Key indices gave up gains and slipped into negative territory in mid afternoon trade. The Nifty was hovering at the 18,000 mark. FMCG, auto, metal and consumer durables stocks were in demand. On the other hand, banks and financial shares corrected after a stellar rally in the previous session.
At 14:30 IST, the S&P BSE Sensex fell 286.35 points or 0.47% at 60,325.19. The Nifty 50 index shed 35.6 points or 0.2% at 18,017.15.
The broader market rallied. The S&P BSE Mid-Cap index rose 1.31% while the S&P BSE Small-Cap index gained 1.59%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, shares 2403 rose and 949 shares fell. A total of 121 shares were unchanged.
Broader Market Gainers:
Dhani Services (up 9%), Polycab India (up 6.96%), IndiaMART InterMESH (up 5%), Dixon Technologies (up 4.37%) and JSW Energy (up 4.11%) were top gainers in Mid Cap space.
Swan Energy (up 20%), Dilip Buildcon (up 19.55%), Omaxe (up 18.1%), Chennai Petroleum (up 12.28%) and Avanti Feeds (up 8.3%) were top gainers in Small cap space.
Numbers to Track:
The yield on 10-year benchmark federal paper remained unchanged at 6.898%.
In the foreign exchange market, the rupee was higher against the dollar. The partially convertible rupee was hovering at 75.335, compared with its close of 75.53 during the previous trading session.
MCX Gold futures for 5 April 2022 settlement fell 0.11% to Rs 51,474.
The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, rose 0.01% to 98.98.
In the commodities market, Brent crude for May 2022 settlement rose 64 cents or 0.6% at $108.17 a barrel.
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