Barometers trade higher; PSU Bank shares snap 2-day rally
PSU Bank shares declined after advancing in the past two trading sessions.
At 13:22 IST, the S&P BSE Sensex surged 1,377.87 points or 1.89% to 74,159.76. The Nifty 50 index jumped 390.40 points or 1.73% to 23,016.75.
In the broader market, the BSE 150 Midcap Index shed 0.20% and the BSE 250 Smallcap Index declined 0.75%.
The market breadth was negative. On the BSE, 1,751 shares rose and 2,509 shares fell. A total of 241 shares were unchanged.
Buzzing Index:
The Nifty PSU Bank index declined 1.25% to 8,065.65. The index rose 1.7% in the past two trading sessions.
Canara Bank (down 5.46%), Bank of Maharashtra (down 3.33%), Punjab National Bank (down 2.2%), Bank of India (down 2.14%), Union Bank of India (down 1.4%), Indian Bank (down 0.99%), Indian Overseas Bank (down 0.89%), Punjab & Sind Bank (down 0.88%), Central Bank of India (down 0.61%) and UCO Bank (down 0.42%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper fell 0.39% to 7.370.
In the foreign exchange market, the rupee rose against the dollar. The partially convertible rupee was hovering at 94.9625 compared with its close of 95.1725 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rallied 1.31% to Rs 1,47,759.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.59% to 101.95.
The United States 10-year bond yield tumbled 2.10% to 5.080.
In the commodities market, Brent crude for December 2026 settlement dropped $2.44 or 2.30% to $103.62 a barrel.
Stocks in Spotlight:
DEE Development Engineers declined 6.06%. The company announced that it has received an order worth approximately Rs 46 crore from an undisclosed US-based EPC company for manufacturing of modules and off-skid piping fabrication.
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