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Key indices were trading near the flat line in mid-afternoon trade. At 12:26 IST, the barometer index, the S&P BSE Sensex, was down 6.44 points or 0.01% at 43,350.23. The Nifty 50 index was flat at 12,691.25.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index was up 0.66% while the S&P BSE Small-Cap index was gained 0.96%.

The market breadth was positive. On the BSE, 1467 shares rose and 1113 shares fell. A total of 188 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,514.12 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,239.43 crore in the Indian equity market on 12 November, provisional data showed.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 5,26,78,681 with 12,92,228 deaths.

India reported 4,84,547 active cases of COVID-19 infection and 1,28,668 deaths while 81,15,580 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Economy:

India's industrial production saw 0.2% growth in September, rising for first time in seven months. According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 0.6% while output of mining and power segments grew at 1.4% and 4.9%, respectively. The IIP had contracted by 4.6% in September 2019.

India's Consumer Price Index (CPI) extended upward momentum and rose to 7.61% in the month of October. This is around six year high for the index. The CPI for the month of September was revised to 7.27% from 7.34%. The Consumer Food Price Index (CFPI) jumped to 11.07% in the month of October, up from 10.68% in September.

Buzzing Index:

The Nifty Realty index jumped 1.13% to 241.30, rising for sixth consecutive trading session.

The index has gained 7.46% in six days.

Indiabulls Real Estate (up 7.35%), Brigade Enterprises (up 5.08%), Phoenix Mills (up 3.31%), Sobha (up 3.12%), Sunteck Realty (up 1.17%) and Godrej Properties (up 0.69%) advanced.

Stocks in Spotlight:

Shoppers Stop rose 3.32% to Rs 188.25 after the company said its board approved the rights issue price at Rs 140 per share. The company's board at its meeting held on 13 November 2020 approved rights entitlement ratio at 17 rights equity shares for every 70 equity shares held by eligible shareholders as on the record date of 20 November 2020. The rights issue will open on 27 November 2020 and it will close on 11 December 2020. The rights issue price is at a 25.63% discount to the ruling market price.

Sterling and Wilson Solar tumbled 4.37% to Rs 216.40 after the company's consolidated net profit slumped 81% to Rs 15.09 crore in Q2 FY21 from Rs 79.41 crore in Q2 FY20. Net sales during the quarter increased by 12% year-on-year (YoY) to Rs 1336.63 crore in Q2 FY21. Total expense jumped by 16.6% YoY to Rs 1,358.42 crore in Q2 FY21 over Q2 FY20. Profit before tax in Q2 September 2020 stood at Rs 17.52 crore, down by 82.6% from Rs 100.85 crore in Q2 September 2019. Current tax outgo declined by 78.4% YoY to Rs 2.95 crore in Q2 FY21. The company reported order inflow of 1.4 GW amounting to Rs 5,696 crore from 1st April 2020 until 30th September 2020. i.e. 124% of restated FY20 order booking (after exclusion of non-contracted projects). The company has strong order backlog with unexecuted order value exceeding Rs 9,000 crore.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee edged higher to 74.585 compared with its previous closing 74.64.

The yield on 10-year benchmark federal paper fell to 5.888% compared with its closing of 5.903% in the previous trading session.

MCX Gold futures for 4 December 2020 settlement rose 0.05% to Rs 50,625.

In the commodities market, Brent crude for January 2021 settlement fell 42 cents to $43.11 a barrel. The contract fell 0.62% to settle at $43.53 in the previous trading sessions.

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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: Fri, November 13 2020. 14:24 IST
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