Sensex adds 170 pts; Nifty hovers above 18,250

23 Nov 2022 , 02:31 PM

The benchmark indices continued traded with decent gains in the mid-afternoon trade. The Nifty continued to hold above the 18,250 level. PSU bank, media and bank shares saw buying demand while metal and realty stocks saw a bit of selling pressure. At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 170.27 points or 0.28% to 61,589.23. The Nifty 50 index added 43.95 points or 0.24% to 18,288.15. In the broader market, the S&P BSE Mid-Cap index rose 0.23% while the S&P BSE Small-Cap index added 0.54%. The market breadth was positive. On the BSE, 1886 shares rose, and 1578 shares fell. A total of 117 shares were unchanged. Buzzing Index: The Nifty Metal index declined 0.25% to 6,431.95. The index rose 0.87% in the past trading session. Among the components of the Nifty Metal index, Hindustan Zinc Ltd (down 5.9%), Adani Enterprises Ltd (down 2.39%), Jindal Stainless Ltd (down 1.45%), Welspun Corp Ltd (down 0.64%) and Vedanta Ltd (down 0.53%) Ratnamani Metals & Tubes Ltd (down 0.42%) were the losers. On the other hand, Steel Authority of India Ltd (up 1.7%) ,JSW Steel Ltd (up 1.4%) and Hindustan Copper Ltd (up 1.34%) edged higher. Numbers to Track: The yield on Indias 10-year benchmark federal paper rose to 7.288 as compared with 7.285 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 81.8025, compared with its close of 81.67 during the previous trading session. MCX Gold futures for 5 December 2022 settlement advanced 0.09% to Rs 52,335. The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, was down 0.17% to 107.04. The United States 10-year bond yield added 0.19% to 3.829. In the commodities market, Brent crude for January 2023 settlement rose $1.07 or 1.21% to $89.43 a barrel. Stocks in Spotlight: Hindustan Motors hit an upper circuit limit of 10% after the company said it has signed a pact to extend the electric vehicle (EV) domain across the border to enhance the production of eco-friendly electric vehicle. Tata Teleservices (Maharashtra) (TTML) rose 0.66% after the company said that Tata Tele Business Services (TTBS) has announced the strategic expansion of its cloud communication suite Smartflo with WhatsApp Business Platform. Smartflo makes business communication easy, with a host of features such as, single customer view, workflow automation, AI-enabled chatbot, chat interface, advanced analytics, hyper-personalization, one-click integration and easy to integrate API platform. KPIT Technologies rallied 7% after the IT company announced that it has been selected by Renault Group as a strategic software scaling partner for next-generation software-defined vehicle (SDV) program. Renault Group expects the SDV technology programs to drive value to its roadmap of vehicle production programs that will start from 2026. Powered by Capital Market – Live News