Sensex, Nifty trim losses; breadth remains positive

The key indices came off the day's low and traded with modest losses in mid afternoon trade. At 14:29 IST, the barometer index, the S&P BSE Sensex, was down 195.94 points or 0.34% at 58,083.54. The Nifty 50 index lost 59.10 points or 0.34% at 17,303.90.

In the broader market, the BSE Mid Cap index rose 0.33% while BSE Small Cap index gained 0.38%, outperforming the main stock indices.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1629 shares rose and 1494 shares fell. A total of 153 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 221,894,939 with 4,585,792 deaths. India reported 391,256 active cases of COVID-19 infection and 441,411 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

India's Covid-19 vaccination coverage has surpassed the cumulative figure of 70.75 crore as per provisional reports till 7 am today. Consequently, India's recovery rate stands at 97.48%.

Buzzing Index:

The Nifty Pharmaceutical index slipped 0.41% to 14,328.20. The index has declined 1% in three sessions.

Divi's Laboratories (down 2.31%), Alkem Laboratories (down 1.88%), Lupin (down 1.3%) and Aurobindo Pharma (down 0.6%) were top losers in pharmaceutical space.

Stocks in Spotlight:

Sun Pharmaceutical Industries rose 0.58%. Sun Pharma Consumer Healthcare, a division of Sun Pharmaceutical Industries, announced its foray into the nutrition bar segment in India with the launch of RevitalNXT. Revital NXT is India's first nutrition bar with natural ginseng, 16 vitamins & minerals and triple blend protein. The nutrition bar has been launched on Amazon and it will also be made available on other e-commerce platforms.

Godawari Power & Ispat hit an upper circuit of 5% at Rs 1,097.05 after the company said that its board will consider a stock split and bonus issue of shares on Tuesday, 14 September 2021.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee fell to 73.6125 from its previous closing of 73.4275.

MCX Gold futures for 5 October 2021 settlement rose 0.36% to Rs 47,106.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.2% at 92.70.

In the commodities market, Brent crude for October 2021 settlement rose 16 cents or 0.22% to $71.85 a barrel.

The yield on 10-year benchmark federal paper fell to 6.189% from its previous close of 6.195%.

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