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Sensex, Nifty trade in range

Capital Market 

The Sensex and the Nifty continued trading in a narrow band near flat line in mid-afternoon trade. The Nifty 50 index traded a tad below 12,350 level. At 14:25 IST, the S&P BSE Sensex, was down 20.87 points or 0.05% at 41,838.82. The Nifty 50 index was down 2.30 points or 0.02% at 12,327.25.

In the broader market, the S&P BSE Mid-Cap index gained 0.72% while the S&P BSE Small-Cap index was up 0.56%. Sentiment was upbeat amid positive global cues.

The market breadth was positive. On the BSE, 1383 shares rose and 1023 shares fell. A total of 141 shares were unchanged. In Nifty 50 index, 33 stocks advanced while 17 stocks declined.

Stocks in Spotlight:

TV18 Broadcast surged 14.89% to Rs 28.55. The company's consolidated net profit fell 8.96% to Rs 122 crore on a 3.39% fall in revenue from operations to Rs 1425 in Q3 December 2019 over Q3 December 2018.

Indusind Bank fell 1.30% to Rs 1520.40. On standalone basis, the bank posted a net profit of Rs 1300.2 crore in Q3 December 2019 as against a net profit of Rs 985.03 crore, recording a rise of 32%. Net interest income which is the difference between interest earned and interest expended, jumped 34.35% YoY and stood at Rs 3074 crore in the December 2019 quarter.

Numbers to Track:

The yield on 10-year benchmark federal paper rose to 6.651% at 14:17 IST compared with 6.592% in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was trading at 70.88, compared with its previous closing low of 70.8650.

In the commodities market, Brent crude for March 2020 settlement was down 18 cents a barrel at $64.02 per barrel. The contract declined 78 cents or 1.2% to settle at $64.20 a barrel in Friday's session.

MCX Gold futures for 5 February 2019 settlement declined 0.24% to Rs 39,450.

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

First Published: Tue, January 14 2020. 14:26 IST