Indices trade with small losses; Metal shares rally for 2nd day

The domestic equity benchmarks traded with near flat line with negative bias in mid-afternoon trade. The Nifty traded below the 21,550 mark. Metal shares advanced for the second consecutive trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 56.30 points or 0.08% to 71,329.91. The Nifty 50 index lost 21.85 points or 0.10% to 21,523.

In the broader market, the S&P BSE Mid-Cap index fell 0.21% and the S&P BSE Small-Cap index shed 0.01%.

The market breadth was positive. On the BSE, 1,925 shares rose and 1,864 shares fell. A total of 126 shares were unchanged.

Buzzing Index:

The Nifty Metal index rose 0.65% to 7,859.20. The index gained 1.45% in the two trading sessions.

Adani Enterprises (up 2.17%), Welspun Corp (up 1.55%), APL Apollo Tubes (up 1.16%), JSW Steel (up 0.6%), Tata Steel (up 0.45%), Jindal Steel & Power (up 0.33%), Ratnamani Metals & Tubes (up 0.31%), Hindalco Industries (up 0.13%), Vedanta (up 0.04%) advanced.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper shed 0.09% to 7.180 as compared with previous close 7.189.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.1350, compared with its close of 83.1300 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement rose 0.14% to Rs 62,265.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.19% to 102.48.

The United States 10-year bond yield shed 0.01% to 3.999.

In the commodities market, Brent crude for March 2024 settlement added 0.10 cents or 0.13% to $77.69 a barrel.

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