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Barometers trade flat; auto stocks in demand

Capital Market 

The benchmark indices were trading near the flat line in mid-afternoon trade. Auto stocks edged higher. The Nifty was trading below the 14,700 mark.

At 14:21 IST, the barometer index, the S&P BSE Sensex, was up 16.39 points or 0.03% to 49,175.71. The Nifty 50 index added 25.10 points or 0.17% to 14,662.90.

In broader market, the S&P BSE Mid-Cap index gained 0.88% while the S&P BSE Small-Cap index rose 0.65%.

The market breadth was weak. On the BSE, 1605 shares rose and 1187 shares fell. A total of 192 shares were unchanged.

Numbers To Track:

In the foreign exchange market, the partially convertible rupee fell to 73.36 compared with its previous closing of 73.30.

The yield on 10-year benchmark federal paper fell to 6.120% as compared to its previous close of 6.123%.

MCX Gold futures for 5 February 2021 settlement added 0.44% to Rs 45,547.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, shed 0.27% to 92.77.

In the commodities market, Brent crude for June 2021 settlement rose 93 cents to $63.88 a barrel. The contract fell 4.18% or $2.71 to settle at $62.15 in the previous trading session.

Buzzing Index:

The Nifty Auto index rose 0.21% to 9,788.75. The index had declined 2.54% yesterday.

Tata Motors (up 1.02%), Mahindra & Mahindra (up 0.85%) and Bajaj Auto (up 0.75%) advanced.

Meanwhile, TVS Motor Company (down 2.28%), Ashok Leyland (down 0.62%), Eicher Motors (down 0.49%), Maruti Suzuki (down 0.16%) and Bharat Forge (down 0.15%) declined.

Stocks in Spotlight:

Container Corporation of India (CONCOR) shed 0.89% to Rs 573.55. The company said that total throughput increased by 12.50% to 10,58,931 twenty-foot equivalent units (TEUs) in Q4 FY21 from 9,41,270 TEUs in Q4 FY20.

CONCOR's total throughput, however, declined by 2.79% to 36,43,330 TEUs in the period ended in March 2021 compared with 37,47,758 TEUs in the period ended in March 2020.

Mukand slipped 0.06% to Rs 84.05. With reference to recent price movement, Mukand on Monday (5 April) clarified that in the recent past, there have been several internal or external positive developments concerning the company. The company has reduced its debt and other interest-bearing liabilities by more than Rs 975 crore via a promoter backed line of credit; it has completed the first tranche of the sale of 30% stake in Mukand Sumi Special Steel, joint venture company, for Rs 713.61 crore; and it has also transferred approximately 55 acres of the company's surplus leasehold land at Thane for a consideration of Rs 801.51 crore.

Satia Industries rose 0.72% to Rs 83.50. the company has received an order from Rajasthan State textbook board for the supply of 8900 MT paper at a gross realization of Rs 67,000 per ton. The order is worth Rs 59.63 crore and will be executed by or before the end of Q1FY22 i.e 30 June 2021.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, April 06 2021. 14:21 IST