Benchmarks trade almost flat; Nifty above 17,200 mark

The equity benchmarks were hovering near the flat line in afternoon trade. The Nifty was trading above the 17,200 mark. Metal and media stocks were under pressure while pharma and healthcare stocks were in demand.

At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 15.08 points or 0.03% to 57,912.56. The Nifty 50 index rose 3.15 points or 0.02% to 17,236.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.11% while the S&P BSE Small-Cap index gained 0.50%.

The market breadth was strong. On the BSE, 2062 shares rose and 1235 shares fell. A total of 112 shares were unchanged.

Sun Pharmaceutical Industries (up 2.07%), IndusInd Bank (up 1.99%), Dr. Reddy's Laboratories (up 1.87%), Eicher Motors (up 1.44%) and Divi's Laboratories (up 1.41%) were major index gainers.

Coal India (down 1.34%), Grasim Industries (down 1.32%), ONGC (down 1.22%), Tata Steel (down 1.18%) and ITC (down 1.02%) were major index losers.

Buzzing Segment:

The Nifty Media index was down 1.12% at 2,196.55. The index rose 0.17% in the previous session.

DishTV India (down 3.85%), PVR (down 3.02%), Network18 Media & Investments (down 1.27%), INOX Leisure (down 0.83%), Zee Entertainment Enterprises (down 0.67%), Sun TV Network (down 0.51%), Saregama India (down 0.42%) and TV18 Broadcast (down 0.33%) declined.

COVID-19 Update:

In last 24 hours, India added 9,195 new COVID-19 cases taking India's active caseload to 77,002 patients. India has recorded 781 cases of the Omicron variant of coronavirus across 21 states and UTs so far out of which 241 people have recovered or migrated. India's active caseload currently stands at 77,002. Active cases account for less than 1% of total cases, currently at 0.22%; lowest since March 2020. Recovery rate currently stands at 98.40%; highest since March 2020.

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