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Nifty above 14,550; metal stocks shine

Capital Market 

Barometers pared losses in mid-afternoon trade. The Nifty was trading above 14,550 mark. Mounting COVID-19 cases continued in the country and a negative trend in Asian equities spoiled sentiment.

At 14:23 IST, the barometer index, the S&P BSE Sensex, tumbled 221.37 points or 0.45% at 48,460.92. The Nifty 50 index lost 44.7 points or 0.31% at 14,586.30.

In the broader market, the S&P BSE Mid-Cap index skid 0.19% while the S&P BSE Small-Cap index added 1.41%.

Buyers outpaced sellers.

On the BSE, 1,677 shares rose and 1,266 shares fell. A total of 187 shares were unchanged.

Buzzing Index:

The Nifty Metal index jumped 1.94% to 4,942.05 and was a top gainer on NSE Sectoral indices.

Steel Authority of India (up 5.9%), National Aluminium Company (up 4.56%), Tata Steel (up 1.68%), Hindalco Industries (up 1.08%), NMDC (up 0.93%) and Jindal Steel & Power (up 0.67%) were top gainers in metal space.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee rose to 74.09 compared with its previous closing of 74.0950.

The yield on 10-year benchmark federal paper fell to 6.21% as compared to its previous close of 6.030%.

MCX Gold futures for 4 June 2021 settlement rose 0.56% to Rs 47,000.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 91.205.

In the commodities market, Brent crude for June 2021 settlement fell cents to $66.66 a barrel. The contract increased by 1.91% to settle at $67.25 in the previous trading session.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 15,28,75,042 with 32,02,699 deaths. India reported 34,13,642 active cases of COVID-19 infection and 2,18,959 deaths while 1,62,93,003 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

India recorded more than 26 lakh new cases and nearly 23,800 deaths in the past seven days, although daily infection numbers registered a slight drop after hitting a peak of over 4 lakh on Friday, 30 April 2021. Meanwhile, Uttar Pradesh has extended the 'corona curfew' till 6 May 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: Mon, May 03 2021. 14:24 IST