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The domestic equity barometers continued to extend gains in mid-afternoon trade. The Nifty climbed above the 19,700 level. Oil & gas shares gained after declining in the past trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 603.24 points or 0.92% to 66,111.56. The Nifty 50 index added 198.70 points or 1.02% to 19,722.25. In the broader market, the S&P BSE Mid-Cap index rose 1.59% while the S&P BSE Small-Cap index gained 0.79%. The market breadth was strong. On the BSE, 2,386 shares rose, and 1,181 shares fell. A total of 169 shares were unchanged. Numbers to track: The yield on India's 10-year benchmark federal paper fell 0.53% to 7.200 from its previous close of 7.238. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.08, compared with its close of 83.19 during the previous trading session. MCX Gold futures for 5 October 2023 settlement advanced 0.43% to Rs 57,373. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.46% to 105.74. The United States 10-year bond yield slipped 1.15% to 4.549. In the commodities market, Brent crude for November 2023 settlement lost 41 cents or 0.43% to $94.97 a barrel. Buzzing Index: The Nifty Oil & Gas index advanced 1.55% to 7,931.85. The index declined 0.86% in the past trading session. GAIL (India) (up 2.84%), Petronet LNG (up 2.83%), Hindustan Petroleum Corporation (up 2.32%), Gujarat Gas (up 1.89%), Oil & Natural Gas Corpn (up 1.84%), Oil India (up 1.66%), Mahanagar Gas (up 1.59%), Indraprastha Gas (up 1.43%), Castrol India (up 1.43%) and Reliance Industries (up 1.4%) edged higher. Stocks in Spotlight: 3M India rose 3.68% after the company announced that, effective retrospectively from 1 April 2023, the royalty payable to its parent entities will now reduce to 1.95% of total turnover from 2.4% of turnover earlier. The New India Assurance Company declined 0.64% after it received a show cause cum demand notice from the Directorate General of GST Intelligence, Pune Zonal Unit alleging a tax demand of Rs 2,379.13 crore. Sterling & Wilson Renewable Energy rallied 3.96% after the company received third order from NTPC Renewable Energy (NTPC REL) for EPC project in Gujarat. The total contract price would be Rs 1,535 crore including operation & maintenance for 3 years. Total orders from NTPC REL at approximately Rs 5,850 crore (inclusive of O&M and taxes). Powered by Capital Market - Live News
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