Sensex, Nifty hover near flat line

The main indices traded almost flat in mid afternoon trade. At 14:26 IST, the barometer index, the S&P BSE Sensex, rose 6.32 points or 0.01% to 60,439.56. The Nifty 50 index was up 0.75 points at 18,045.

In the broader market, the S&P BSE Mid-Cap index lost 0.26% while the S&P BSE Small-Cap index gained 0.3%.

Buyers outnumbered sellers. On the BSE, 1,782 shares rose and 1,467 shares fell. A total of 171 shares were unchanged.

Buzzing Index:

The Nifty Auto index rose 0.62% to 11,839.75. The index has rallied almost 4% in four days.

Mahindra & Mahindra (up 3.12%), TVS Motor Company (up 2.95%), Tata Motors (up 1.14%) and Bosch (up 0.93%), Eicher Motors Ltd (up 0.54%) and Balkrishna Industries (up 0.53%) were top gainers in automobile space.

Stocks in Spotlight:

Cadila Healthcare rose 0.78%. The drug company said that it has received final approval from the USFDA to market Glycopyrrolate injection, a generic version of US reference listed drug Robinul. Glycopyrrolate is used before surgery to decrease the volume of secretions from mouth, lungs and stomach. It can also be used either before or during surgery to maintain heart's normal beating rhythm. It is also used to counter the effects of some other medicines, which can slow heartbeat or produce excessive secretions when used during surgery. The drug will be manufactured at the group's injectables manufacturing facility at CHL-Jarod, near Vadodara (earlier known as Liva Pharmaceuticals).

Mishra Dhatu Nigam fell 1.69%. The company's consolidated net profit rose 4.4% to Rs 33.94 crore on a 13.7% increase in net sales to Rs 185.27 crore in Q2 FY22 over Q2 FY21. The company said it achieved a turnover of Rs 187.92 crore, registering a growth of 14.75% during the Q2 FY22 as against a turnover of Rs 163.77 crore recorded in the corresponding period of the previous year. The order book position of the company as on 1 October 2021 stood at Rs 1,369.89 crore.

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement rose 0.07% to 48,319.

The yield on India's 10-year benchmark federal paper rose to 6.319% from its previous close of 6.293%.

In the commodities market, Brent crude for January 2022 settlement rose 45 cents or 0.53% to $85.23 a barrel.

In the foreign exchange market, the partially convertible rupee fell to 74.36 from its previous closing of 74.05.

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