Indices turn rangebound; breadth positive

Key equity market barometers traded in a narrow range with small losses in mid-afternoon trade. At 14:24 IST, the barometer index, the S&P BSE Sensex, was down 70.32 points or 0.17% at 41,504.82. The Nifty 50 index was down 10.50 points or 0.09% at 12,235.30.

The broader market traded on a firm note. The S&P BSE Mid-Cap index rose 0.29% while The S&P BSE Small-Cap index advanced 0.61%

The market breadth favored the buyers. On the BSE, 1295 shares rose and 1166 shares fell. A total of 178 shares were unchanged. In Nifty 50 index, 30 stocks advanced while 20 stocks declined.

Numbers to Track:

The yield on 10-year benchmark federal paper rose to 6.505% at 14:20 IST compared with 6.5% in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was trading at 71.3750, compared with its previous closing low of 71.3500.

In the commodities market, Brent crude for February 2020 settlement was up 9 cents at $68.25 a barrel. The contract rose 24 cents 0.35% to settle at $68.16 a barrel during the previous trading session.

MCX Gold futures for 5 February 2019 settlement fell 0.22% to Rs 38,994.

Stocks in Spotlight:

Cadila Healthcare slipped 0.80% to Rs 253.95. The stock has corrected by 4.60% in five sessions from its close of Rs 266.20 recorded on 20 December 2019.

Punjab & Sind Bank slumped 5.74% to Rs 21.35. CARE Ratings reaffirmed its rating on various debt instruments of the company but revised its rating outlook to negative from stable.

Indo-National slipped 0.14% to Rs 530.35. The company announced entering into exclusive distributorship agreement entered with DORCO Co., for the distribution of Dorco products such as Razor and Razor blade products in India

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