Indices trade near the flat line with tiny gains
(14:34, 25 Nov 2022)
The key equity barometers traded near the flat line, with some positive bias in the mid-afternoon trade. The Nifty traded below the 18,500 level. Media, auto and realty shares advanced while financial services, FMCG and bank stocks declined.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 6.06 points or 0.01% to 62,278.74. The Nifty 50 index added 15.10 points or 0.08% to 18,499.20.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index was up 0.80% and the S&P BSE Small-Cap index rose 0.76%.

The market breadth was strong. On the BSE, 2,081 shares rose, and 1,376 shares fell. A total of 131 shares were unchanged.

Buzzing Index:

The Nifty Financial Services index declined 0.47% to 19,186.80. The index rose 1.72% in past three trading sessions.

Shriram Transport Finance Company (down 2.12%), Kotak Mahindra Bank (down 1.24%), ICICI Bank (down 1.09%), ICICI Prudential Life Insurance Company (down 1.07%), Housing Development Finance Corporation (down 0.71%), HDFC Bank (down 0.65%), Bajaj Finance (down 0.6%), ICICI Lombard General Insurance Company (down 0.47%), State Bank of India (down 0.39%) and SBI Life Insurance Company (down 0.33%) declined.

On the other hand, Power Finance Corporation (up 5.5%) ,REC (up 4.31%) and Indian Energy Exchange (up 2.21%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose to 7.296 as compared with 7.255 at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 81.54, compared with its close of 81.70 during the previous trading session.

MCX Gold futures for 5 December 2022 settlement slipped 0.45% to Rs 52,433.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was almost flat at 105.83.

The United States 10-year bond yield lost 0.75% to 3.681.

In the commodities market, Brent crude for January 2023 settlement rose 66 cents or 0.77% to $86.07 a barrel.

Stocks in Spotlight:

Allcargo Logistics rose 0.15%. The company said that its wholly owned subsidiary Allcargo Belgium N.V. has entered into share purchase agreement with NBG Logistik Beteiligungs- und Beratungsges. mbH to acquire 75% stake in Fair Trade GmbH Schiffahrt, Handel und Logistik.

Hariom Pipe Industries surged 10.41% after the company said that it has completed the setting up of 15 ton electric melting furnace and its commercial production will commence from today. This set up will increase the company's production of MS billets from the current 95,832 metric tonnes per annum (MTPA) to 1,04,232 MTPA.

Castrol India (CIL) added 0.78% after the company announced collaboration with ki Mobility Solutions to strengthen Indian automotive aftermarket ecosystem. The lubricant maker has announced a collaboration to leverage each other's strengths and expand the country's automotive aftermarket ecosystem via 'myTVS', KMS's digitally integrated multi-brand service platform for two and four wheelers.

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