Sensex, Nifty firm up once again

Key equity barometers firmed up once again in mid-afternoon trade. The Nifty continued to trade below 20 days simple daily moving average (DMA) placed at 12,139.73. Gains were supported by positive global shares.

At 14:21 IST, the S&P BSE Sensex, gained 154.09 points or 0.38% and traded at 40,830.72. The Nifty 50 index was up 47.60 points or 0.40% at 12,040.65.

In the broader market, the S&P BSE Mid-Cap index was up 0.61% while the S&P BSE Small-Cap index was up 0.74%.

The market breadth was strong. On the BSE, 1,448 shares rose and 926 shares fell. A total of 162 shares were unchanged. In Nifty 50 index, 35 stocks advanced while 15 stocks declined.

Investors kept an eye on the geopolitical developments following Washington's targeted killing of Iran's top military commander Qasem Soleimani in Iraq. After falling for the past two sessions amid a flight to safety, the markets around the globe took a sigh of relief and resume uptrend as Monday passed with no new escalation in tensions.

Stocks in Spotlight:

G.M.Breweries fell 5.90% to Rs 384.40. On standalone basis, the company reported a 16.34% decline in net profit to Rs 13.98 crore in Q3 December 2019 over Q3 December 2018. Total revenue from operations declined 3.89% to Rs 119.74 crore in Q3 December 2019 as against Rs 124.58 crore in Q3 December 2018.

Bandhan Bank slipped 0.28% to Rs 496.30. CRISIL assigned a rating of 'CRISIL Al+' on the certificate of deposits worth Rs 6000 crore while CARE ratings reaffirmed its rating of [CARE]AA- (Stable) on the subordinated tier II non- convertible debentures worth Rs 160 crore of the Bank.

Jindal Steel & Power (JSPL) advanced 0.24% to Rs 167.20 after the firm said its steel production stood at 1.61 million tonnes (MT) in the December quarter of the ongoing fiscal year. "JSPL has witnessed the highest ever quarterly production of 1.61 million tonnes of steel in Q3 FY19-20," the company said in a filing to the BSE.

Numbers to Track:

MCX Gold futures for 5 February 2019 settlement advanced 0.01% to Rs 40,475.

The yield on 10-year benchmark federal paper fell to 6.55% at 14:14 IST compared with 6.56% in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was trading at 71.80, compared with its previous closing low of 71.9350.

In the commodities market, Brent crude for March 2020 settlement was down 51 cents a barrel, or 2.18%, at $70.10 per barrel. The contract rose 31 cents or 0.45% to settle at $68.91 a barrel on Friday, 3 January 2020.

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