Indices trade with minor losses; PSU Bank shares decline

The domestic equity benchmarks traded with small losses in mid-afternoon trade. The Nifty traded below the 19,800 level. PSU Bank shares declined for the second consecutive trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 89.52 points or 0.14% to 65,841.25. The Nifty 50 index lost 23.45 points or 0.12% to 19,759.95.

In the broader market, the S&P BSE Mid-Cap index rose 0.10% while the S&P BSE Small-Cap index fell 0.70%.

The market breadth was negative. On the BSE, 1,538 shares rose and 2,119 shares fell. A total of 130 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index declined 1.44% to 4,979.55. The index fell 1.79% for second trading session.

Indian Bank (down 2.46%), Central Bank of India (down 2.21%), Punjab National Bank (down 2.11%), Union Bank of India (down 2.1%) and UCO Bank (down 2.08%) were the top losers.

Among the other losers were Punjab & Sind Bank (down 2.03%), Bank of Maharashtra (down 1.91%), Indian Overseas Bank (down 1.5%), Bank of India (down 0.95%) and Bank of Baroda (down 0.95%).

Numbers to track:

The yield on India`s 10-year benchmark federal paper shed 0.12% to 7.260 as compared with previous close 7.269.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3225, compared with its close of 83.2800 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement declined 0.01% to Rs 61,216.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.29% to 103.87.

The United States 10-year bond yield lost 0.20% to 4.409.

In the commodities market, Brent crude for January 2024 settlement rose 3 cent or 0.04% to $82.48 a barrel.

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