Market Commentary - Mid-Session
Sensex adds 56 pts; PSU bank shares slide As on : 11-Dec-24  14:32

The key equity benchmarks continued trade with small gains in the mid-afternoon trade. The Nifty traded above the 24,600 level. PSU bank shares declined after advancing in the previous trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex, gained 56.09 points or 0.07% to 81,566.14. The Nifty 50 index added 37.20 points or 0.15% to 24,647.25.

In the broader market, the S&P BSE Mid-Cap index added 0.14% and the S&P BSE Small-Cap index rose 0.36%.

The market breadth was positive. On the BSE, 2,159 shares rose and 1,792 shares fell. A total of 123 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index fell 0.72% to 7,100.85. The index added 0.65% in the previous trading session.

Indian Bank (down 1.86%), Punjab National Bank (down 1.3%), Bank of India (down 0.68%), State Bank of India (down 0.64%), Canara Bank (down 0.62%), Union Bank of India (down 0.44%), UCO Bank (down 0.37%), Bank of Maharashtra (down 0.3%), Bank of Baroda (down 0.25%) declined.

On the other hand, Indian Overseas Bank (up 1.74%) ,Punjab & Sind Bank (up 0.43%) and the Central Bank of India (up 0.25%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 1.76% to 6.823 as compared with the previous close of 6.826.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 84.8600, compared with its close of 84.8550 during the previous trading session.

MCX Gold futures for the 5 December 2024 settlement rose 0.20% to Rs 78,491.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.09% to 106.50.

The United States 10-year bond yield rose 0.19% to 4.231.

In the commodities market, Brent crude for the November 2024 settlement added 18 cents or 0.25% to $72.37 a barrel.

Stocks in Spotlight:

Aurionpro Solutions jumped 7.52% after the company secured a deal with a major Saudi bank to modernize its corporate banking tech using iCashpro+.

PNC Infratech jumped 10.06% after its subsidiary, Hathras Highways, received a provisional completion certificate for a Uttar Pradesh-based national highway project awarded by NHAI on HAM dated 7 December 2023.

Inox Green Energy Services gains 0.24%. The company announced its foray into solar manufacturing through Inox Solar, a privately held entity by the promoters.

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