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Indices trade flat; strong market breadth

Published on Aug 19, 2022 09:28

The key equity benchmarks traded flat, with some positive bias in morning trade. The Nifty traded above the 17,650 mark. IT, metal and auto stocks advanced while banks and realty stocks lagged behind.

At 09:27 IST, the barometer index, the S&P BSE Sensex, was up 29.36 points or 0.05% to 60,327.36. The Nifty 50 index lost 8.65 points or 0.05% to 17,965.15.

In the broader market, the S&P BSE Mid-Cap index rose 0.25% while the S&P BSE Small-Cap index gained 0.45%.

The market breadth was strong. On the NSE, 1739 shares rose and 838 shares fell. A total of 111 shares were unchanged.

Stocks in Spotlight:

Wipro rose 1.29%. The company announced that it has been awarded a multi-year contract to deliver Service Integration and Management (SIAM) Services to HM Treasury (HMT). The service will enable seamless integration of IT services across multi-functional suppliers and partners, enhancing the user experience across HMT and its Arm`s Length Bodies.

Metropolis Healthcare slipped 1.22%. The company released Vijender Singh from the position of CEO from the closing of business hours of 17 August 2022. Further, Metropolis Healthcare said it has appointed a talent search agency and has begun the process of finding a suitable candidate for the position of CEO.

Greenpanel Industries gained 1.44%. Rating agency ICRA upgraded the long term ratings of the company to A+ (stable) and short term ratings to A1+, from A and A1, respectively.

Global Markets:

Asian stocks are trading on a mixed note on Friday against a muted Wall Street looking to revive its recent market rally.

Japan`s core consumer inflation accelerated in July to its fastest in seven-and-a-half years. The core consumer price index (CPI), which excludes fresh food prices, rose 2.4% in July from a year earlier, matching a median market forecast, government data showed on Friday. That followed a 2.2% gain in June and marked the fastest pace since December 2014, excluding sales tax hike effects.

US stocks ended higher Thursday as an upbeat sales forecast from Cisco Systems helped to lift the technology sector, while data showed the economy remained relatively strong.

Sales of previously occupied US homes slowed for the sixth consecutive month in July. The National Association of Realtors said Thursday that existing home sales fell 5.9% last month from June to a seasonally adjusted annual rate of 4.81 million.

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