Key equity indices continued trading in a narrow range in mid-afternoon trade. The Nifty hovered around the crucial 12,000 mark. At 14:25 IST, the barometer index, the S&P BSE Sensex was up 1.9 points or 0.01% at 40,653.55. The Nifty 50 index fell 4.9 points or 0.04% at 11,991.40.
In the broader market, the S&P BSE Mid-Cap index was down 0.35%. The S&P BSE Small-Cap index fell 0.24%.
The market breadth was negative. On the BSE, 1,069 shares rose and 1,359 shares fell. A total of 202 shares were unchanged. In Nifty 50 index, 16 stocks advanced while 34 stocks declined.
Economy:
The Cabinet Committee on Economic Affairs yesterday, 20 November 2019 accorded 'In-principle' approval for strategic disinvestment in select CPSEs including Bharat Petroleum Corporation (BPCL), Shipping Corporation of India (SCI), Container Corporation of India, Tehri Hydro Development Corporation India and North Eastern Electric Power Corporation.
The Cabinet also approved the proposal for Mitigating financial stress being faced by the Telecom Services Sector. Department of Telecommunication will give an option to the Telecom Service Providers (TSPs) to defer payment of the spectrum auction installments due for 2020-21 & 2021-22, either for one or both years. The decision for deferring spectrum payment installments for two years will be implemented within a fortnight.
Stocks in Spotlight:
Siemens declined for a second day in a row after announcing muted Q4 2019 earnings on Tuesday, 19 November 2019. Siemens was down 0.34% at Rs 1538.4. On a consolidated basis, Siemens reported 18.3% increase in net profit to Rs 333.90 crore on a 5.7% rise in net sales to Rs 4037 crore in Q4 September 2019 over Q4 September 2018.
Cadila Healthcare was up 1.99% to Rs 254 after Zydus Cadila has received the final approval from the USFDA to market lsosorbide Dinitrate tablets. The drug is used to prevent attacks of chest pain and it dilates blood vessels, making it easier for blood to flow through them and easier for the heart to pump. lsosorbide Dinitrate Tablets will be manufactured at the group's formulations manufacturing facility at Baddi.
V-Mart announced that it has opened a new store in the state of Jammu & Kashmir. With this total number of stores of V-Mart increased to 254 stores in 189 cities across 19 states and total tally of stores in Jammu & Kashmir to 8. Shares of V-Mart Retail were trading 2.78% lower at Rs 1675.80.
Numbers to track:
The yield on 10-year benchmark federal paper rose to 6.479% at 14:18 IST compared with 6.458% in the previous trading session.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 71.77, compared with its close of 71.815 during the previous trading session.
In the commodities market, Brent crude for January 2020 settlement was down 31 cents at $62.09 a barrel. The contract rose 2.45% to settle at $62.40 a barrel during the previous trading session.
MCX Gold futures for 5 December 2019 settlement fell 0.03% to Rs 38,142.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
