Market at record high, Nifty near 18,700 level

The domestic equity barometers marched higher and hit the day's high in the mid-afternoon trade. The Nifty traded above the 18,650 mark. Metal, realty and auto stocks advanced while PSU bank, pharma and healthcare shares corrected.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 180.93 points or 0.29% to 62,862.77. The Nifty 50 index gained 74.55 points or 0.40% to 18,692.60.

The two benchmarks hit all-time highs in mid-afternoon trade today at 18,692.85 for Nifty 50 index and 62,909.64 for Sensex.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.51% while the S&P BSE Small-Cap index added 0.45%.

The market breadth was positive. On the BSE, 1,983 shares rose and 1,440 shares fell. A total of 130 shares were unchanged.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell to 7.287 as compared with 7.279 at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 81.45, compared with its close of 81.72 during the previous trading session.

MCX Gold futures for 5 December 2022 settlement gained 0.39% to Rs 52,510.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.18% to 106.63.

The United States 10-year bond yield fell 0.75% to 3.720.

In the commodities market, Brent crude for January 2023 settlement rose 72 cents or 0.87% to $83.75 a barrel.

Buzzing Index:

The Nifty PSU Bank index fell 1.45% to 3,996.60. The index declined 1.49% in two trading sessions.

Canara Bank (down 2.53%), UCO Bank (down 2.47%), Central Bank of India (down 2.39%), Punjab & Sind Bank (down 2.35%), Punjab National Bank (down 2%), Bank of India (down 1.85%), Union Bank of India (down 1.7%), Bank of Baroda (down 1.52%), Indian Overseas Bank (down 1.34%) and State Bank of India (down 1.27%) slipped.

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