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Market breadth turns positive

Capital Market 

Key benchmark indices were trading in a narrow band with small gains. The Nifty regained 12,000 level. Sharp gains were capped due to weak global cues. Banking stocks were in demand ahead RBI's monetary policy outcome tomorrow.

At 10:34 IST, the barometer index, the S&P BSE Sensex, was up 42.31 points or 0.1% at 40,717.76. The Nifty 50 index was up 14.5 points or 0.12% at 12,008.70.

In the broader market, the S&P BSE Mid-Cap index was up 0.26%. The S&P BSE Small-Cap index was up 0.06%.

The market breadth turned positive. On the BSE, 908 shares rose and 821 shares fell. A total of 133 shares were unchanged. In Nifty 50 index, 27 stocks advanced while 23 stocks declined.

Buzzing Index:

The Nifty Bank index snapped three day losing streak ahead of RBI's monetary policy outcome on Thursday. The Nifty Bank index was trading 0.83% higher at 31,875.70.

Among private sector banks, ICICI Bank (up 2.64%), Axis Bank (up 1.53%), IDFC First Bank (up 1.44%), Federal Bank (up 1.1%) and RBL Bank (up 0.72%) were top gainers.

Oriental Bank of Commerce (up 3.71%), Union Bank of India (up 2.28%), Canara Bank (up 1.96%), Bank of Baroda (up 1.53%), Bank of India (up 1.12%), Syndicate Bank (up 0.89%) and Punjab National Bank (up 0.79%) were top gainers in PSU bank segment.

Stocks in Spotlight:

Shares of CSB Bank were trading at Rs 300.35 at 10:14 IST on BSE, premium of 54.03% over the initial public offer price of Rs 195. The stock debuted at Rs 275, premium of 41.03% to the initial public offer (IPO) price. So far the stock hit a high of Rs 304 and low of Rs 275.

Eris Lifesciences gained 1.88% to Rs 442.05 after the company acquired trademark 'Zomelis' from Novartis AG. The trademark acquisition is done for $13 Million. Zomelis is used to treat type 2 diabetes.

Nestle India declared third interim for 2019 of Rs 55 per equity share. The record date for the dividend is 11 December 2019 while the dividend will be paid on 20 December 2019.

Shares of Nestle India were trading 0.01% lower at Rs 14336.20.

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

First Published: Wed, December 04 2019. 10:36 IST
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