Shares turn flat; most metal shares decline

15 Jun 2022 , 02:29 PM

The key equity benchmarks traded almost flat in mid-afternoon trade. The Nifty slipped below the 15,750 level. Metal shares witnessed some bit of selling pressure. At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 18.35 points or 0.03% to 52,711.92. The Nifty 50 index added 1.60 points or 0.01% to 15,733.70. The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.64% while the S&P BSE Small-Cap index added 0.57%. The market breadth was strong. On the BSE, 1,905 shares rose and 1,342 shares fell. A total of 145 shares were unchanged. Volatility persisted in markets across the globe ahead of the US Feds decision on interest rates, which will be announced later today. Fridays red-hot inflation data from the US has raised the market expectations of an interest rate hike by 75 basis points, the largest in 28 years. Buzzing Index: The Nifty Metal index shed 0.76% to 4,980.30. The index had gained 0.37% to end at 5,018.30 yesterday. Among the index components, Tata Steel (down 3.35%), Jindal Stainless (down 2.57%), National Aluminium Company (down 1.38%), Welspun Corp (down 0.77%) and Steel Authority of India (down 0.28%) were the top losers. On the other hand, APL Apollo Tubes (up 4.31%) ,Hindustan Zinc (up 2.43%) and Hindustan Copper (up 1.87%) moved up. Stocks in Spotlight: Genesys International Corporation was locked in 5% upper circuit at Rs 584.30. The company received an investment of Rs 250 crore equity led by Malabar India Fund and other marquee investors. The funds have been raised for accelerating the companys 3D digital twin content program. Cantabil Retail India shed 0.40%. The company said that ICRA had upgraded its long-term rating on the bank facilities of the company to ?[ICRA] A- (Stable)? from ?[ICRA] BBB+?. The credit rating agency has also revised the short-term rating to [ICRA] A2+? from [ICRA] A2?. Numbers to Track: The yield on Indias 10-year benchmark federal paper rose to 7.605% as compared with 7.581% at the close of the previous trading session. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 78.0550, compared with its close of 78.0450 during the previous trading session. MCX Gold futures for 5 August 2022 settlement rose 0.50% to Rs 50,448. The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, was down 0.68% to 104.80. In the commodities market, Brent crude for August 2022 settlement fell 52 cents or 0.43% to $120.65 a barrel. Powered by Capital Market – Live News