Sensex, Nifty trim gains; metal shares advance

The Sensex and the Nifty trimmed gains in mid-afternoon trade as profit selling emerged at higher levels. The Nifty held above 11,900 mark.

At 14:21 IST, the barometer index, the S&P BSE Sensex, was up 271.80 points or 0.69% at 39,706.52. The Nifty 50 index was up 84.90 points or 0.72% at 11,929.

Broader market depicted strength. Among secondary barometers, the BSE Mid-Cap index was up 0.89%. The BSE Small-Cap index was up 1.46%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1732 shares rose and 764 shares fell. A total of 154 shares were unchanged.

In the foreign exchange market, the rupee reversed early gains against the dollar. The partially convertible rupee was hovering at 69.60, compared with its close of 69.53 during the previous trading session.

State-run GAIL (India) was up 2.54%. Net profit rose 9.92% to Rs 1122.23 crore on 21.60% increase in net sales to Rs 18763.87 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 27 May 2019.

The board of GAIL (India) recommended issuing one fully paid up shares for every one fully paid up share held, subject to the shareholders' approval (1:1).

State-run Bharat Heavy Electricals (Bhel) was up 1.45%. Net profit rose 49.3% to Rs 682.70 crore. Net sales was almost flat at Rs 9,836.50 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 27 May 2019.

Metal shares rose across the board. Tata Steel (up 5.63%), NMDC (up 4.70%), Hindustan Copper (up 3.93%), Steel Authority of India (up 3.78%), Jindal Steel & Power (up 3.63%), National Aluminium Company (up 2.81%), Hindalco Industries (up 2.22%), Vedanta (up 1.74%), Hindustan Zinc (up 0.53%) and JSW Steel (up 0.12%), edged higher.

Powered by Capital Market - Live News