Capital Market Last Updated at July 19, 2022 14:50 IST
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At 14:28 IST, the barometer index, the S&P BSE Sensex, was up 157.22 points or 0.29% to 54,678.37. The Nifty 50 index added 44.75 points or 0.27% to 16,323.25.
The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.47% while the S&P BSE Small-Cap index added 0.70%.
The market breadth was positive. On the BSE, 1,915 shares rose and 1,328 shares fell. A total of 162 shares were unchanged.
Numbers to Track:
The yield on India’s 10-year benchmark federal paper rose to 7.456 as compared with 7.437 at close in the previous trading session.
In the foreign exchange market, the rupee was higher against the dollar.
The partially convertible rupee was hovering at 79.9125, compared with its close of 79.98 during the previous trading session.
The Indian rupee slumped for the seventh consecutive session, plunging to a record low, breaching the key psychological level of 80 against the US dollar on Tuesday after closing at a new low in the previous session.
MCX Gold futures for 5 August 2022 settlement fell 0.05% to Rs 50,334.
The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, increased 0.62 % to 106.70.
In the commodities market, Brent crude for September 2022 settlement rose $1.84 or 1.86% at $100.94 a barrel.
Buzzing Index:
The Nifty IT index fell 0.40% to 27,214.90. The index rose 3.16% in the past trading session.
Among the components of the Nifty IT index, HCL Technologies (down 1.24%), Coforge (down 1.09%), Infosys (down 0.95%), Tech Mahindra (down 0.6%), Mphasis (down 0.46%), Wipro (down 0.19%), L&T Technology Services (down 0.06%) were the top losers.
On the other hand, Mindtree (up 1.87%) ,Larsen & Toubro Infotech (up 1.71%) and Tata Consultancy Services (up 0.08%) edged higher.
Stocks in Spotlight:
Sterlite Technologies (STL) rose 1.41% after the company secured Rs 250 crore deal for building Indian telecom operator’s optical network. Under this arrangement, STL seeks to fulfil the telecom operator’s requirement for setting up a high-performance, modern communication network in India. STL is already a network modernisation partner for the telecom player and with this deal the company further strengthens its relationship with the telco.
DCM Shriram fell 1.04%. On a consolidated basis, DCM Shriram reported 61.24% jump in net profit to Rs 253.96 crore on 46% increase in net revenue from operations to Rs 2,851 crore in Q1 FY23 over Q1 FY22. Profit before tax surged 79.25% to Rs 386.65 crore in Q1 FY23 as against Rs 215.70 crore in Q1 FY22. Total expense rose 44.42% to Rs 2,613.25 crore and cost of materials consumed was up 41.55% to Rs 767.08 crore in Q1 FY23 over Q1 FY22.
Mindtree advanced 1.90% after the IT company announced that it has partnered with Rubrik, the zero trust data security company, to launch a unified cyber-recovery platform named ‘MINDTREE VAULT’. Rubrik is a cloud data management company based in Palo Alto, California, United States founded in December 2013.
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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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