Sensex, Nifty slip into the red
Key indices gave up their gains and slipped into negative territory by mid-afternoon. The Nifty was hovering at the 18,000 mark. Stocks of consumer staples, autos, metals and consumer durables were in demand. In contrast, banking and financial stocks corrected after a dramatic rally in the previous session.
As of 2:30 p.m. IST, the S&P BSE Sensex fell 286.35 points or 0.47% to 60,325.19.
The Nifty 50 index lost 35.6 points or 0.2% to 18,017.15.
The whole market has recovered. The S&P BSE Mid-Cap Index rose 1.31% while the S&P BSE Small-Cap Index gained 1.59%.
Market breadth, indicating the overall health of the market, was strong. On the BSE, 2403 shares rose and 949 shares fell. A total of 121 stocks remained unchanged.
Broader market gains:
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 the main gainers in the 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 the main gainers in the small cap space.
Numbers to follow:
The yield on the benchmark 10-year federal paper remained unchanged at 6.898%.
On the foreign exchange market, the rupee was higher against the dollar. The partially convertible rupee was hovering at 75.335, down from its close of 75.53 in the previous trading session.
MCX Gold futures for the April 5, 2022 settlement fell 0.11% to Rs 51,474.
The U.S. dollar index (DXY), which tracks the value of the greenback against a basket of currencies, rose 0.01% to 98.98.
In the commodities market, Brent crude for the May 2022 settlement rose 64 cents or 0.6% to $108.17 a barrel.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)