Indices trade near flat with tiny losses

Equity indices traded near the flat line with tiny losses in mid afternoon trade. The Nifty traded above the 18,200 mark. Realty and IT stocks bucked weak market trend.

At 14:32 IST, the barometer index, the S&P BSE Sensex, fell 78.38 points or 0.13% at 61,156.01. The Nifty 50 index fell 17.45 points or 0.1% at 18,240.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.18% while the S&P BSE Small-Cap index added 0.53%.

Buyers outnumbered sellers. On the BSE, 2,039 shares rose and 1,348 shares fell. A total of 93 shares were unchanged.

Broader Market Gainers:

RBL Bank (up 4.51%), Prestige Estates Projects (up 3.45%), IRCTC (up 3.19%), ICICI Securities (up 3.06%) and Voltas (up 3%) were top gainers in Mid Cap space.

HFCL (up 8.2%), Jubilant Ingrevia (up 6.51%), Rossari Biotech (up 6.09%), Alok Industries (up 5.22%) and Granules India (up 5%) were top gainers in Small Cap space.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose to 6.577% as compared with 6.561% at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 74.2050, compared with its close of 73.9 during the previous trading session.

MCX Gold futures for 4 February 2022 settlement rose 0.54% to Rs 47,993.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.11% to 94.67.

In the commodities market, Brent crude for March 2022 settlement rose 48 cents or 0.57% to $84.95 a barrel.

Global Markets:

Most shares in Europe and Asia declined on Friday as the recent rally in U.S. stocks broke momentum with the Nasdaq snapping a three-day winning streak.

China released trade data on Friday, which showed that its dollar-denominated exports grew 29.9% compared to the past year, and its imports rose 30.1% in the same period.

Meanwhile, South Korea's central bank raised its benchmark rate by 25 basis points to 1.25%, the highest since March 2020 and back to the rate it was at before the pandemic.

On the macro front, the number of Americans filing new claims for unemployment benefits increased to an eight-week high in the first week of January amid raging COVID-19 infections. Initial claims for state unemployment benefits increased 23,000 to a seasonally adjusted 230,000 for the week ended January 8, the highest reading since mid-November.

In another report on Thursday, the Labor Department said the producer price index for final demand increased 0.2% last month. That was the smallest gain in the PPI since November 2020 and followed a 1% jump in November.

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