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Mid Session Commentary
You are here : Equity | News | Mid Session Commentary
Benchmarks trade with small gains; oil & gas shares advance
(14:21, 23 Feb 2021)

Key equity indices traded with small gains in mid-afternoon trade amid significant volatility. The Nifty was trading below the 14,750 mark. Oil & gas stocks edged higher.

At 14:20 IST, the barometer index, the S&P BSE Sensex, jumped 174.28 points or 0.35% to 49,918.60. The Nifty 50 index added 57.70 points or 0.39% to 14,733.40.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 1.13%. The S&P BSE Small-Cap index gained 0.89%.

Buyers outpaced sellers. On the BSE, 1688 shares rose and 1140 shares fell. A total of 176 shares were unchanged.

Numbers to Track:

The yield on 10-year benchmark federal paper fell to 6.161% as compared to its previous close of 6.202%.

In the foreign exchange market, the partially convertible rupee rose to 72.345, compared with its previous closing of 72.49.

MCX Gold futures for 5 April 2021 settlement shed 0.18% to Rs 46,816.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, gained 0.11% to 90.12.

In the commodities market, Brent crude for April 2021 settlement rose $1.10 cents to $66.34 a barrel. The contract gained 3.7% or $2.33 to settle at $65.24 a barrel in the previous session.

Buzzing Index:

The S&P BSE Oil & Gas index rose 2.74% to 15,593.50. The index declined by 2.8% in the past two sessions.

In the past one month, the BSE Oil & Gas index has advanced 7.39% while the benchmark Sensex has gained 2.07% during the same period.

ONGC (up 6.96%), BPCL (up 4.22%), GAIL (up 3.05%), Indian Oil (up 2.61%), HPCL (up 2.07%) and Gujarat State Petronet (up 1.87%) advanced while Indraprastha Gas (down 3.28%) and Castrol India (down 0.87%) declined.

Stocks in Spotlight:

IndiaMART InterMESH rose 3.06% to Rs 9086. The fund raise committee of the company's board approved allotment of 12,42,212 equity shares to eligible qualified institutional buyers at the issue price of Rs 8,615 per equity share, aggregating to Rs 1,070.16 crore.

Cochin Shipyard jumped 8.6% to Rs 383.55 after the PSU company announced that it has been declared as L1 bidder in the tender floated by the Indian Navy. The scope of order involves construction of six Next Generation Missile Vessels (NGMV) and the estimated total order value is around Rs 10,000 crore.

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