Market pares gains; breadth remains negative
Published on Feb 17, 2022 14:30
The benchmark indices pared gains in mid-afternoon trade. At 14:30 IST, the barometer index, the S&P BSE Sensex, rose 63.61 points or 0.11% at 58,060.29. The Nifty 50 index gained 28.90 points or 0.17% at 17,351.10.
In the broader market, the S&P BSE Mid-Cap index rose 0.05% while the S&P BSE Small-Cap index lost 0.29%.
The market breadth was negative. On the BSE, 1,485 shares rose and 1,814 shares fell. A total of 116 shares were unchanged.
Numbers to Track:
The yield on 10-year benchmark federal paper fell to 6.683% as compared with 6.686% at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 75.0850, compared with its close of 75.0450 during the previous trading session.
MCX Gold futures for 5 April 2022 settlement rose 0.97% to Rs 50,100.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, rose 0.18% to 95.87.
In the commodities market, Brent crude for April 2022 settlement fell 97 cents at $93.84 a barrel.
The Nifty Pharma index fell 0.33% to 13,380.65. The index rose 0.51% in the last trading session.
Alembic Pharmaceuticals (down 2.75%), IPCA Laboratories (down 1.84%), Aurobindo Pharma (down 1.75%), Glenmark Pharmaceuticals (down 1.72%) and Biocon (down 1.44%) were the top losers in the Pharma segment.
The Dow Jones index futures were down 150 points, indicating a negative opening in the US stocks today.
Most European stocks declined while Asian stocks ended mixed on Thursday as investors continued to monitor geopolitical tensions in eastern Europe, while digesting a slew of corporate earnings reports.
In Asia, Japan`s January exports came in far below expectations, with official data released on Thursday showing a 9.6% year-on-year rise for that month.
NATO on Wednesday accused Russia of increasing the number of troops it has gathered at the Ukrainian border, a day after Moscow claimed it had begun withdrawing some of its military units.
According to the media reports, a senior Biden administration official said on Wednesday the United States does not believe Russia`s claim to be withdrawing troops from the Ukraine border and suspects Moscow has increased its presence by as many as 7,000 troops.
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