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Domestic equity indices were trading with minor gains in early trade. The Nifty traded above the 19,7500 level. Barring the Nifty Healthcare index, all the other sectoral indices on the NSE traded in the green.
The barometer index, the S&P BSE Sensex, was up 211.14 points or 0.32% to 66,476.70. The Nifty 50 index shed 63.25 points or 0.32% to 19,790.30.
In the broader market, the S&P BSE Mid-Cap index lost 0.53% while the S&P BSE Small-Cap index rose 0.65%.
The market breadth was strong. On the BSE, 2,032 shares rose and 693 shares fell. A total of 112 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 758.55 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 28.11 crore in the Indian equity market on 7 September, provisional data showed.
Stocks in Spotlight:
LTIMindtree rose 0.01%. The company has launched two industry solutions, AdSpark and Smart Service Operations, to accelerate the time-to-market for businesses on the Salesforce platform.
Ashok Leyland added 0.80%. The company unveiled the Electric Light Commercial Vehicles from Switch Mobility - the IeV Series. The IeV Series is India's first electric commercial vehicles in its category and aims to provide efficient and eco-friendly solutions for last mile transportation needs.
Sterlite Technologies jumped 2.40%. The company has partnered with TruVista, a 125-year-old provider of broadband services and applications, to drive the growth and enhancement of South Carolina's rural connectivity infrastructure.
Numbers to Watch:
The yield on India's 10-year benchmark federal paper fell 0.03% to 7.171 from its previous close of 7.173.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.16, compared with its close of 83.23 during the previous trading session.
MCX Gold futures for 5 October 2023 settlement gained 0.23% to Rs 59,131.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.16% to 104.89.
The United States 10-year bond yield declined 0.83% to 4.229.
In the commodities market, Brent crude for November 2023 settlement lost 52 cents or 0.58% to $89.40 a barrel.
Global Markets:
Asian stocks are trading lower on Friday as Japan released revised second quarter gross domestic product figures. Hong Kong cancelled the morning trading session due to a storm warning. Japan's economy grew 4.8% in the second quarter on a quarter-on-quarter annualized basis, a smaller growth than the 6% seen in the preliminary estimates.
Overnight in the U.S., the Nasdaq Composite fell for a fourth session Thursday as concerns resurfaced over the Federal Reserve's interest rate policy path, and whether policymakers will enact another hike this year.
The likelihood that inflation numbers are going to remain stubbornly high for a while could mean more interest rate increases, former St. Louis Federal Reserve President James Bullard reportedly said.
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