Last Updated : Aug 29 2024 | 2:52 PM IST
The headline equity benchmarks traded sideways in mid-afternoon trade. The Nifty traded below the 25,050 mark after hitting the days high of 25,174.55 in afternoon trade. Metal shares extended losses for the third consecutive trading session. Trading was volatile due to August F&O series expiry today.
At 13:30 IST, the barometer index, the S&P BSE Sensex added 12.22 points or 0.02% to 81,805.77. The Nifty 50 index lost 17.80 points or 0.07% to 25,034.55.
The Sensex and Nifty clocked an all-time high of 82,220.68 and 25,174.55, respectively in afternoon trade.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.82% and the S&P BSE Small-Cap index declined 1%.
The market breadth was weak. On the BSE, 1,232 shares rose and 2,679 shares fell. A total of 108 shares were unchanged.
Buzzing Index:
The Nifty Metal index fell 1.39% to 9,284.10. The index declined 2.17% in three consecutive trading sessions.
Hindustan Zinc (down 2.9%), Hindustan Copper (down 2.56%), National Aluminium Company (down 2.54%), NMDC (down 1.88%), Jindal Steel & Power (down 1.87%), Hindalco Industries (down 1.69%), JSW Steel (down 1.65%), Adani Enterprises (down 1.39%), Steel Authority of India (down 1.37%) and Tata Steel (down 1.35%) fell.
On the other hand, APL Apollo Tubes (up 1.45%), Ratnamani Metals & Tubes (up 0.88%) and Jindal Stainless (up 0.07%) edged higher.
Numbers to track:
The yield on India’s 10-year benchmark federal paper rose 0.14% to 6.985 as compared with previous close 6.975.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.8775, compared with its close of 83.9700 during the previous trading session.
MCX Gold futures for 5 September 2024 settlement rose 0.24% to Rs 71,500.
The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, was up 0.18% to 101.27.
The United States 10-year bond yield fell 0.52% to 3.823.
In the commodities market, Brent crude for October 2024 settlement lost 42 cents or 0.54% to $77.16 a barrel.
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First Published: Aug 29 2024 | 2:36 PM IST
https://www.business-standard.com/markets/capital-market-news/barometers-trade-sideways-metal-shares-lose-shine-124082900626_1.html
