Indices trade with significant gains; metal shares shine

The headline equity benchmarks traded with major gains in mid-afternoon trade. The Nifty scaled above the 24,200 level. Metal shares rallied after declining in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE, jumped added 651.48 points or 0.83% to 79,433.72. The Nifty 50 index advanced 208.40 points or 0.87% to 24,203.75.

In the broader market, the S&P BSE Mid-Cap index added 0.44% and the S&P BSE Small-Cap index rose 0.52%.

The market breadth was positive. On the BSE, 2,416 shares rose and 1,471 shares fell. A total of 126 shares were unchanged.

Buzzing Index:

The Nifty Metal index jumped 2.50% to 9,474.35. The index fell 1.60% in the past trading session.

JSW Steel (up 3.62%), Steel Authority of India (up 3.37%), Hindustan Zinc (up 3.36%), Hindalco Industries (up 3.17%) and Tata Steel (up 3.16%), NMDC (up 3.09%), Hindustan Copper (up 2.76%), Welspun Corp (up 2.37%), Vedanta (up 2.2%) and Jindal Steel & Power (up 1.98%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 1.72% to 6.914 as compared with previous close 6.909.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 84.1200, compared with its close of 84.1100 during the previous trading session.

MCX Gold futures for 5 Dec 2024 settlement added 0.04% to Rs 78,450.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.12% to 103.76.

The United States 10-year bond yield grew 0.09% to 4.310.

In the commodities market, Brent crude for Jan 2025 settlement gained 16 cents or 0.21% to $75.24 a barrel.

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