IST, the barometer index, the S&P BSE Sensex, was up 103.31 points or 0.17% to 61,271.10. The Nifty 50 index added 28.65 points or 0.16% to 18,226.10.

In the broader market, the S&P BSE Mid-Cap index rose 0.20% while the S&P BSE Small-Cap index gained 0.23%.

The market breadth was positive. On the BSE, 1959 shares rose and 1498 shares fell. A total of 150 shares were unchanged.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper declined to 7.334 from its close of 7.340 recorded in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.9025, compared with its close of 82.785 during the previous trading session.

MCX Gold futures for 3 February 2023 settlement added 0.67% to Rs 55,550.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.88% 104.44.

The United States 10-year bond yield fell 0.88% to 3.797.

In the commodities market, Brent crude for March 2023 settlement rose 47 cents or 0.55% to $86.38 a barrel.

Buzzing Index:

The Nifty Consumer Durables index declined 1.06% to 25,491.40. The index has slipped 0.28% in past trading session.

Havells India Ltd (up 2.63%), Whirlpool of India Ltd (up 1.63%), Titan Company Ltd (up 1.18%), Voltas Ltd (up 0.92%), Rajesh Exports Ltd (up 0.91%), Orient Electric Ltd (up 0.72%), Crompton Greaves Consumer Electricals Ltd (up 0.7%), Blue Star Ltd (up 0.69%), TTK Prestige Ltd (up 0.48%) and Dixon Technologies (India) Ltd (up 0.25%) were the gainers.

Stocks in Spotlight:

UCO Bank jumped 4.63% after the bank`s board approved a proposal for raising of Tier-I capital aggregating upto Rs 1,000 crore in the form of Additional Tier-I (AT-I) bonds in one or more tranches upto FY24 i.e., till 31 March 2024.

Maruti Suzuki India fell 0.46% after the car major said its total production fell 17.96% to 1,24,722 units in December 2022 compared with 152,029 units in December 2021.

Rama Steel Tubes advanced 3.34% after the company said its sales volume zoomed 118.34% year on year in quarter ended 31 December 2022.

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