Sensex spurts 259 pts, metal stocks shine

The domestic equity barometers traded with modest gains in the mid-afternoon trade. The Nifty traded above the 17,550 level after hitting day`s low of 17,345.20 in the early trade. Barring the Nifty IT index, all the sectoral indices on the NSE were in the green.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 259.12 points or 0.44% to 59,032.99. The Nifty 50 index added 85.60 points or 0.49% to 17,576.30.

In the broader market, the S&P BSE Mid-Cap index gained 0.86% while the S&P BSE Small-Cap index rose 0.68%.

The market breadth was strong. On the BSE, 2,037 shares rose and 1,308 shares fell. A total of 161 shares were unchanged.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose to 7.285 as compared with 7.270 at close in the previous trading session.

In the foreign exchange market, the rupee was higher against the dollar. The partially convertible rupee was hovering at 79.8375, compared with its close of 79.84 during the previous trading session.

MCX Gold futures for 5 October 2022 settlement added 0.21% to Rs 51,272.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, shed 0.09 % to 108.95.

In the commodities market, Brent crude for October 2022 settlement rose $1.02 or 1.06% at $97.50 a barrel.

Buzzing Index:

The Nifty Metal index gained 1.17% to 5,774.75. The index lost 4.5% in two trading sessions.

Welspun Corp (up 4.26%), MOIL (up 3.63%), Hindustan Copper (up 2.75%), National Aluminium Company (up 2.73%), Hindalco Industries (up 2.32%), Steel Authority of India (up 2.11%), Vedanta (up 1.99%), Jindal Steel & Power (up 1.93%), Tata Steel (up 1.86%) and Hindustan Zinc (up 1.34%) edged higher.

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