Benchmarks turn range bound; metal stocks bounce

Equity indices traded sideways with decent gains in mid afternoon trade. The Nifty traded firmly above the 15,800 mark. IT and pharma shares were under pressure.

At 14:29 IST, the barometer index, the S&P BSE Sensex, rose 312.55 points or 0.6% at 52,797.01. The Nifty 50 index gained 91.20 points or 0.58% at 15,813.40.

In the broader market, the S&P BSE Mid-Cap index added 0.16% while the S&P BSE Small-Cap index rose 0.77%.

Buyers outpaced sellers. On the BSE, 2,192 shares rose and 1,104 shares fell. A total of 166 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 18,37,88,043 with 39,77,121 deaths. India reported 4,82,071 active cases of COVID-19 infection and 4,02,728 deaths while 2,97,00,430 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

 

Buzzing Index:

The Nifty Metal index added 0.95% to 5,178.65. The index fell 3% in the past four session.

Vedanta (up 4.1%), Hindalco Industries (up 3.36%), Tata Steel (up 1.75%), Jindal Steel & Power (up 1.55%) and Steel Authority of India (up 1.33%) and Coal India (up 1.19%) climbed.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee rose to 74.37 compared with its previous closing of 74.7425.

MCX Gold futures for 5 August 2021 settlement rose 0.12% to Rs 47,342.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.24% to 92.192.

The yield on 10-year benchmark federal paper rose to 6.086% from its previous close of 6.065%.

In the commodities market, Brent crude for September 2021 settlement rose 15 cents to $76.32 a barrel. The contract added 1.41% in the previous trading session to settle at $76.17.

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