The benchmark indices traded near the flat line with small losses in mid-morning trade. The Nifty traded below the 20,200 level. Auto shares rallied for the fourth day in a row.
The barometer index, the S&P BSE Sensex, was down 55.88 points or 0.08% to 67,782.75. The Nifty 50 index lost 4.50 points or 0.02% to 20,187.85.
In the broader market, the S&P BSE Mid-Cap index shed 0.03% while the S&P BSE Small-Cap index gained 0.02%.
The market breadth was positive. On the BSE, 1,873 shares rose and 1,680 shares fell. A total of 210 shares were unchanged.
Buzzing Index:
The Nifty Auto index rose 0.90% to 16,574.05. The index rallied 3.61% in three trading sessions.
Mahindra & Mahindra (up 3.33%), Bajaj Auto (up 1.94%), Hero MotoCorp (up 1.56%), Tube Investments of India (up 0.93%), Tata Motors (up 0.87%), TVS Motor Company Ltd (up 0.83%), Samvardhana Motherson International (up 0.61%), Maruti Suzuki India (up 0.57%) advanced.
On the other hand, Sona BLW Precision Forgings (down 1.72%), Balkrishna Industries (down 0.93%) and Bharat Forge (down 0.5%) declined.
New Listing:
Shares of Jupiter Life Line Hospitals were currently trading at Rs 1,054.65 at 10:45 IST on the BSE, representing a premium of 43.49% as compared with the issue price of Rs 735.
The scrip was listed at Rs 960, exhibiting a premium of 30.61% to the issue price.
So far, the stock has hit a high of 1,063.95 and a low of 960. On the BSE, over 5.31lakh shares of the company were traded in the counter so far.
Buzzing Index:
The Nifty PSU Bank index rallied 3.08% to 5,201.75. The index jumped 9.78% in four trading sessions.
Indian Overseas Bank (up 12.41%), UCO Bank (up 8.79%), Punjab & Sind Bank (up 8.4%), Central Bank of India (up 6.16%), Bank of Maharashtra (up 5.88%), Bank of India (up 4.78%), Punjab National Bank (up 4.38%), Indian Bank (up 4.02%), Bank of Baroda (up 2.09%) and Union Bank of India (up 1.66%) edged higher.
Stocks in Spotlight:
Capacite lnfraprojects advanced 3.79% to Rs 223 after it received repeat order from Raymond for project - Codename Xception at Thane worth Rs 281 crore.
Indian Oil Corporation (IOCL) rose 1.07% to Rs 92.94 after the company's board has approved additional investment of Rs 903.52 crore in its joint venture.
VA Tech Wabag advanced 2.63% to Rs 476 after the company announced that it has entered into a Memorandum of Understanding (MoU) with Al Jomaih Energy and Water (AEW), a leading developer of energy and water projects in the Middle East.
Global Markets:
Asian stocks traded mixed on Monday as investors look ahead to a week of central bank decisions. The U.S. Federal Reserve's decision is expected early Thursday in Asia, while Australia's central bank will release its minutes for its 5 September 2023 policy meeting on Tuesday.
On Friday, the Bank of Japan will conclude its monetary policy meeting and traders will be looking for clarity on when the BOJ will start to shift its ultra-easy monetary policy. Elsewhere, the People's Bank of China is also expected to release its loan prime rate decisions on Friday.
US stocks fell Friday as investors wrapped up a volatile week ahead of the Federal Reserve's policy meeting.
On the economic front, the University of Michigan's consumer sentiment survey showed one-year inflation expectations dropped to 3.1% in September, tied for the lowest since January 2021. Also, the five-year outlook fell to 2.7%, matching its lowest since December 2020.
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