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Barometers trade sideways; breadth strong

7 Jan 2022 , 02:27 PM

The benchmark indices hovered near the flat line during mid-afternoon trade. Oil & gas, FMCG and IT stocks supported the benchmarks while auto and consumer durable scrips declined. The Nifty hovered a tad above 17,750 mark.

At 14:30 IST, the barometer index, the S&P BSE Sensex, fell 20.38 points or 0.03% at 59,581.46. The Nifty 50 index rose 12.85 points or 0.07% at 17,758.75.

In the broader market, the S&P BSE Mid-Cap index gained 0.30% while the S&P BSE Small-Cap index added 0.29%.

The market breadth was strong. On the BSE, 2,066 shares rose and 1,308 shares fell. A total of 93 shares were unchanged.

COVID-19 Update:

In the last 24 hours, India records 1,17,100 new cases taking the countrys active caseload to 3,71,363. The daily positivity rate stood at 7.74%. Meanwhile, omicron tally in the country stood at 3,007.

Numbers to Track:

The yield on 10-year benchmark federal paper fell to 6.519% as compared with 6.525% at close in the previous trading session.

In the foreign exchange market, the rupee higher against the dollar. The partially convertible rupee was hovering at 74.35, compared with its close of 74.4250 during the previous trading session.

MCX Gold futures for 4 February 2022 settlement fell 0.17% to Rs 47,369.

The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, fell 0.14% to 96.18.

In the commodities market, Brent crude for March 2022 settlement rose 23 cents at $82.22 a barrel.

Buzzing Index:

The Nifty Auto index fell 0.52% to 11,258.25. The index added 5.21% in the past five trading sessions.

Mahindra & Mahindra (M&M) (down 1.51%), Tube Investments of India (down 1.44%), TVS Motor Company (down 1.17%), Bosch (down 1.12%) and Bajaj Auto (down 0.96%) were the top losers in the Auto segment.

Global Markets:

European stocks declined while Asian stocks ended mixed on Friday as fears over more aggressive tapering from the U.S. Federal Reserve set off a global market sell-off.

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